Yi He, co-founder and co-CEO of Binance, took to X on June 23 to publicly call out an individual identified as Zhu Pan for allegedly impersonating her in a scheme targeting prominent crypto figure Justin Sun.
The accusation is notable not just for the high-profile names involved, but for how quickly it pulled in CoinUp, a cryptocurrency derivatives platform that found itself in the blast radius. CoinUp has since denied that Zhu Pan holds any direct role within the organization, describing him instead as a “project party” associated with its recently launched CPX token.
What happened and who’s involved
According to Yi He’s Chinese-language posts, Zhu Pan attempted to impersonate her in communications with Justin Sun. The attempt was apparently unsuccessful, but Yi He chose to go public with the warning anyway.
CoinUp’s response was swift and carefully worded. The platform clarified that Zhu Pan is not a direct member of their team, attempting to draw a clear line between the individual’s actions and their operations. They categorized him as connected to the CPX token project rather than to CoinUp’s core business.
