Binance is one of the leading cryptocurrency exchange platforms in the world. It was founded in 2017 by Changpeng Zhao and has quickly gained popularity among traders and investors. With its user-friendly interface, wide range of supported cryptocurrencies, and advanced trading features, Binance has become a go-to platform for both beginners and experienced traders. Its strong security measures and commitment to innovation have made it a trusted and reliable platform in the cryptocurrency market.
As Binance trading grows in popularity, more people are joining to earn. The dangers and drawbacks of buying Binance accounts must be acknowledged. This blog post discusses scams, fraud, and account suspension that buyers may confront when engaging in such acts. Readers may make informed judgments and protect their investments by recognizing the risks.

The Risks of Buying Binance Accounts
Binance account purchases include risks. Scams and fraud are serious threats. Since there is no method to check the account seller, you may buy a compromised or unlawful account. Account trading is strictly prohibited by Binance, and it can result in the suspension or termination of the acquired account, resulting in a complete loss of investment.
Lack of Security and Potential for Account Hacking
While buying Binance accounts may seem like a handy way to access the network, it is risky. Fraud is a major concern. These accounts are routinely sold by third parties, increasing the risk of frauds or compromise. You also risk being banned from Binance for breaking its terms of service. This may cause account funds or assets to be lost. Before buying a Binance account, be cautious and aware of the risks.
Violation of Binance's Terms of Service and Potential for Account Suspension
Unauthorized account trading is illegal in many places, therefore it might have legal ramifications. Buying a Binance account from a third party may also expose one's personal details to identity theft or fraud. Prioritize security and only transact through official channels to protect funds and personal data.
Inability to Verify the Account's History and Potential Involvement in Illegal Activities
Additional risks of buying a Binance account from an unauthorized source. Individuals risk money laundering or terrorist financing by opening an unfamiliar account. This can harm one's reputation and legal standing. To avoid injury, one must be cautious and avoid such trades.
The Drawbacks of Buying Binance Accounts
Buying things with an unauthorized Binance account can lead to a number of problems. First, the buyer's personal and financial information may have been stolen from the account. Second, these accounts might have a past of fraud, which could get them banned or suspended from the platform. Lastly, Binance's terms of service say that you can't buy accounts from sketchy sources. This makes it a risky and unreliable way to trade cryptocurrencies.
Lack of Control and Ownership Over the Account
May result in unlawful account modifications or transactions without the buyer's knowledge. Since the buyer relies on the original account owner for security, they cannot guarantee their funds' protection. The buyer may also lose access to Binance's core features and perks without account ownership, restricting their trading options and growth.
Potential Loss of Funds Due to Unverified Sellers
Buying a Binance account also carries a high risk. You can't verify the seller or account funds without proper verification. This makes the consumer exposed to frauds and fraud, which could cost them a lot of money. Avoiding these dangers requires caution and thorough investigation before engaging in such transactions.
Limited Access to Account Features and Benefits
Another drawback of owning a Binance account is limited account features and advantages. The buyer may not be able to access certain features or privileges of the original account user. This can limit the buyer's account use and cause missed chances or operational issues.
Alternatives to Buying Binance Accounts
These alternatives allow users to access Binance's features and benefits without buying an account. Binance also allows direct account creation. Users can fully control their account and use all platform features this way. Try asking experienced traders or joining Binance trading communities for advice. Users can maximise trading potential without buying accounts by learning from others and staying informed.
Creating a New Binance Account to Ensure Security and Ownership
Creating a new Binance account is the safest option because users have full control over their assets and data. This lets them use two-factor authentication to secure their account. Creating a new Binance account is the ideal approach to prioritize security and preserve full control over trade.
Utilizing Binance's Account Verification Process for Additional Security
Another efficient account protection method. Users can secure their accounts by submitting identification and passing verification. This helps Binance prevent unwanted access and ensure safe trading for all users. Therefore, Binance's account verification process is recommended to increase security and control over trade.
Seeking Assistance From Binance's Customer Support for Any Account-related Issues
Essential for trading security. Binance's 24/7 customer support service can answer account security questions. Their support team is available to reset passwords, resolve suspicious activity, and offer security advice. Users may guarantee account concerns are fixed quickly and effectively by contacting Binance's customer care, thus securing their trading experience.
