The world’s leading crypto exchange platform Binance recently took to its X account to comment on the activities of airdrop hunters that might be exploiting its new project “Megadrop.”
Possible Megadrop Exploits Flagged
A few weeks ago, the crypto exchange launched Megadrop, a new token initiative that smoothly combines Binance Simple Earn and the Binance Web3 Wallet, as it transforms users’ airdrop experience.
Megadrop gives users early access to specific Web3 projects before they appear on Binance. This blend of engagement, education, and rewards makes the new token a unique interactive experience on the exchange and the crypto ecosystem.
The firm has disclosed that it has implemented multiple security measures to deter any suspected accounts or activities from participating.
Dear community,
Thank you for sharing your concerns regarding ‘airdrop hunters’ targeting and exploiting #Binance Megadrop.
Rest assured that we’ve implemented certain risk controls to prevent such accounts from participating. These measures will also be further strengthened in…
— Binance Web3 (@Web3WithBinance) June 22, 2024
This update comes after Binance recently announced that it will list zkSync (ZK) trading pairs along with a distribution program, a move to address community worries and alleviate tension that stemmed from past tradings.
The Binance Megadrop security scheme is also hinged towards maintaining its legacy. This becomes necessary after celebrating 200 million users on its platform.
Binance Frowns At And Fights Crypto Crimes
Over the years, the exchange has developed several initiatives to fight crypto scams and illicit activities.
In March, Binance in collaboration with law enforcement agencies launched the project called “Joint Anti-Scam Campaign.” This program started in Hong Kong and has now expanded to other countries. It was also reported in May that the exchange was a key player in recovering funds from the suspected ZKasino fraudsters.
But in the twist of events, the exchange’s executive, Tigran Gambaryan has been facing a legal brawl in Nigeria. While tax fraud charges against him have been dropped, he is yet to regain his freedom which is expected soon.
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