Binance Announces Stringent Measures Against Account Abuse Introduces User Reporting with Rewards

Binance Announces Stringent Measures Against Account Abuse Introduces User Reporting with Rewards

Binance Announces Stringent Measures Against Account Abuse Introduces User Reporting with Rewards

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Binance Announces Enhanced Account Monitoring
Binance Megadrop Witch-hunt OperationBinance Exchange Released a Statement Today
Announcement
It is stated that some account functions have been, which has gained unfair advantages, such as enjoying more favorable fees or higher API limits other users.
Binance states that any behavior involving unauthorized access to other user accounts is a severe violation of Binance’s Terms of Use and KYC/KB policies. Such behavior not only damages users’ trust in fairness and efficiency, including the Binance but also negatively affects the majority of rule-abiding users’ experience and weakens their to the platform.
Therefore, Binance has decided to take strict measures against abusive account behaviors and further enhance monitoring of all account usage and related activities. Binance investigate all potential or suspected abuse incidents and take appropriate actions to rectify abusive behaviors if, including but not limited to “suspending or terminating relevant account privileges.”
In addition to technical improvements, Binance will also establish channels for users to report instances of account abuse so that users can report any encountered cases of account abuse with verified cases being rewarded. To report cases of account abuse, please send an email to:
[email protected] .
Most cases of account abuse occur during the trading platform’s initial public offering activities. Not long ago, there were reports that someone allegedly participated in the Megadrop Lista event through multiple Binance accounts and transferred all rewards into one single account for sale. Subsequently, Binance froze the and requested their return. Binance’s official confirmation regarding this news was provided through their community platform accounts:
Furthermore, Binance also stated that there were over 1 million participants in the Megadrop Lista event where approximately 10% of accounts were identified by risk control as fraudulent (this number is still being continuously updated). After further filtering by the team, a total of 297 main accounts were confirmed and blocked—one even collected up to 9,000 KYC sub-accounts.

Note: The translation might not be perfect due to certain technical terms used in this news article.