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.