The Binance Wallet team said Tuesday in an article on X that he had suspended a staff member accused of having used confidential information from his previous roles to the BNB channel to launch a launch of token.
The employee would have bought parts via several portfolios before a generation of token generation (TGE), later selling part of the holdings for quick profits.
“This behavior constitutes a first cycle based on non-public information obtained from its previous role and constitutes a clear violation of business policy,” reads the portfolio team.
Binance’s investigation found no evidence that the employees of the portfolio team were involved in the initiate offense. The company said the information they used was based on the data obtained while it was on the BNB channel, not in the portfolio team.
Binance said that it would cooperate with the competent authorities to pursue appropriate legal action.
The Binance suspension of this portfolio employee echoes the Coinbase scandal in 2023 involving the former manager Ishan Wahi, who admitted details that fled tokens with his brother and another contact.
Coinbase was finally involved in the case to contest the titles and accusations of the exchange committee that the Wahi tokens inside are on the titles.
