CEO Binance Chanpen Zhao (CZ) was forced to tweet about the activities of fraudsters. In particular, he said that the proposals concerning the listing that is sent to application developers Binance not have any relation to the activities of the exchange, writes Beincrypto.
In letters sent to developers of cryptoprocta, for a fee proposed for listing coins on Binance. For this reason, CZ drew attention to the widespread problem and called for the fight against fraud. He also noted that LinkedIn has about 20 official representatives Binance, while the number of people claiming to be team members of the exchange, exceeds 500.
Being the world’s largest stock exchange by trading volume, Binance attracts cryptocurrency startups or projects primary supply of coins (ICO), as a magnet. Many of them do not even dream about adding to the platform. This popularity generates a lot of fraudsters posing as representatives of Binance.
Lately, their activity has shifted to LinkedIn, a reputable social media platform used for professional purposes. Scammers are constantly improving their methods and explore new territory.
In early December, the General Director of the Binance wrote about the fraud listing. He urged users to be vigilant, adding that the staff Binance never associated with application developers, while they themselves are not applying for listing. In addition, signing their email messages exchange always uses PGP with a unique encryption algorithm.
It is noteworthy that at the time of startup Binance DEX, the exchange will charge an unusually high fee for listing new coins. The amount will be approximately $100,000, and this decision meaningful. Setting such a high entry barrier, the company hopes to filter out spam and frankly fraudulent projects.
According to CZ over time, the fee for listing may be reduced.