Binance published a formal update on social channels regarding a suspected employee token issuance case. The internal review indicates the token was minted on-chain at 05:29 UTC on December 7, and within a minute the employee used a Binance Futures account to post a tweet featuring the token. Binance characterized this as abuse of power for personal gain, a clear violation of its policies and code of ethics. The employee has been suspended pending further disciplinary action.

Binance said it will cooperate with law enforcement authorities in the employee’s jurisdiction and take appropriate legal measures under applicable law. As part of its ethics and compliance program, a total reward of $100,000 will be evenly distributed among the five earliest valid whistleblowers.