According to Foresight News, Binance responded to the "closure of Australian user contract positions" by saying that this was due to the misclassification of some accounts. The team found that some Australian users were mistakenly classified as "wholesale clients" on Binance. According to Australian regulations, we are required to notify these users and immediately close their derivatives positions. We have contacted all affected users and will fully compensate them for their losses in derivatives trading.

Foresight News previously reported that @skyquake_1 said Binance Australia closed its derivatives positions and accounts.