On Monday, Binance announced it had initiated an internal investigation into an employee suspected of misusing insider information for personal gain. The exchange reported that its audit team received a tip indicating the employee posted on the official Binance Futures social media account shortly after a token was launched on-chain. The employee was promptly suspended, and Binance has reached out to local authorities to explore potential legal actions. The exchange is promoting whistleblowing as a governance strategy, offering a $100,000 reward to users who provide valid reports through its official channel. Binance emphasized that only reports submitted via this internal channel will qualify for rewards, despite some information being shared publicly. The company reiterated its commitment to a zero-tolerance policy against employee misconduct and plans to enhance internal controls to prevent future abuses. This incident highlights the role of whistleblowers in detecting suspicious activities and the importance of structured bounty programs in the cryptocurrency sector.
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