Sentinel (the anticheat) blocks ip adresses on which too many accounts are banned. So no, you can't exploit this, at some point you'd have to wait several days or months just to be able to play on another account. Unless you have access to several devices and internet connections, and by several I mean so many that the amount of money and the amount of effort that would require isn't worth it for anyone.
And here is a Source so it doesn't look like I am making things up:
https://help.cubecraft.net/en/article/blocked-connections-aod7sq/
And even if you somehow could exploit this: this way of earning xp is so inefficient compared to just playing the game, that its not worth. All I am gonna say is: the xp I would have earned from half a year of reports that I made would equal to less xp than what I earned just from the last 3 days of me just playing the game.