Binance bans more than 600 accounts over ‘unauthorized third-party tools’

Binance announced it has banned more than 600 user accounts for employing unauthorized third-party tools, according to a statement posted on its Chinese-language X handle. Users found violating the terms of Binance Exchange, Binance Wallet, or Binance Alpha face permanent disqualification from all Binance activities and potential forfeiture of profits earned in Alpha events. While the specific tools were not detailed, the exchange warned that unapproved trading bots, API misuse, and account-sharing violate their updated Terms of Use. Binance also encouraged users to report suspected abuse, offering a bounty of up to 50% of reclaimed profits to verified reporters.

(Source：The Block)