Yi He warns of Zhu Pan impersonation scam; CoinUp denies ties

Yi He warned of impersonation scams by Zhu Pan, who allegedly targeted her and Justin Sun. CoinUp denied operational ties, clarifying Zhu Pan is only linked to a listed project, not the company.

Binance co-founder Yi He has issued a public warning to the crypto community about Zhu Pan, accusing him of impersonating her in failed scam attempts and also targeting Justin Sun. Her warnings, shared on X, quickly gained attention, especially after social media posts linked Zhu Pan to the crypto derivatives platform CoinUp. In response, CoinUp released statements denying any operational or managerial ties to Zhu Pan. They clarified that he is not part of their core team or daily operations, though he is associated with a project listed on the platform, specifically the CPX token. CoinUp stressed that connecting the platform to Zhu Pan’s personal activities is misleading and warned of possible legal action against false claims. The incident has drawn significant attention due to the involvement of high-profile industry figures and highlights ongoing concerns about impersonation and fraud in the cryptocurrency sector. CoinUp is also investigating unusual price movements in the CPX/USDT trading pair, possibly linked to the controversy.