The post Binance Bans Over 600 Accounts for Using Unauthorized Tools appeared first on Coinpedia Fintech News
Binance has announced that it banned more than 600 accounts last week for using unauthorized third-party tools. The exchange stated that it is taking strong action to protect fairness and maintain trust within its community.
According to Binance, these accounts violated the terms of Binance Exchange, Binance Wallet, or Binance Alpha. Going forward, any user found using such tools or breaking platform rules may face permanent disqualification from all Binance activities. In addition, any earnings made through Binance Alpha events will be revoked.
The company said it remains committed to safeguarding the rights and interests of genuine users while ensuring a level playing field for everyone. Binance also invited its community to take part in monitoring and reporting suspicious or non-compliant behavior.
As part of the new policy, users who report verified violations will receive a reward. The first person whose report is confirmed by Binance may earn up to 50% of the reclaimed profits from the banned accounts.
Binance has urged users to submit detailed reports through its official links. These reports should include as much information as possible, such as screenshots, user IDs (UIDs), IP addresses, or blockchain addresses, to help the team verify cases efficiently.
With this move, Binance aims to strengthen platform security and transparency. The exchange thanked its users for their continued cooperation and support in building a safer crypto trading environment for everyone.