A leading exchange has recently taken significant action - directly offering a reward of 5 million dollars to gather clues about "fraudulent listing intermediaries" globally. This is the first time in the Crypto Assets industry that a giant has officially declared war on the long-standing "listing scam" industry with real money.

The statement from the exchange executives is very straightforward: anyone claiming to be able to guarantee listing a coin for money is a fraud. There is no such thing as a third-party intermediary; all project applications must go directly through official channels. The implication is very clear—using connections is outdated.

A more severe measure is the announcement of the first batch of blacklists, which includes several well-known "intermediary" institutions and individuals. The key point is that projects that have collaborated with these black intermediaries will also be permanently placed on the blacklist, revoking their qualification to list coins. This is equivalent to pressing the pause button on the entire industry, forcing everyone to reassess the rules.

The industry resonated at this moment. But upon reflection, why has this scam been able to survive for so long? The fundamental reason is simple: early information was severely monopolized, and the rules were unclear, leading many to truly believe that relying on "insider connections" was more reliable than relying on "real technology."

The rules of the game are changing. When false channels are completely blocked, what is the true competitiveness of a project? It's no longer about personal connections, but rather a return to the essentials—technology, applications, and ecology. This shift is actually a boon for honest project teams. The future listing standards will be more transparent and predictable, based on actual value rather than vague "relationships".