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Binance Founder Changpeng "CZ" Zhao has issued an extremely crucial warning to the crypto community following a significant increase in scam attempts, where bad actors falsely present themselves as "listing agents."
In a tweet, CZ warns the crypto community that anyone claiming to be able to help with a Binance listing is a scammer. These include middlemen, consultants or former or current Binance employees, with CZ urging the crypto community to report such individuals. This is important as they will be added to a blacklist, which is sometimes even published.
The Binance cofounder made this clear even though he could not influence listings on the Binance platform, which follows a structured process, having turned down a request from a country's president in such regard.
CZ shared a post from Binance as to how listings work and on community alerts regarding fraudulent third-party impersonations.
In this light, Binance states that it does not appoint, accept or endorse any individual or agency to apply for a listing or negotiate on behalf of a project. Any party claiming to represent Binance in exchange for payment is fraudulent. In addition, all listing-related communication must come directly from the project’s core team.
Binance follows structured listing process
Binance follows a structured listing process across three stages: Binance Alpha, Binance Futures and Binance Spot.
Advancing from one stage to the next is based on a comprehensive evaluation of factors, including project fundamentals, secondary market metrics, user engagement and compliance standards. Other key areas generally assessed include product quality, product real traction, utility, user metrics, business and revenue model, growth potential, tokenomics, team background and technical risk assessment, among others.
Binance news
Binance Wallet has announced the launch of Web3 Loan, a new on-chain borrowing feature now available on the Web3 Earn page.
Web3 Loan enables users to directly access third-party protocols, to borrow crypto using their existing assets as collateral while unlocking liquidity and new earning strategies.
Binance will be delisting eight spot trading pairs on Dec. 19 at 3:00 a.m. (UTC). These include AI/FDUSD, BICO/BTC, DOLO/BNB, MITO/BNB, MITO/FDUSD, MOVE/BTC, NEWT/BNB and OM/BTC.
Binance previously announced a system upgrade, and testing for UTF-8 implementation on its Spot platform is scheduled for today, Dec. 17.
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