Crypto: A Binance Employee Accused Of Market Manipulation

A Binance employee suspended for front-running, an internal investigation shaking the ecosystem, and a crypto community playing detectives on X… These are the ingredients of an explosive case. Between on-chain clues and growing suspicions, let’s look back at a hunt for fraudsters where the blockchain leaves no room for secrets.

Binance raises the alarm

On March 23, 2025, Binance’s internal audit team receives a damning complaint: an employee allegedly took advantage of confidential information to engage in front-running. In other words, he would have bought tokens before their public announcement, then resold them at a high price once the hype was launched. A classic case… but also a blatant violation of the rules.

Immediately, Binance opens an internal investigation. The team traces the flows, analyzes suspicious transactions, and confirms crypto fraud. An employee recently transferred from BNB Chain to Binance Wallet allegedly used his past experience and knowledge of projects in preparation to make significant profits. The result? Immediate suspension and possible legal action. But the story doesn’t end there.

The crypto community conducts the investigation

While Binance remains discreet about the identity of the suspect, X users (formerly Twitter) turn into Sherlock Holmes and cross-reference on-chain data. One of them, using the pseudonym “py”, spots a wallet that allegedly generated $82,400 in profit by reselling a freshly listed token: U DEX Platform (UUU).

Digging a little deeper, these budding investigators discover that this wallet received tokens from another wallet… itself initially funded by an address linked to freddieng.bnb.

An interesting detail, since according to his profile on X and LinkedIn, a certain Freddie Ng just joined Binance Wallet a month ago, after working on BNB Chain. Coincidence? Maybe. But the crypto community has its doubts.

Consequences and rewards from Binance

Binance, for its part, implements strict measures: immediate suspension of the suspect and collaboration with authorities for potential prosecution. As for the fraudulent assets, they will be handled in accordance with the law.

The real winners of this case? The whistleblowers who provided their information directly to Binance via its official channel. Their reward: $100,000 to share. Conversely, those who exposed the case publicly on X will only receive an official thank you, as Binance wishes to prioritize direct reports to protect informants.

In the world of crypto, anonymity is an illusion. Each transaction leaves a trace, and when the community gets involved, it becomes difficult to escape the eye of the blockchain. Is Freddie Ng the real culprit? We may never know. As Binance itself is accused of the Naira’s fall, this case reveals that no one is truly safe in this vast crypto ecosystem.