Recent account misuse prompted Binance to introduce stricter integrity measures.
Enhanced Integrity Measures Introduced
The newly implemented security measures include enhanced monitoring of account activities across various types. For example: Sub-accounts and managed sub-accounts. While essential, these account types can be exploited for unauthorized advantage. For example: Fee rates and increased API limits.
To combat this misuse, Binance has intensified its monitoring efforts and urges users to promptly report any suspected incidents. To incentivize reporting and ensure swift action, Binance offers rewards for verified cases of misuse. The reward amount is determined on a case-by-case basis, reflecting the seriousness and impact of each reported incident.
Source: Binance
Binance warns that stringent actions, including account suspension or termination, will be taken against individuals found violating its Terms of Use and Know Your Customer (KYC)/Know Your Business (KYB) policies. Unauthorized access to other users’ accounts is considered a severe breach and undermines the platform’s reputation while adversely affecting the majority of users who adhere to the rules.
Users are encouraged to report misuse incidents to Binance through the dedicated email address, [email protected]. This proactive approach not only enhances security but also reinforces Binance’s commitment to maintaining a trusted and transparent trading environment for cryptocurrency enthusiasts worldwide.
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