Binance offers a $5 million reward and takes strong action against brokers listing fake Token . Photo: Decrypt
Binance clarifies its listing process.
Binance is stepping up its campaign to "clean up" its Token listing process, offering rewards of up to $5 million for verifiable tips, in order to crack down on individuals and organizations impersonating listing agents to profit from crypto projects.
Anyone claiming to be able to help you with a Binance listing is a Scammer.
— CZ 🔶 BNB (@cz_binance) December 17, 2025
If you see anyone (including middleman, consultants, ex- or current employees) claiming it, please report it. They will be added to a blacklist, and sometime even published.
I recently had a country…
In an announcement on the afternoon of December 17th, Binance clarified how projects must approach the listing process across the entire exchange ecosystem – from Binance Alpha, the Futures Contract market to the spot market.
1/ Alpha
- Initial phase: Introducing the project's potential to the Binance community.
- This includes activities such as Pre-TGE, Prime Sale Pre-TGEs, TGE, Alpha Airdrops, and Booster.
- Suitable for young projects, those expanding their ecosystem, or those that haven't yet Token Issuance.
2/ Futures
- Projects that demonstrate strong performance from the Alpha stage may be XEM for listing on Binance Futures, expanding Derivative trading options for users.
- This applies to projects that already have Token and meet the criteria for liquidation and market interest.
3/ Spot
- In the final stage, the Token is traded directly on the spot market.
- Includes programs such as HODLer Airdrops, Launchpool, and Megadrop.
- Suitable for projects with a completed product and a large user base, whether the Token already exists or is about to launch.
4. Exception : In some cases, if the project fully meets Binance's standards, the Token may be listed directly on Spot, without going through Alpha or Futures.
The exchange emphasizes that the entire review and listing process is free and all required documents must be submitted exclusively through Binance's official channels. The company asserts that it does not authorize any external brokers, intermediaries, or agents to participate in negotiations or influence the listing outcome.
The warning comes amid reports of numerous similar cases on Binance. Individuals or companies claiming to have inside connections with the exchange are impersonating intermediaries to solicit listing services, collect fees, or request payments from project founders. According to Binance, any promises of guaranteed listings, backdoor deals, or requests for fees are fraudulent.
In response, Binance announced details of its official listing framework and urged project teams to work only through the exchange's registration portals. Any statements by Binance representatives outside of these channels should be immediately refuted. Following an internal audit, Binance stated that it has blacklisted several parties and is prepared to pursue legal action if necessary.
Blacklists are revealed, and the controversy over "hidden costs" continues to overshadow the issue.
In this announcement, Binance also specifically named seven individuals and organizations that have been blacklisted , including BitABC, Central Research, May/Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z. These entities made false statements about their relationship with Binance or provided services related to Token listings under the exchange's name.
Notably, some of the entities on the blacklist are not unknown individuals. Market data shows that Central Research has previously backed several crypto projects such as Fireverse, Nebula Revelation, AKI Network, Fusionist, and Artyfact. Of these projects, only Fusionist (ACE) is currently traded on Binance, although the exchange has not provided any connection between the blacklist findings and previous listing decisions.
Alongside the announcement of the blacklist, Binance stated that its whistleblower reward program is not merely a formality. Rewards of up to $5 million will be paid for credible information that leads to actual action, including suspension, prosecution, or legal action.
Earlier this month, Binance confirmed a listing leak involving the memecoin “Year of the Yellow Fruit” . A Binance employee leaked the information to a third party, forcing the exchange to implement internal disciplinary measures and deploy additional control mechanisms to prevent pre-listing data exploitation.
The world's largest exchange has also been embroiled in controversy regarding listing requirements. According to allegations from Limitless Labs , the exchange required projects to allocate up to 8% of their Token supply as part of the listing conditions. Binance Unconfirmed this information, but the allegations quickly sparked debate within the community about transparency and "hidden" costs in the listing process on major exchanges.
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