A Summary of the Situation

Recently, CyClean reached a listing agreement with Binance, one of the world’s biggest cryptocurrency exchanges. However, things went south, to our great disappointment. After exchanging multiple emails with the Binance team, making the right payments for the listing, and receiving confirmation and the date of listing, CyClean was shocked to find Binance’s co-founder, He Yi, link an article claiming that CyClean’s Binance listing was false onto her tweet. The tweet read, “This world needs someone to tell the truth, Koreans need to know all about this, please help them.” She also added hashtags of Binance, CyClean, and what appears to be a misspelling of the word “Korea.”

Her message was retweeted by hundreds of people, who then proceeded to accuse CyClean of being a scam coin. Then, Binance’s CEO Changpeng Zhao, who goes by “CZ,” left a tweet that told people to “Beware of scammers pretending to be Binance Listing team,” hinting that CyClean had been scammed.

However, CyClean had concrete evidence of the listing agreement. Here is an image of the agreement:

When we publicly disclosed this image, the Binance team had nothing much to say. CyClean proceeded in accordance with the terms of the agreement, consistently communicating with the Binance team through an official email for weeks and making all the payments. As you just read, Binance changed its stance from calling us a scam to saying that we had been scammed. But if CyClean were the victim of a scam, why did the scammer have access to an official Binance email, then why didn’t Binance correctly manage this email account, which sent multiple responses back to our email?

In response to all of this CyClean released an official statement with a list of questions for Changpeng Zhao and Binance.

Here is the link to the official statement on Medium:

https://medium.com/cyclean-coin/title-question-to-binance-and-zhao-cyclean-has-signed-contract-with-binance-with-legal-procedure-b1c81826d28c

Currently, CyClean is awaiting a response from the Binance team. CyClean has followed the steps as they were given to us, and we hope to resolve this matter swiftly and professionally with the Binance team.

People’s Reactions to this Incident

We discovered that online community members in Korea have been closely following the situation. Some bloggers summarized the situation and posted a timeline of the events that occurred in this ongoing case. One blogger who goes by the name “Nemo” expressed their opinion of this episode.

In a post titled “CyClean and Binance’s Twitter Debate” that was published yesterday, the author recounted the events that unfolded. Explaining the events as they happened, the blogger reached the conclusion that CyClean is instilling more trust in investors than Binance is. CyClean has proof of communication, payment, and documentation. CyClean hasn’t concealed anything nor has CyClean hidden from the public’s eye. Rather, it is Binance that isn’t being upfront about what has been happening. Apart from tweeting, the leaders of Binance haven’t taken much action.

This particular blogger thinks that there may be a problem within Binance’s management, an internal conflict of some sort. The writer does not think Binance’s attitude is appropriate for a cryptocurrency exchange of its size, that it needs to step forward and do something. To conclude the blog entry, the writer called this a David and Goliath scenario, CyClean being the small shepherd David.

Here’s the link to the original Korean blog post:

https://blog.naver.com/s17135/221335807681