Binance, the world’s largest cryptocurrency exchange, is facing fresh controversy after a former senior employee accused the company’s UK arm of corruption and wrongful termination.

Amrita Srivastava, who held a leadership role at Binance, claims she was fired shortly after reporting a colleague for allegedly soliciting bribes from a customer.

According to Srivastava, the bribe was disguised as a payment for “consultative services.” When she raised the issue with management in April 2023, she says her concerns were brushed aside. A month later, she was let go.

Binance, however, has pushed back on her claims. A spokesperson said the company was already aware of the alleged bribery but insists Srivastava was dismissed for “poor performance.”

Now, the case is headed to a UK court. If Srivastava’s whistleblower claim is successful, the compensation could be substantial, as UK law offers unlimited payouts in such cases.

This lawsuit adds to a series of legal issues Binance has faced recently. In November 2023, Binance and its CEO, Changpeng Zhao, pleaded guilty to charges related to anti-money laundering and U.S. sanctions violations. The company agreed to pay over $4 billion in penalties, and Zhao stepped down as CEO as part of the settlement.

Additionally, in November 2024, FTX filed a lawsuit against Binance and Zhao, seeking to recover nearly $1.8 billion. The lawsuit alleges that Zhao's actions contributed to FTX's collapse, including claims of misleading communications that led to a rush of withdrawals FTX couldn't handle.