Binance co-founder Yi He warned on X about an alleged scammer and impersonator known as 'Zhu Pan', who she claims impersonated her in failed scam attempts targeting Tron founder Justin Sun. The warning came after a Chinese-language post linked Zhu Pan to crypto derivatives trading platform CoinUp. CoinUp responded with a statement denying Zhu Pan's involvement in its core operations or management, though it acknowledged a connection to a project listed on its platform. The incident highlights reputational risks in crypto markets where project affiliations are often unclear. Limited public information about Zhu Pan ties him to the 2018 ZJLT ICO project, which faced fraud allegations. CoinUp also addressed recent volatility in its native token CPX, attributing sharp price swings to market selling pressure and confirming no security breaches. Cointelegraph sought further comment from Binance but received no response.

Key facts

• Binance co-founder Yi He warned of scammer 'Zhu Pan' impersonating her
• CoinUp denied Zhu Pan's involvement in its core operations or management
• Zhu Pan reportedly linked to 2018 ZJLT ICO project with fraud allegations
• CoinUp blamed CPX token volatility on market selling pressure, not hacking

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