Binance Targeted Hundreds of Thousands of Illegal Accounts: There is a Reward for Those Who Disclosure!

Binance, the world's largest cryptocurrency exchange, announced that it will follow a stricter policy against violations and abuses.

In the official announcement shared by Binance on June 27, the steps to be taken regarding misuse of accounts were included.

Binance, which recently took action against 102 thousand illegal accounts abusing the 2nd Megadrop event, emphasized that measures will be tightened to protect user interests and create a fair market.

Binance is committed to taking the necessary steps to ensure compliance, protect users, and maintain market integrity. We believe these are necessary to reinforce trust in our exchange platform and the broader cryptocurrency market. Our aim is to promote a healthy and sustainable market environment that always prioritizes the interests of all users. That's why we've decided to take stricter action against account misuse.

We will not compromise

Binance noted that there are various account types within the exchange, including sub-accounts, managed sub-accounts, and fund manager accounts, but these accounts have been severely manipulated recently.

Pointing out situations such as a person purchasing thousands of accounts through APIs, officials stated that such situations are a clear violation of KYC / KYB policies.

We consider any behavior that involves unauthorized access to other users' accounts a serious violation of our Terms of Use and KYC/KYB policy

Rewards will be given to those who reveal

Accepting that this entire abuse process is complicated, the Binance front noted that it will reward users who help them at this point and disclose the abuses.

In order to ensure the flow of information, a communication channel specific to this field has also been launched.