Pump-dump tokens after Binance mistakenly posted Telegram link

Binance "accidentally" posted a Telegram link containing a list of 5 tokens said to be part of Binance Alpha, causing the pump-dump tokens' prices to increase after Yi He corrected them as fake.

On the afternoon of December 18, the world's leading exchange Binance encountered a serious problem when it mistakenly posted a fake Telegram link containing information about 5 projects said to be on the list that will be announced by the Binance Alpha feature today.

It all started when Binance's X account named @binancezh accidentally shared the wrong link to the Telegram group "binance_web3_wallet_community". This group posted a list of 5 tokens said to be part of the upcoming Binance Alpha program, including RIF, MONKY, HAPPY, ZRC and ELIZA.

Fake information about the first 5 projects appeared on Binance Alpha

The information was immediately spread by KOLs and major news sites, creating a wave of buying, pushing the prices of the tokens on the list to skyrocket in just a few minutes. Notably, ELIZA, an AI Agents token on Solana, increased in value by more than 100% in just a few minutes.

Binance co-founder Yi He quickly denied the authenticity of this Telegram group, asserting that it was a fake group and had nothing to do with Binance. The statement caused the prices of these tokens to plummet, returning to near their original prices.

Yi He corrected that this Telegram group was fake

Binance China also spoke up to correct, affirming that the list of the first 5 tokens on Binance Alpha has not been announced yet, calling on users to be vigilant and not to believe any information before an official announcement from Binance. To avoid further confusion, Binance China also shared the official Telegram link of Binance Wallet Community.

Binance Alpha is a new feature integrated into Binance Wallet, introducing and providing early investment opportunities in early-stage crypto projects with potential to grow in the Binance ecosystem.

At the time of writing, Binance has only "teased" 5 "mysterious" projects, including 3 projects on BNB Chain, 1 project on Solana and 1 project on Base. The list of the first 5 projects on Binance Alpha will be officially announced at 5:00 PM on December 18, 2024 (UTC).