Binance has issued a warning to Web3 projects about a surge in token listing scams involving imposters posing as its employees or agents.
Crypto Exchange Binance Issues Alert Over Fake Listing Agents
WRITTEN BY
SHARE
Zero Tolerance for Intermediaries
The leading crypto exchange platform, Binance, has issued a public warning to Web3 projects and their teams about a rising number of scams related to token listings. The company says “bad actors” who falsely claim to be its Binance Business Development employees or “listing agents” are promising victims a guaranteed spot on the exchange for a fee.
Binance states in a reminder that such claims are scams and that it has a rigorous and merit-based listing process. This process evaluates projects based on factors like community demand, market conditions compliance and business model sustainability.
The exchange adds it maintains a strict policy of zero tolerance for third-party intermediaries and says direct communication only happens at founders or C-level executives.
“Binance engages with projects directly, and all listing applications and communications must come directly from the project’s core team (e.g., Founder, Co-founders, C-levels). We will not engage with or grant any special consideration to applications submitted by external ‘consultants, ‘advisors’ or ‘agents’,” the exchange states.
It warns projects that if they are found to have used any third party to apply for a listing, the application will be rejected while the applicant is blacklisted.
The reminder also clarifies that Binance does not charge a “listing fee” for its platform. Instead, it works with promising projects and sometimes includes budget allocations for marketing initiatives like airdrops for users. The company will only collect tokens after an official announcement or a fully executed agreement has been signed by both parties. Binance adds that any request for fees or tokens before these conditions are met is a clear red flag.
To protect themselves, projects are advised to verify the identity of anyone claiming to represent Binance. This can be done through the official Binance Verify portal by entering an email address, phone number, or social media handle. The company encourages anyone who is approached by a suspected scammer to report the activity immediately to Binance customer support.
