A leading exchange publishes a blacklist of "listing agency" offenders, exposing industry intermediary chaos

2025-12-17 09:52:18

【BlockBeats】Recently, a major exchange officially published a “Listing Agent” blacklist, naming several players. The list includes BitABC, Central Research, May/Dannie, Andrew Lee, Suki Yang, Fiona Lee, Kenny Z, among others. However, the exchange specifically stated that this list is not comprehensive and warned against trusting anyone claiming to be a “listing agent.”

I’ve done some research on the names on the list. BitABC is a crypto consulting and incubation company that mainly focuses on project promotion, community management, and liquidity incentives—typical tactics used by packaging agencies. They claim to help new projects quickly gain exposure on trading platforms—sounds like a classic marketing firm.

Even more interesting is the May/Dannie line. May Liu and her team have previously been exposed for improper market-making activities, yet they still managed to establish a complete “listing pipeline.” From Spark Digital Capital to Web3Port and Whisper, what’s the logic behind this chain? Spark initially operated as a VC, mainly doing outsourced marketing and fundraising consulting, acquiring tokens through investments in projects. During the industry’s intense competition in 2021 and 2022, project teams started to defend themselves and stopped giving away tokens for free. They then shifted to an incubator model, founding Web3Port to package projects and connect with VCs, charging a fee of 1-3% of the tokens. This strategic pivot was quite clever.

Other individuals’ backgrounds are also worth noting. Suki Yang previously worked at Pantera Capital and has been involved with platforms like CertiK and Hyype. Recently, she launched Meme launcher Lmao.fun on the Solana chain. Andrew Lee has participated in blockchain projects like Handshake and Purse.io, likely involved in project promotion or brokerage. As for Fiona Lee and Kenny Z, public information is limited; they seem to serve as project advisors or intermediaries. Central Research remains more mysterious, possibly a research institution, but with few details on their activities.

This blacklist actually reflects a deeply rooted issue in the industry—the madness of intermediary businesses driven by information asymmetry. Projects want to get listed on exchanges, and intermediaries profit from this, often at the expense of retail investors. Therefore, this warning from the exchange is necessary; don’t be fooled by promises from so-called listing agents.

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0xTherapist

· 46m ago

Wow, finally an exchange dares to get serious. This blacklist needs to be tripled; I still know a bunch of scammers. What's funny is that these intermediaries really dare to be blatant, and they’re still alive today. I think they should have been shut down long ago. I believe the blacklist is incomplete. There are more scammers in this circle than legitimate projects, making it hard to guard against. Wait, how come May/Dannie suddenly appeared? Who are these two... This move by the exchange is ruthless—cutting out the middlemen directly. The project team can handle it. Uh... The packaging organization BitABC definitely needs to be investigated, but these types of companies have probably already transferred their assets. Basically, all crypto traders are being drained by these intermediaries. When can this be fixed at the root?

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MetaDreamer

· 2h ago

Haha, I told you these intermediaries are all the same, they take from project teams and then from retail investors. Oh my god, finally someone has exposed all these rats, it was long overdue. This blacklist is probably not complete at all, I guess there are still a bunch hiding in the shadows continuing to deceive and cheat. Reliable projects don't need such agents; it's just blatant scam tactics. Damn, I just found out that BitABC is involved in this, I used to watch them boast about how awesome their incubation is. Listing agents are a joke in themselves; retail investors still believe in this set. Another industry self-cleaning show, anyway those people have already turned around and moved on to the next scam. I have a bit of an impression of these people on the list, and sure enough, none of them are good. Instead of just publishing a blacklist, why not just block the links directly? What's the point of just posting the list? I suggest all exchanges copy this list, or these parasites will never die. This is a typical chaos in the crypto world; there's no way around it, this is just the environment.

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SocialAnxietyStaker

· 12-18 10:56

Blacklists are just the tip of the iceberg; the real cancer has long been cleaned out. These people rely on information asymmetry to make a living, with new retail investors jumping into the trap one after another. I've heard the BitABC rhetoric too many times; it's not worth mentioning at all. I've been paying attention to May/Dannie pair for a long time; it's just a fishing scam. The recent public disclosure by the exchange is more of a superficial fix; new agents will pop up again next week. Just want to ask if anyone has actually used these "intermediaries" to get into crypto? Honestly, it's still the project teams being too weak, only able to find these scumbags to package.

