Binance works to increase monitoring to address account abuse

Binance, the world’s largest crypto-asset trading platform, has taken measures to combat account abuse

1. Strengthen monitoring policies to resolve account abuse issues.
2. Suspend or terminate accounts involved in abuse.

Disable illegal accounts

3. Strengthen monitoring of sub-accounts, custody sub-accounts and fund manager accounts.
4. Establish a channel for users to report account abuse.
5. Establish a reward mechanism to encourage reporting of abuse.

Binance API Limit Abuse

6. Enhanced monitoring of hard limits, machine learning limits, and web application firewall limits.

Binance UAE license approved

7. Binance FZE obtained the VASP license issued by Dubai Virtual Asset Regulatory Authority (VARA).
8. UAE resident accounts transferred to Binance FZE.

BNB Price Performance

9. BNB traded flat at $573 on the day.
10. Down 20% in the past three weeks.

Conclusion

11. Binance demonstrates its commitment to improving platform security and safeguarding user interests.
12. Supports global compliance standards.
13. Binance FZE’s VASP license marks a new stage of business compliance in the UAE.
14. Binance will continue to play a key role in protecting user rights and promoting the healthy development of the industry.

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