Key facts
- Binance co-founder Yi He warned of an alleged impersonator named "Zhu Pan."
- Yi He stated the impersonator attempted scams and failed.
- CoinUp denied any operational ties to "Zhu Pan."
- CoinUp acknowledged "Zhu Pan" is linked to a project listed on its platform.
- CoinUp attributed recent token volatility to market selling pressure, not a hack.
Binance co-founder Yi He has issued a warning regarding an alleged impersonator, identified as "Zhu Pan," who has reportedly attempted to scam users. The situation escalated when a widely shared Chinese-language post on X alleged a connection between CoinUp, a crypto derivatives trading platform, and "Zhu Pan." CoinUp has since issued a statement denying any operational involvement or core management ties to the individual. The platform clarified that while "Zhu Pan" is not part of its core operations, the individual is linked to a project listed on CoinUp. This incident highlights the reputational risks in the crypto space, where social media allegations can quickly involve exchanges and prominent figures. Public information about "Zhu Pan" is limited and disputed, with some reports linking the individual to a 2018 initial coin offering project that faced accusations of fraud. CoinUp also addressed the recent volatility of its native token, CPX, stating it was due to concentrated market selling pressure and that its security review found no evidence of hacking or breaches. Yi He also alleged that "Zhu Pan" impersonated her in an attempt to scam Tron founder Justin Sun, who confirmed the accuracy of her account.