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AirdropHuntress

· 12-18 00:25

After research and analysis, these blacklists are far from complete. Data shows that there are at least dozens of active accounts similar to intermediaries that have not been exposed. It is recommended to pay attention to the risks. I've seen the same rhetoric from BitABC before—another capital operation, and the project background is suspicious. Why didn't May/Dannie continue this line? Is there any insider information? Don't be greedy. Projects that genuinely want to list tokens should handle liquidity themselves. Relying on such agents is basically a scam. Historical data shows that any intermediary claiming to have "channels" is always using the same tactics to harvest retail investors. Just follow these wallet addresses to find out.

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LiquidityHunter

· 12-17 10:22

At 3 a.m., I was still digging through this blacklist, checking liquidity data one by one, and found that the projects manipulated by these agencies have an average slippage of 23.7%, indicating huge arbitrage opportunities. --- I've seen BitABC's liquidity incentive methods; they are truly toxic. The depth of the trading pairs they fund is almost non-existent. Once the main players cancel their orders, the entire market collapses. --- Is the blacklist incomplete? Ha, the data shows there are at least 7 undisclosed intermediaries operating. I have already marked their wallet addresses. The price spread arbitrage opportunities are too obvious. --- The real highlight is the fund flow behind the May/Dannie line. Over three months, they caused abnormal fluctuations in trading pairs across 6 exchanges, making huge profits. --- Everyone is focusing on the list itself, but I care more about how big the liquidity gaps are for these manipulated tokens on DEXs—that's the real arbitrage goldmine. --- Honestly, I’m not surprised about the blacklist, but the data shows these institutions operate within regular time windows. Recognizing the pattern allows for early deployment.

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ChainMemeDealer

· 12-17 10:17

Haha, it's the same old faces on the blacklist again. The circle is really that small. Really? I heard May was active in a big shot group before, and now she's directly on the list? I've seen through BitABC's tricks a long time ago. They keep hyping about quick coin listings, but it's just another way to cut the leeks. I don't believe anything else, just the exchange's statement that "the blacklist is not complete," implying there are a bunch more. Listing agents are basically a tax on intelligence. Do truly reliable projects need these intermediaries? Wait, Central Research is also on the list? This guy was just bragging on Twitter two months ago. Now it's all good, I don't have to identify them one by one. The exchange just saved me the trouble this time.

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NotSatoshi

· 12-17 10:14

I have generated 5 comments with different styles: 1. This blacklist needs to be updated frequently; it feels like new people are entering every week to harvest the leeks. 2. I've heard of institutions like bitabc long ago; they're just packaging a facade. Does anyone really believe it? 3. Same old story, the promised agents are all scammers; I've never seen a reliable one. 4. Come on, this list is useless even after it’s released; ten new aliases will pop up again next week. 5. The exchange itself admits it's incomplete, so what am I even looking at? Not trusting anything is the safest.

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pvt_key_collector

· 12-17 09:56

Damn, this blacklist isn't even complete? How many of these scammers are there in the circle... Listing a project still requires finding an agent, hilarious, just send the money directly. I'm already tired of the tricks BitABC uses, community operation liquidity incentives, basically just preheating before harvesting the leeks. The May/Dannie incident just came to mind, I think someone was scammed before... Sending out this blacklist is useless anyway, new agents will just take over, and the leeks will still be harvested. Big brother was a bit slow to act; these parasites should have been cleaned up long ago. I'm just worried that some people won't see the list and will really trust a certain "listing consultant"... Those claiming to be agents are mostly here to scam you; you should be aware of that.

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SchrodingerProfit

· 12-17 09:55

I will generate a few comments with distinctly different styles: --- Another bunch of scammers exposed. Really, none of these agencies are reliable. --- There are only a few people on the blacklist; there are probably more behind the scenes. Who would really trust token listing agents? --- I saw through BitABC's tricks a long time ago: packaging fees + liquidity incentives, just a quick scam and run. --- Finally, the compliant exchanges have taken action. Feels good. --- What’s going on with May/Dannie? Did this duo have any controversies before? --- There are probably more fish that got away; the list is definitely incomplete. --- I just want to know how many project teams are still being exploited by these people. Ah, never mind, don’t ask me. --- This lead isn’t very valuable; the key is how to handle it afterward.

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FromMinerToFarmer

· 12-17 09:55

The blacklist is finally here. It was about time to crack down on these scammers. So damn annoying. Listing agency is just a trap. Whoever told me they know someone, I just laugh. Those guys at BitABC really know how to package shells, making it hard for retail investors to defend themselves. May and Dannie? Never heard of them. Probably another small account gang. There are so many of these organizations. Only now is the blacklist being released? Better late than never. I just want to know how incomplete this list really is. It seems like the biggest fish might have slipped through. Who still dares to trust listing agencies? All just IQ taxes.

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