Binance’s KYC Crackdown Underscores Importance of KYC in Web3

Binance has taken action against fraudulent activities within its Megadrop campaign, banning 297 main accounts. One notable incident involved an account that attempted to accumulate over 9,000 KYC profiles. Consequently, these accounts were frozen for attempting to unfairly centralize funds, triggering Binance’s robust risk control systems once again. Furthermore, the funds recovered from these malicious The post Binance’s KYC Crackdown Underscores Importance of KYC in Web3 appeared first on Coin Edition .

Source: Coin Edition