in forex brokers that kind of thing is usually done, Forex brokers usually hold contests to attract traders, they usually manipulate the winner, the contestants will usually find it difficult to win because it has been planned a fake winner, but not all brokers do that, to be honest i don't know if binance also uses fake winners, because I haven't researched it, that's why I don't really like trading contests, because most companies plan fake winners, it is a classic strategy to attract traders.
It is so easy to manipulate a trading contest because everything is controlled by the contest sponsor or the people behind it. Of course, they can announce winners which are actually made-up or not existing but given that Binance has a reputation to protect this is quite a big surprise -- if it is true at all. Maybe we can ask Binance to clarify these things so we can catch the fish out of its mouth. In case Binance or maybe some people in Binance charge of this contest has resorted into this trick now how much more those which have lower reputation?