Crypto exchange Binance has banned more than 600 user accounts for violating its terms of service by employing “unauthorized third-party tools,” the company announced via its Chinese-language X (formerly Twitter) account over the weekend.
The centralized exchange stated that, effective immediately, any accounts found using unapproved tools or otherwise violating the terms of the Binance Exchange, Binance Wallet, or Binance Alpha may face permanent disqualification from all Binance activities. This could also include the forfeiture of any profits earned through special events like Alpha, the platform’s pre-listing token-discovery venue.
“Following a review by our team, over 600 accounts were banned last week for using unauthorized third-party tools,” the statement confirmed. While Binance did not specify the exact nature of the implicated tools, the company has recently warned users against the use of unapproved trading bots, scripts, API misuse, and account-sharing.
The exchange has also urged its community to report suspected abuse, offering a bounty of up to 50% of any reclaimed profits to the first verified reporter in each case.
In related developments, Binance has recently completed its acquisition of South Korea’s GOPAX, marking a renewed effort to expand its presence in the Korean market. Furthermore, the exchange publicly disputed claims that it profits from token listings, calling such allegations “false and defamatory,” and reaffirmed that it does not monetize the listing process. Separately, a potential pardon for Binance founder Changpeng Zhao by President Donald Trump has also become a subject of public discussion.
