Odaily Planet Daily News Binance said on Twitter: "There are 500 Australian users affected by the closure of contract positions. This is a necessary action to ensure compliance with local laws. We are contacting affected users to determine our compensation plan." Yesterday, Binance responded to the "closure of some Australian users' contract positions" and said: "This is due to the misclassification of some accounts. The team found that some Australian users were mistakenly classified as wholesale clients on Binance. According to Australian regulations, we are required to notify these users and immediately close their derivatives positions. We have contacted all affected users and will fully compensate them for their losses in derivatives trading."