Blockchain
Binance Implements Stricter Measures to Combat Account Misuse and Enhance Compliance
Binance, one of the world’s leading cryptocurrency exchanges, has announced a series of stringent measures aimed at addressing the misuse of account features on its platform. This initiative underscores Binance’s ongoing commitment to uphold compliance and maintain market integrity, reflecting its dedication to leading the industry in compliance standards and ensuring a fair trading environment for all participants.
Stricter Measures to Address Account Misuse
Binance has identified several instances where account features were being exploited to gain unfair advantages, including better fee rates and higher API limits. The platform offers various account types such as sub-accounts, managed sub-accounts, and fund manager accounts, each designed for legitimate purposes. However, these features have also been misused by bad actors attempting to circumvent controls and access or sell access to enhanced account benefits.
Enhanced Monitoring and Enforcement
To combat this misuse, Binance has enhanced its monitoring of all account usage and related activities. The exchange will rigorously investigate all potential or suspected incidents of misuse. If misuse is confirmed, Binance may suspend or terminate the relevant accounts to ensure compliance with its Terms of Use and KYC/KYB policy. This move is crucial to maintaining the fairness and efficiency users expect from reputable platforms.
Reward for Reporting Misuse
In addition to technological enhancements, Binance is establishing a dedicated channel for users to report any incidents of account misuse they encounter, such as the unauthorized selling of access to accounts. Individuals who observe or suspect misuse are encouraged to report it to Binance. The exchange has committed to providing a reward for any verified case of account misuse, with the reward amount determined on a case-by-case basis. Reports can be submitted via email to [email protected].
Commitment to a Fair and Compliant Platform
Binance’s measures to address account misuse are a testament to its commitment to maintaining a compliant, fair, and efficient platform for all users. By fostering a healthy and sustainable market environment, Binance aims to reinforce confidence in its platform and the broader digital assets market.
Binance’s announcement of stricter measures to combat account misuse highlights its dedication to leading the industry in compliance standards. By enhancing monitoring, enforcing stricter penalties for misuse, and encouraging users to report suspicious activities, Binance is taking significant steps to ensure a level playing field for all participants. This initiative not only upholds market integrity but also strengthens user trust in Binance as a reliable and fair cryptocurrency exchange.
Source: blockchain.news
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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Blockchain
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