Market

Binance Responds To Insider Trading Allegations

Binance has suspended a member of its Binance Wallet team and may take further legal action following an internal investigation into allegations of insider trading.

Haider Jamal
March 25, 2025

Disciplinary Action

The investigation, launched on March 23rd, followed a complaint that a staff member used insider information from a previous role at BNB Chain to front-run trades of a project token.

Source: X (@BinanceWallet)

Binance Wallet claimed the employee knew about an upcoming TGE and purchased a large volume of tokens before the public announcement, later selling them for significant profit. The employee was immediately suspended and is under further disciplinary review.

$100K Reward

While the staff member’s identity was not disclosed, there were online speculations linking the incident to Freddie Ng, a former BNB Chain operations manager who recently joined Binance Wallet.

Binance also emphasized that rewards for whistleblowers would only be given to those who report through its official channels, offering a $100,000 reward to be distributed among four anonymous tipsters.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.