Binance and its CEO, the world’s largest cryptocurrency exchange in terms of trading volume, recently had a problem with a user. After the issue, CEO Changpeng Zhao announced that they suspended the user’s account. Here are the details…
User blames Binance exchange for 3Commas exploit
Binance has closed the account of a user who used Twitter to complain about the crypto exchange. The user claimed that CEO Changpeng Zhao (CZ) did not help them get back funds they said were stolen from their account. Now the customer now has three days to withdraw his money. The client in question is a Twitter user with the username CoinMamba. A futures trader and crypto investor by profile.
The user started tweeting about Binance on Tuesday after claiming that he lost money from his Binance account due to a leaked API key linked to crypto trading platform 3Commas. The user said they didn’t get much help from Binance in getting these funds back. Meanwhile, Binance stated that the user was “making threats” to the company’s customer service team. He claims that this also led to his account being suspended.
User continued to disparage Binance
CoinMamba is not the only investor exploited by 3Commas, as we have also reported as Kriptokoin.com. Many users have stated that the crypto trading service has leaked their credentials. He claimed that it allowed attackers to steal user funds. However, the CEO of the platform denied these claims, calling them “false rumors”. The exploits took place not only in Binance, but also in many other exchanges.
On Friday, CZ replied to CoinMamba, “There is virtually no way we can make sure users are not stealing their API keys.” After that, CoinMamba accused CZ of being “greedy”. He began posting multiple tweets claiming that “all these exchanges are scammers.” In a now-deleted tweet in response to CoinMamba, CZ wrote that he was considering switching CoinMamba’s account to withdrawal-only mode because it was acting “unreasonable.” CZ also used the following statements:
In addition to 3Commas, I’m actually considering putting @coinmamba’s account in deactivation (withdrawal only) mode. We don’t want to serve unreasonable people. This is a two-way situation. There may be a lot of criticism, but it is…
The exchange closed the user’s account
About an hour later, CoinMamba’s account was shut down by Binance in response to “threats” made to customer service employees on the world’s largest exchange by volume. It was stated that the user “refuses to file a complaint with the police”. Instead, he allegedly tried to blame the exchange by demanding compensation. Binance’s support account on Twitter replied, “You’ve gone so far as to make threats to CoinMamba that we won’t tolerate.”
Following this development, CoinMamba told a cryptocurrency media platform that it was “just an excuse”. The user stated that what he wrote to the stock market was the same tweet he sent to CZ. “The main reason I got suspended was for my public tweets,” he said.
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