Binance Co-Founder Yi He Accuses Individual of Fraud Tied to CoinUp; CPX Token Plunges on June 24

TRX-0.81%
According to Binance co-founder Yi He, on June 24, 2026, allegations that an individual named Zhu Pan impersonated her in a fraud scheme targeting Tron founder Justin Sun triggered panic selling of CoinUp's CPX token. CoinUp denied that Zhu Pan is part of its management or core operations and rejected all exit scam claims, stating his affiliation is only with a project listed on the platform. The exchange confirmed that deposits, withdrawals, and trading remained fully functional, with no evidence of hacking or system exploits. However, as of June 25, CoinUp has not identified who was behind the concentrated CPX sell-off, and the investigation timeline remains open.
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