Binance Bans Airdrop Hunters After Lista Megadrop Fiasco, What’s Happening?

Binance Cracks Down on Fraudulent Accounts Following Lista Megadrop

In the wake of a controversial Megadrop event, Binance has taken decisive action against a significant number of fraudulent accounts. This has led to a substantial crackdown on airdrop hunters exploiting the platform.

The Lista Controversy

The incident unfolded following the distribution of Lista (LISTA) tokens. According to reports, individuals exploited multiple Binance accounts to maximize their rewards from the Lista Megadrop event. After receiving the rewards, these users consolidated the funds into single accounts and sold them.

Binance's Response

Binance's terms and conditions for the Megadrop explicitly prohibit malicious behavior, including volume manipulation, bulk registration of small accounts, and self-trading. Binance confirmed the authenticity of these claims, revealing that some individuals had purchased large numbers of KYC-verified accounts in bulk to obtain the Megadrop rewards.

"After being flagged by the system's risk control, they attempted to consolidate the funds into one account to evade detection, which triggered another risk control measure, leading to a freeze," Binance explained.

Consequences

The exchange underscored that several main accounts were banned. Furthermore, it revealed that one account consolidated up to 9,000 KYC-verified accounts. Binance has frozen the assets and demanded refunds from the fraudulent accounts.

Binance's move highlights its commitment to maintaining the integrity of its platform and rewarding genuine users. The exchange continues to monitor for and take action against malicious behavior to protect the interests of its users.