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Binance Detects and Freezes Fake Accounts Opened for Megadrop

Binance

As Binance’s recently launched Megadrop platform continues to gain popularity, it has also attracted those seeking to exploit the system for unfair gains. In a recent incident, Binance identified a user who had opened over 9,000 KYC-verified accounts in an attempt to manipulate the airdrop rewards. This individual’s actions highlight the lengths some may go to exploit crypto platforms.

The practice of opening multiple accounts to participate in airdrops and gain an unfair advantage is not uncommon. Binance, like many other exchanges, has implemented measures to detect and prevent such fraudulent activities. However, these attempts persist, as evidenced by the recent Megadrop incident.

Binance acknowledged the issue and provided details regarding the identified user. The exchange stated that it had frozen 297 accounts, one of which belonged to the individual with 9,000 KYC-verified accounts. It further revealed that over 102,000 fake accounts had participated in the Lista token Megadrop campaign, out of a total of 1 million participants.

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