Conclusion
Even though Binance's customer service team works hard to keep accounts safe, it's important to know that buying Binance accounts can be very risky. Some of these risks are possible scams, stolen account information, and not being held responsible if problems happen. It is always best to make and handle your own Binance account so that you have full control and are less likely to fall for false activities.
#Binance #DYOR #SAFU

#Bitcoin exchange outflows, interest rate cuts, Bitcoin halving, ETF approval are among many factors that could trigger a mega bull run in 2024.The world’s largest cryptocurrency Bitcoin (BTC) continues to show strength with the BTC price now trading 2.55% up at $38,678, and is now eyeing a move above $40,000. The bullish indicator comes as centralized exchanges witness a sizeable exodus of coins.According to Glassnode data, investors have withdrawn over 37,000 BTC, equivalent to $1.4 billion, from exchanges since November 17, indicating a trend of investors opting for direct custody of their coins. This outflow suggests a preference for a long-term holding strategy, possibly influenced by factors such as Binance’s guilty plea.The inclination toward holding reflects robust demand and reduced sell-side pressure, coinciding with optimism surrounding the anticipated launch of a spot exchange-traded fund (ETF) in the US. Historically, exchange outflows have correlated with local price lows, supporting expectations of a medium-term price increase.Anticipated interest rate cuts by central banks in the coming months could attract capital to various markets, potentially leading to increased volatility in speculative sectors like cryptocurrencies, according to some market observers.With the Federal Reserve pausing its rate hiking cycle and other central banks globally following suit, there is speculation that we may have reached the peak of this tightening cycle. To sustain a significant boost in risk assets, a clear trajectory toward lower interest rates and the conclusion of Quantitative Tightening is deemed essential.As 2024 approaches, there is a possibility of entering a phase with a net positive liquidity outlook for the markets. Bitcoin, acting as a barometer of net liquidity, would require favorable liquidity conditions to substantiate any substantial bullish movements.Bitcoin Price Can Touch $63,000 by April 2024As per the recent report from Matrixport, the BTC price is all set to register gains up to $63,000 by the next halving around April 2024.According to Matrixport’s report on December 1, Bitcoin is anticipated to follow a bullish trajectory, reaching $63,140 by April 2024. The firm also attributes this sustained 3-year bull market to historical trends, mining reward halving, and favorable geopolitical and macroeconomic factors.Maintaining confidence in Bitcoin’s potential, Matrixport further envisions the cryptocurrency hitting $125,000 by December 2024. The catalyst will be the upcoming Bitcoin halving as well as institutional adoption.The recent “Matrix on Target” report from November 22 suggests a high likelihood of Bitcoin surpassing $38,000 by the end of November with an 80% probability. The report also anticipates a rally to $40,000 in December with a 90% probability. Notably, significant trading volumes in the broader crypto market indicate active buying by investors and whales, particularly amidst the hype surrounding spot Bitcoin ETFs.#BTC #SAFU #Web3Wallet #Binancefeed

There have been several crypto hacks that happened in November 2023. From Heco exploits to Yearn Finance unexpected Rugpull November, we saw some biggest breaches of all time. Here are some of the major ones: #SAFU ⭕ HTX and Heco Chain hack : Around $115 million so far has been stolen after hackers exploited the HTX exchange and Heco Chain, two cryptocurrency platforms linked to high-profile entrepreneur Justin Sun. HTX, formerly known as Huobi, was targeted by hackers who stole an estimated $30 million worth of cryptocurrencies, the company said in a statement on Wednesday¹. A total of $85.4 million worth of cryptocurrency has been stolen from the Heco Chain, according to market analytics firm CryptoQuant.🔘 Mixin breach: Crypto platform Mixin suffered a data breach of its cloud service provider, resulting in $200 million in crypto being stolen by hackers. The attack affected over 5,000 user accounts and mainly involved stablecoin USDT and ether. Mixin has not been able to recover the stolen funds, but has promised to compensate half of the losses to its users.