🚨 WARNING ABOUT SCAMS IN COPY TRADING AND BINANCE! 🚨

Summary for Binance Square: Copy trading on Binance allows you to replicate strategies from experienced traders, but it carries risks such as scams and losses. Scammers use false promises of high profits or unofficial channels to steal funds. Binance combats fraud with mandatory KYC, AML monitoring, and custody in P2P, but you must protect yourself: verify your account, use only the official platform, enable 2FA, and do not share sensitive information. Trade with caution and avoid falling into traps!

2 Key Quotes:

1. "Binance warns that past performance does not guarantee future profits. Users are responsible for the risks in copy trading."

2. "In 2023, Binance strengthened its AML measures following fines in the U.S., implementing real-time monitoring to detect suspicious activities.