Binance’s Yi He warns of alleged impersonation scam, CoinUp denies ties

Binance co-founder Yi He publicly warned about an alleged impersonation scam involving a person referred to as “Zhu Pan,” after claims circulated linking the individual to CoinUp. CoinUp quickly denied that Zhu Pan is part of its platform’s core management and said the individual’s personal history should not be conflated with the exchange. The exchange also addressed volatility in its native token CPX, saying the recent sharp moves were driven by concentrated selling pressure and that its review found no evidence of hacking, data breaches, or system vulnerabilities. The story is primarily a reputational and security-related crypto-market issue, highlighting how social media allegations can trigger scrutiny and token volatility across exchanges.