In a striking move to safeguard integrity, Binance co-founder Yi He has announced a bounty program with rewards ranging from $10,000 to a staggering $5 million. This initiative aims to root out corruption within the ranks of Binance’s listing team.

Crusade Against Corruption

During an online forum on February 5th, Yi He threw down the gauntlet, urging individuals to come forward with evidence of malfeasance related to currency listings. Whistleblowers who provide verifiable proof of internal corruption stand to gain a hefty sum for their efforts, though the exact mechanics of the reward system remain under wraps.

A Lucrative Challenge

Describing the endeavor, Yi He quipped, “It is much easier and more profitable than the rat warehouse.” The reference to ease and profitability underscores the seriousness with which Binance is pursuing this issue.

Recent Controversies and Response

The announcement is hot on the heels of the Ronin (RON) token debacle, which saw a precipitous 30% value drop post-listing on Binance, fueling rumors of insider trading. At the time of writing, RON’s woes continue, with a 26% decrease in value to a current price of $2.57, as per CoinGecko.

In a reassuring move to customers, Yi He has pledged to bolster internal management, enhance technical monitoring, and enforce a strict isolation policy for team members involved in listings.

Permanent Repercussions for the Corrupt

Yi He is unambiguous about the fate awaiting those found guilty of corruption: permanent blacklisting of associated projects and funds. However, the intricacies of how Binance will detect and confirm corrupt activities have yet to be detailed.