Binance Suspends Employee Over Insider Trading Allegations

Binance has taken swift action against an employee accused of using confidential information to profit from a token launch.

The company announced the suspension of a staff member from its Wallet team after discovering they had purchased a significant amount of tokens before the official Token Generation Event (TGE) and later sold them for a profit.

The exchange clarified that while the Wallet team doesn’t have direct access to project details, the individual misused insider knowledge gained from a prior role at BNB Chain. Binance emphasized that this conduct violates its policies, and the employee is now under disciplinary review.

Although Binance did not specify which token was involved, speculation quickly spread within the community. Some users pointed to transactions linked to UUU, a memecoin on Binance Smart Chain, noting that large token sales by a wallet allegedly belonging to a Binance employee had caused a price drop.

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Binance’s Chinese social media account acknowledged these concerns and confirmed that an internal investigation is ongoing. The company has assured that the results will be disclosed once the review is complete.

Alexander Stefanov