Binance Announcement: Decided to take strict measures to combat account abuse and set up channels to encourage reporting

Binance cracks down on account abuse

1. Strengthen regulatory measures

On the 27th, Binance announced strict measures against account abuse. The company will take necessary measures to ensure compliance, protect users and maintain market credibility.

2. Definition of Abuse

Binance has discovered that some account functions have been abused to obtain unfair advantages for users, such as preferential rates or higher API limits.

3. Account Types

Binance provides a variety of account types, including sub-accounts, custodial sub-accounts and fund management accounts. These accounts serve an important purpose but can be abused by bad actors.

4. Strengthened monitoring

To prevent account abuse, Binance has strengthened monitoring of account usage and related activities. The Company will investigate all incidents of potential or suspected abuse and take appropriate action, including account suspension or termination.

5. Reporting Channel

Binance has established a channel to report abuse and encourages users to report any account abuse they encounter (such as the unauthorized sale of account access permissions). Binance will provide rewards for verified cases of abuse.

The above is the detailed content of Binance Announcement: Decided to take strict measures to combat account abuse and set up channels to encourage reporting. For more information, please follow other related articles on the PHP Chinese website!