Binance Declares Strict Measures Against Account Abuse Introduces Rewards for User Reports

Binance Announces Enhanced Account Monitoring
Binance Megadrop Witch Hunt
Today, Binance released an announcement stating that some account functions are being abused, resulting in unfair advantages such as more favorable rates or higher API limits than other users.
Binance stated that any unauthorized access to other users’ accounts severely violates Binance’s terms of use and KYC/KYB policies. Such behavior undermines the trust in the fairness and efficiency of the Binance platform, negatively impacts the experience of the vast majority of compliant users, and diminishes their contributions to the platform.
Therefore, Binance has decided to take strict measures to combat account abuse and further strengthen the monitoring of all account usage and related activities. Binance will investigate all potential or suspected abuse incidents and take appropriate measures to correct the abuse, including but not limited to “suspending or terminating the relevant account’s usage rights.”
In addition to technical improvements, Binance will also establish a reporting channel for users to report any account abuse incidents they encounter and provide rewards for any verified account abuse cases. To report account abuse, users can send an email to:
[email protected]
.
Most account abuse issues occur during the platform’s initial listing activities. Recently, it was reported that someone allegedly participated in the Megadrop Lista event through multiple Binance accounts, consolidated the rewards into a single account, and sold them, after which Binance froze the assets and demanded a refund. Binance subsequently confirmed this news through its social media accounts:
Additionally, Binance stated that the Megadrop Lista event had over 1 million participants, of which about 10% of accounts were identified by risk control as fraudulent (this number is still being updated). After further filtering by the team, 297 main accounts were ultimately confirmed and blocked, with one account even consolidating up to 9,000 KYC sub-accounts