Chef Nomi has cooked up what appears to be the biggest exit scam of 2020, but should others be held accountable as well? Binance, like many other major exchanges, listed SUSHI raw and unaudited on Sept. 1. The token price doubled upon listing. The token contract was deployed on Aug. 26, it started trading two days later, and the first and only security audit was published on Sept. 3 (the firm confirmed to Cointelegraph that it had not discussed its audit of SushiSwap with Binance prior to publication).
Binance’s listing guidelines purport that the exchange does a lot of due diligence prior to listing a token:
“Binance has a rigorous screening process for listing, and projects failed to pass the review may be still in observation period.”
It begs the question: What kind of “rigorous process” could have been performed on an infant project in a matter of days?
Related: To list or not to list, Part 2: