Recently, Ms. Yi He, Co-Founder of Binance, published a post on social media platform X mentioning allegations involving Mr. Zhu Pan, including suspected impersonation and fraud-related matters. This post has drawn market and user attention to CoinUp and has led to concerns and questions regarding the platform. In response, CoinUp attaches great importance to the matter and hereby issues the following official statement:
I. Regarding the Relationship Between Zhu Pan and CoinUp
Mr. Zhu Pan is not a member of the CoinUp platform and does not participate in the platform’s core management or operational decision-making. His role is limited to that of a project party associated with a project listed on the CoinUp exchange. CoinUp’s core business, risk control framework, product services, and day-to-day operations are independently managed in full by the CoinUp team. Any attempt to directly associate Mr. Zhu Pan’s personal conduct with CoinUp as a platform entity constitutes an inaccurate interpretation of the facts.
II. Regarding the Volatility of the CPX/USDT Trading Pair
The recent sharp short-term fluctuations in the CPX/USDT trading pair were primarily caused by concentrated selling pressure in the market. The platform has initiated a comprehensive review process and will continue to keep users informed of relevant developments in a timely manner as the investigation progresses.
III. Regarding Platform Security and User Assets
Following a comprehensive security review, CoinUp confirms that the platform has not been subject to any hacking incident, data breach, or exploitation of system vulnerabilities. The platform’s wallet system, account infrastructure, and asset custody mechanisms remain secure and stable. Deposit, withdrawal, and trading functions are operating normally, and user assets and data remain intact and unaffected.
IV. Legal Response to False Information
CoinUp firmly opposes the malicious spread of rumors and the use of unfounded and misleading labels such as “exit scam” or “fraud” in connection with the platform. CoinUp reserves the right to pursue legal action against any relevant parties in accordance with applicable laws and regulations. We call on users and industry participants alike to rely on facts, refrain from spreading rumors, and avoid being misled by unverified information.
Since its establishment, CoinUp has always regarded the security of user assets and compliant platform operations as its highest priorities. We will continue to face the market and our users with transparency and responsibility. The personal conduct of any individual should not be improperly attributed to the platform itself. We sincerely thank all users for their continued trust and support.
CoinUp Team
June 24, 2026
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