Amrita Srivastava, a former senior employee at Binance, has reportedly filed a lawsuit against the cryptocurrency exchange’s United Kingdom branch, alleging unfair dismissal and bribery within the organisation.
Srivastava, who worked at Binance from 2022 to 2023, claimed she was terminated shortly after reporting a bribery incident involving a colleague.
According to a Bloomberg report on November 28, Srivastava accused a Binance employee of accepting a bribe under the guise of providing “consultative services” to a customer.
She alleged that her employment was terminated in April 2023, a month after raising the issue with Binance’s management.
“I was not prepared to look the other way when someone had defrauded a customer and yet was still a part of the team,” Srivastava stated.
She emphasised that requesting a bribe and defrauding a customer were “most definitely wrong.”
Binance reportedly defended the termination, stating Srivastava was dismissed due to “poor performance.”
The exchange also acknowledged that the alleged bribery incident was already known to its management.
In the UK, employees who pursue claims of unfair dismissal can receive compensation of up to approximately $150,000 if successful.
Whistleblowers, however, may be entitled to unlimited compensation depending on the case outcome.
This lawsuit adds to Binance’s ongoing legal challenges worldwide.
In the United States, the exchange has been embroiled in a lawsuit with the Securities and Exchange Commission (SEC) since June 2023 over unregistered securities offerings.
Binance settled other regulatory actions in November 2023, agreeing to pay $4.3 billion.
As part of the settlement, former CEO Changpeng Zhao stepped down, pleaded guilty to one felony charge, and served four months in federal prison.