An ex-employee of Binance
Amrita Srivastava, a former senior staff of the cryptocurrency giant, filed the lawsuit in the United Kingdom, as reported by Bloomberg on November 28.
She claims that another Binance team member solicited bribes from a client, and her employment was terminated in retaliation after she reported the issue to management in April 2023. The alleged bribery was purportedly concealed as "consultative services" provided to the client.
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According to Srivastava, the unnamed colleague's actions crossed ethical boundaries, leaving her no choice but to raise concerns.
However, a Binance representative reportedly countered her claims, stating that the firm was already aware of the alleged bribe. The company attributed her dismissal to "poor performance", rather than her whistleblowing efforts.
Srivastava expressed her disapproval of how the situation was handled, emphasizing the moral clarity of her decision. She said:
I was not prepared to look the other way when someone had defrauded a customer and yet was still a part of the team — some things are just right and wrong, and asking for a bribe and defrauding a customer was not a gray area — it is most definitely wrong.
The case's outcome remains uncertain as it navigates the UK judicial process. Under UK law, individuals who successfully prove unfair dismissal may be eligible for compensation up to approximately $150,000. However, for whistleblowers, financial awards can be higher, with no set limit.
While allegations of bribery and misconduct have shaken Binance, it's not the only scandal making headlines in the cryptocurrency sector. A major Bitcoin mining operation recently faced a $10 million fine over corruption charges. What led to this hefty penalty? Read the full story.
