Binance co-founder Yi He has taken to social media to alert the crypto community about a sophisticated impersonation scheme. She highlighted an individual operating under the alias “Zhu Pan,” who has been using her reputation to build credibility and solicit investments through deceptive Chinese-language communications.
The alert follows reports that the scammer has been leveraging the name of the exchange platform CoinUp to appear legitimate. Victims are often targeted through private messaging channels, where the imposter promises exclusive financial returns or priority access to crypto-related opportunities.
In response to the growing confusion, CoinUp has formally disassociated itself from the individual. The company issued a statement clarifying that no such partnership or authorized representative exists, urging users to remain vigilant against unauthorized solicitations.
Security experts reiterate that high-profile industry leaders will never approach users via private messages to discuss investment opportunities. Investors are advised to double-check official communication channels and report any suspicious accounts to prevent further fraud.
