Australia's Federal Court has ordered Oztures Trading Pty Ltd, trading as Binance Australia Derivatives, to pay an AUD $10 million ($6.9 million USD) penalty after admitting to exposing 524 retail investors to high-risk crypto derivative products without required consumer protections. The misclassification occurred between July 2022 and April 2023, with the misclassified client group incurred AUD $8.66 million in trading losses and paid AUD $3.89 million in fees. Binance admitted to failures in client onboarding that allowed retail clients to make unlimited attempts at a multiple-choice quiz to qualify as sophisticated investors. The penalty is on top of approximately AUD $13.1 million already paid to affected clients in 2023.