According to ChainCatcher, Binance announced that it will take measures to combat account abuse and maintain platform compliance and market credibility. Binance found that some account functions were abused, and users used these accounts to gain unfair advantages, such as more favorable rates or higher API limits. In order to ensure the fairness of the platform and protect the interests of users, Binance will further strengthen the monitoring of all account usage and related activities, and investigate potential or suspected abuse incidents. When necessary, Binance will take appropriate measures, including suspending or terminating the use of relevant accounts.

In addition, Binance encourages users to report account abuse and will provide rewards for verified abuse cases. Users can report by sending an email to misuse-reporting@binance.com.