Binance will take measures to combat account abuse to maintain compliance and market credibility. Binance pointed out in the announcement that the Binance platform provides a variety of account types, including sub-accounts, custody sub-accounts and fund management accounts, which play an important role in various applications. However, these features may also be used by bad actors to try to circumvent their control measures to obtain or sell account access to obtain more favorable rates and higher API limits. In addition, any unauthorized access to other user accounts violates Binance's Terms of Use and KYC/KYB policies.
Binance will investigate all potential or suspected abuse incidents and take appropriate measures to correct the abuse if necessary, including but not limited to suspending or terminating the relevant account access permissions. In addition, Binance has established a reporting abuse channel for users to report any account abuse incidents they encounter. For any verified account abuse case, the official will provide a reward, and the reward amount will be determined based on the specific situation.