🛑 CoinsPaid phishing scam : Crypto payment processor CoinsPaid was hit by a phishing scam that cost $37 million in crypto . The attackers lured an employee with a fake job offer and installed malware on their device, which gave them access to the CoinsPaid internal infrastructure. The hackers have not been identified, and the funds have not been retrieved.⭕ Crypto hacks surge in November : According to blockchain security firm CertiK, November has seen a worrying spike in crypto hacks and theft, with losses reaching approximately $173 million so far. This figure represents the fourth-highest monthly total for 2023. Two major hacks account for the bulk of the losses.♦️ Protocol Hacks & Rug Pull : YFI Dropped 43% One Day : A Exit Pool or Systematic Rugpull? ♦️ What went wrong with $YFI ?Yearn.finance once the face of Decentralized Finance. Recently got a solid growth followed by a sudden 40% dump in minutes. What went wrong with it. Yearn Finance Got extraordinary growth in Last few months from 9000$ to 14000$ it spell a healthy 50%. The Active users on-chain also growing at a significant rate but suddenly the price plummed by a Strom and it lost its majority of marketcap fraction of few hours. So, what really happened. How once The Face of DeFi melted this bad way let's Find out. ♦️ Nearly half of the entire supply of YFI is held in 10 wallets. ♦️ And now this rumour is coming that this was an exit scam by insiders.♦️ Its market cap also vanished in hours, down from $525 million to $296 million.♦️ As per data shared by @lookonchain, a wallet also transferred 446 YFI ($5.8 million) out, and most of which was deposited to exchanges.♦️ A whale (@0x7d54)  also sold 96 YFI for 636 ETH ($1.23 million) at a price of $12,893 before YFI plummeted.The DramaOn 12 Nov, this wallet (0xE94xx) bought these $YFI   and then transferred to wallet (0x6exx) 7 hours ago. 6hours ago this wallet (0x6exx)sent 4.331m$ worth of #YFI to exchange (probably sold out); So this wallet (0xE94xx) made  1.2m$ from 725k$. @0x7d54 sold his huge $YFI holdings a few minutes prior to the big drop and saved his portfolio, but he boosted the drop significantly with his sells.On 18 Nov, YFI dumped 37% in 8 hoursAt the same time, YFI open interest spiked from $800k to $67m on @dYdX.  The pump and dump of spot YFI prices made it impossible for @dYdX to liquidate users at the right price as prices were moving too fast. This meant that as per dydx protocol, the insurance fund has to step in and insure the sloppy slippaged trades. The dydx insurance fund lost $9.5m.☢️ Kyberswap Hack : How 46M Dollar Stolen in Seconds KyberSwap, a decentralized exchange system, recently reported a significant hack. Here are some key details:♦️ The hack resulted in a loss of approximately $46 million.♦️ The funds were abruptly transferred from protocol-associated wallets into a single wallet.♦️ The exploit targeted funds within KyberSwap’s Elastic Pools liquidity solution.♦️ KyberSwap urged all users to promptly withdraw their funds as a precautionary measure.♦️ This is not the first time KyberSwap has been targeted. In a previous incident, KyberSwap suffered a frontend exploit, resulting in a loss of $265,000. ♦️ In response to that incident, KyberSwap offered a 10% bounty — of roughly $40,000 — to the hacker as means to remediate the situation.⏺️ How The Protocol Was Hacked ?The reason behind the KyberSwap hack was the exploitation stemming from tick manipulation and double liquidity counting. Similar to the bug that earned 100proof a $1 million bounty, the attacker utilized a flash loan to drain pools with minimal liquidity. By strategically manipulating prices and ticks within targeted pools, they executed various swap steps and cross-tick operations, resulting in the double counting of liquidity and ultimately draining the pools.⭕ Attack Impact Across NetworksArbitrum: $20MOptimism: $15MKyber Mainnet: $7.5MPolygon: $2MBase: $315K🔘 Impact Of The Hack According to DefiLlama data, KyberSwap’s total value locked (TVL) dropped by 68% in a matter of hours, and about $78 million left the protocol as a result of the attack and user withdrawals. Its TVL is currently $27 million, down from a peak of $134 million in 2023.☢️ The hacker’s demandsThe following appeared in a transaction that the perpetrator purportedly sent: “Dear Kyberswap Developers, Employees, DAO members, and LPs, Negotiations will start in a few hours when I am fully rested. Thank you.” In addition, the perpetrator sought out, “How is Ontario this time of year?”