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A Shocking Decision from Binance! The Account has been Suspended!


The world’s largest cryptocurrency exchange, Binance, suspended the user’s account on December 9 after a user complained about the exchange’s response to the alleged theft of funds. Binance CEO Changpeng Zhao (CZ) drew attention to the fact that the company does not want to serve customers who act “unreasonably”.

The User’s Account Has Been Suspended

An anonymous cryptocurrency investor and trader known as CoinMamba on Twitter began complaining about funds disappearing from his account on December 8, claiming that a leaked API key connected to cryptocurrency trading company 3COMMAS was used to ”trade small-cap coins in order to raise prices. The crypto currency trader stated in a series of tweets that Binance could not provide him with the support he needed.

Binance CEO CZ also responded to COINMAMBA on December 9 to clarify what was happening with the user’s account.

While the user continued to complain about Binance on the social media platform, CZ admitted in another tweet that they were considering putting the user’s account in closed mode (withdrawal only) and said, “we don’t want to serve people who act irrationally.” CZ later deleted his tweet in question. After this tweet, it turned out that the exchange user’s account was suspended and he was given three days to withdraw the balance from his account.

CoinMamba, while denying the allegations that the 3Commas protocols and database were hacked in a tweet, maintained that it had no responsibility for the stolen API keys. “Based on the information we have today, we have determined that none of our encryption protocols have been hacked and that there has been no hacking attack from 3COMMAS’ account security database,” the 3Commas front said in a statement.

Other Twitter users also raised the issue of the alleged API hack, demanding that Binance stop withdrawals and investigate the incident.

Binance CEO Had Warned in the Past

On November 13, Binance CEO CZ confirmed that at least three users had made unexpected transactions on their accounts after sharing their API Keys with third-party platforms Skyrex and 3Commas, and advised users to delete these API keys.

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