In response to recent account risk control incidents, Binance released Confronting Community Questions: 6 Key Questions About Binance Risk Control, the full text of which is as follows:
Some time ago, the community had a lot of discussions around the account risk control incident. Binance listened to the voice of the community and always paid close attention to it. In line with the open and transparent communication principle, we have summarized the issues that users are particularly concerned about, hoping to help you solve your doubts.
1. Why does Binance cooperate with regulators and law enforcement agencies?
On a global scale, Binance cooperates with global regulators and law enforcement agencies to protect the safety of the ecosystem and all users. At the same time, Binance also has strict standard operating procedures for law enforcement requests. Consistent attitudes and practices.
2. Are the assets of the risk-controlled account safe? Will it be embezzled? Will it be passed on to the government of the country concerned?
Binance, as the worlds largest trading platform, protecting users has always been our highest principle. We solemnly promise that Binance is committed to protecting the security of users’ funds, and will never embezzle users’ funds without authorization, and will never transfer users’ legal assets to any government agency. Please dont believe in rumors, and everyone is welcome to supervise.
3. How will Binance handle the assets of the risk-controlled accounts?
In the absence of a valid court judgment, assets and accounts will be unlocked within a limited period of time (period varies depending on the specific case). If the relevant account does violate the law, the law enforcement agencies in most jurisdictions will request to contact the user directly, and Binance will handle the relevant matter according to the judicial progress.
4. What happened to the accounts that were risk-controlled in the past? How to optimize related processes in the future?
For accounts that have been risk controlled, users can continue to log in to the account and conduct normal transactions. In addition, we will further improve the law enforcement support system. If the law enforcement agencies cannot provide more information and details, Binance will release the risk control (login, transaction and coin withdrawal functions) batch by batch according to the established process, and cooperate more prudently.
5. What should I do if I find that my account has been risk controlled?
If you find that your account is under risk control, the best course of action is to get in touch with the Binance support team to obtain details about the account lock and take the appropriate steps to unlock your personal account.
6. Is the risk control account related to the deposit and withdrawal?
Remind our users again, please be cautious about accepting assets of unknown origin through off-exchange transactions. Once funds of suspicious origin are involved, your account may be assisted in investigation and risk control. It is recommended that users make transactions (especially deposit transactions), please be sure to Choose regular platforms and merchants to avoid risks, and dont lose big because of small things.
