Binance announced last week that it had permanently banned over 600 accounts found to be using unauthorized third-party tools. The company announced that from now on, any accounts found to be violating the Exchange, Binance Wallet or Binance Alpha platform rules or using automated tools (such as bot farms) will be permanently banned from all exchange activities and any profits from Alpha campaigns will be revoked. Users have speculated that these bans are focused specifically on the ChainOpera (COAI) token. Binance, however, did not directly name a specific token but maintained that it has a “zero tolerance policy against abuse of the Alpha platform.” Related News: Altcoin Price Plummets, Developers Announce Buyback to Cover Losses The official statement made by the Stock Exchange included the following statements: To protect our users and ensure a fair platform, we banned over 600 accounts last week that were abusing Binance Alpha and conducting fraudulent trades using automated tools. We are strengthening our user feedback mechanism and actively encouraging our community to report fraud. Confirmed violations will result in accounts being permanently banned from all exchange campaigns, and airdrops and similar earnings will be revoked. The exchange also announced a new rewards system to boost community engagement. This means the first user to report a verified breach will receive a reward of up to 50% of the recovered earnings. *This is not investment advice. Continue Reading: Binance Issues Statement on “Bot Accounts,” the Controversial Topic of Recent Days
$3 Million Worth of Stolen XRP Tracked Down
