Binance’s Yi He Accuses CoinUP Operator Zhu Pan of Impersonation Scam

The dispute involving cryptocurrency trading platform CoinUP began when Binance co-founder Yi He publicly accused Zhu Pan of impersonating others to commit fraud. Zhu is also suspected of using Yi’s identity to obtain funds fraudulently from TRON founder Justin Sun. The case raises concerns about identity theft, platform affiliations and market manipulation, potentially undermining investor confidence.

Yi recently named Zhu Pan, described as a CoinUP operator, on social media but did not disclose when the alleged fraud occurred, the amount involved or whether the funds had been recovered. CoinUP subsequently denied that Zhu was a member of its platform, saying he was affiliated only with a project. It added that, as of the time of its response, platform assets remained secure and trading and withdrawals were operating normally.