Binance's Yi He Flags Alleged Impersonator 'Zhu Pan'
CoinUp denies ties to the individual as Binance co-founder issues public warning to users.
Binance co-founder Yi He has publicly warned users about an alleged impersonator using the name "Zhu Pan" in Chinese-language posts, as crypto exchange CoinUp moves to formally distance itself from the individual, CoinTelegraph reports.
Why It Matters
Impersonation scams targeting high-profile crypto executives carry outsized risk for retail investors, who may transfer funds or share credentials based on fraudulent authority. Yi He's public warning signals that the alleged scheme reached a scale significant enough to demand an official response from one of the industry's most recognisable figures. CoinUp's public denial matters because scammers routinely attach real company names to fake personas to manufacture legitimacy. Any user who interacted with "Zhu Pan" on the basis of a perceived Binance or CoinUp affiliation should treat those communications as compromised. Gambling involves risk, and in crypto markets, scam exposure compounds financial downside significantly.
Context
As of June 2026, executive impersonation remains one of the most common crypto fraud vectors, with attackers exploiting the public visibility of figures like Binance's Yi He to solicit funds or personal data. Binance itself has repeatedly flagged impersonation attempts across social platforms, particularly in Chinese-language communities where the exchange commands large retail followings. CoinUp's swift denial suggests the exchange is aware that association with alleged fraudulent activity — even indirect — can damage user trust and regulatory standing.
What's Next
Yi He has not publicly detailed what enforcement or platform-reporting actions she plans to pursue against the alleged impersonator as of June 2026. Users should monitor official Binance and CoinUp channels for further guidance on identifying verified communications.
Gambling and crypto investment involve risk. Never transfer funds based on unverified identity claims.
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