Cryptocurrency exchange Binance suspended a user’s account for being “irrational”.
The CEO of the company, CZ, stated that the firm does not want to serve “unreasonable” customers.
Binance Doesn’t Want to Serve Unreasonable Customers
The crypto exchange closed the user’s account the other day after a user reacted to the exchange for alleged money theft. CZ said they don’t want to serve unreasonable customers.
On December 8, Twitter user CoinMamba began complaining about lost funds, claiming that a leaked API key affiliated with crypto trading company 3Commas was used “to trade low-volume coins with the aim of raising the price for profit.”
In his tweets, the trader complained that Binance did not support him.
CZ released a statement on Twitter to clarify the situation.
CZ said they don’t want to serve unreasonable people and is considering switching the user’s account to logout mode (withdrawal only). The tweet was later deleted. The user’s account, on the other hand, was closed for three days in a way that he could only withdraw money.
According to user tweets, 3Commas denied any exploits on its protocols and databases and therefore was not responsible for the stolen API keys.
3Commas used the following statements in a statement:
“Based on the information we have today, we have determined that no encryption protocols have been compromised and that no breaches have occurred in 3Commas’ account security databases.”
Binance CEO confirmed that at least three users encountered unexpected transactions on their accounts after sharing their API keys with third-party platforms Skyrex and 3Commas. It then suggested users to delete their respective API keys.
CoinMamba claimed to have been a Binance customer for over five years.
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