🛑 2022 Kyberswap Hack The KyberSwap hack in September 2022 was a significant event in the DeFi space. Here are some more details about the incident:♦️ The attacker exploited the frontend of the KyberSwap website. This was different from many DeFi hacks, which typically target smart contracts.♦️The attacker injected malicious code into its Google Tag Manager, which supports the site’s Google Analytics.♦️This allowed the hacker to transfer the user’s funds into their own wallet. The malicious code was designed specifically to target whale wallets containing large amounts of cryptocurrency. ♦️When a user attempted to perform a transaction on the Kyber Network platform using one of these high-value wallets, the malicious code would modify the transaction to include approvals for the attacker’s address.♦️The attacker could then use these approvals to drain value from the high-value wallets. The attacker successfully stole a total of $265,000 worth of Aave Matic interest-bearing USDC (AMUSDC) in 4 transactions from one wallet on Polygon.♦️Another wallet was targeted but managed to revoke the malicious approvals before the attacker could use them to drain funds. After the Kyber Network team identified the issue, they disabled the GTM and restored normal operations within two hours.♦️The affected wallet has also been fully compensated, and, with the help of Binance, has identified two parties involved in the attack.© This piece of article isn't sponsored by anyone the names are taken only for information purposes. By Declaring this we aren't responsible for any Loses if you pouring money in this project after reading our article. This article should be treated as a piece of information not a financial Advice. #safu ▪️Source: (1) HTX, Heco Chain crypto hack: $115 million stolen so far - CNBC. https://www.cnbc.com/2023/11/23/htx-heco-chain-crypto-hack-115-million-stolen-so-far.html.(2) The 10 Biggest Crypto Hacks and Scams of 2023 - MUO. https://www.makeuseof.com/biggest-crypto-hacks-scams-of-2023/.(3) Crypto Hacks Surge in November, Losses Total $173 Million. https://www.cryptotimes.io/crypto-hacks-surge-in-november-losses-total-173-million/.

#Solana (SOL) Exceeds Ethereum L2s by Trading Volume, Data SaysSolana (SOL), high-performance blockchain network, finally surpassed Polygon and Optimism by transactional volume.Traders and analysts are discussing the roots of the "New Solana Summer" as all core metrics of on-chain activity are rocketing. Some of them have already reached pre-FTX collapse levels. NFTs and meme coin segments might be contributing to this upsurge, data says. Solana (SOL) exceeds Polygon (MATIC), Optimism (OP) by transactional volume In early December 2023, the aggregated on-chain trading volume on the Solana (SOL) blockchain surged above $240 million per day in equivalent. As such, the blockchain managed to surpass both Polygon (MATIC) and Optimism (OP), two mainstream Ethereum-based L2s by this indicator.In the first days of December, Polygon (MATIC) and Optimism (OP) demonstrate trading volumes of $137 million and $40 million per day, respectively. As such, Solana (SOL) processes more money on-chain than they do combined. Also, in the last 24 hours, Solana (SOL) exceeded its another rival Avalanche (AVAX) by net value locked in dApps. Solana's dApp ecosystem is responsible for $688 million in TVL, Avalanche (AVAX) dApps logged $660 million. At that pace, Solana (SOL) might surpass the TVLs of Polygon (MATIC) and Optimism (OP) in the coming days.In the last month, Solana's (SOL) TVL added over 60%, while the SOL price soared by 45%. However, it is still lagging behind Arbitrum (ARB), a dominant Ethereum (ETH) L2. Arbitrum (ARB) amassed almost $2.2 billion in TVL, while its daily trading volume exceeds $363 million in equivalent. SolScriptions and meme coins triggered Solana (SOL) comeback The rally of Solana (SOL) and its network indicators can be attributed to a combination of powerful catalysts. For instance, the interest in Solana-based Ordinals "SolScriptions" and meme coins triggered the growth of SPL tokens minted on-chain. Then, Solana-based liquid staking protocols like Jito and Marinade Finance are actively attracting new customers and liquidity. Decentralized exchanges like Raydium and Orca are also gaining traction.As covered by Crypto 360 previously, CoinEx Research indicated the DePIN (Decentralized Physical Infrastructure Networks) sector as yet another powerful catalyst for Solana (SOL) ecosystem's rebound.#BTC #SAFU #Web3Wallet #BinanceTournament