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Binance Suspends Over 600 Accounts for Using Unauthorized Tools

Binance has suspended more than 600 user accounts after identifying the use of unauthorized third-party tools on its Alpha platform. The exchange said the decision aligns with its ongoing commitment to maintaining fairness, transparency, and integrity across its ecosystem.

In a statement shared on X, Binance urged its community to help uphold the platform’s standards by reporting any fraudulent or non-compliant activity, adding that accounts found using external automation or cheating software could face permanent suspension. The exchange also noted that it may revoke any profits earned through unfair participation in Alpha-related programs.

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New Whistleblower Program Rewards Verified Reports

Alongside the bans, Binance announced a whistleblower reward initiative designed to encourage users to report rule violations. Under the program, individuals whose verified reports lead to confirmed disciplinary action may receive up to 50% of the recovered funds from the offending accounts.

The exchange asked users to submit their reports through official channels and to include detailed evidence, such as screenshots, user IDs, IP logs, or blockchain addresses, to assist in accurate and efficient investigations.

“We sincerely invite the community to take part in oversight and report any suspected fraudulent behavior,” Binance wrote, calling the initiative part of its broader mission to build a safer, more transparent trading environment.

Binance Launches Relief and Loan Funds After Market Crash

The crackdown follows a turbulent period for the crypto market, which recently lost around $20 billion in value. In response, Binance rolled out several support programs to assist traders and strengthen market stability.

Last week, the exchange unveiled a $400 million relief fund aimed at helping users affected by the downturn. Of that amount, $300 million will be distributed in token vouchers worth between $4 and $6,000, depending on user eligibility.

In addition, Binance plans to launch a $100 million low-interest loan fund to support institutional clients and ecosystem partners hit by recent volatility, easing liquidity stress across the market.

While clarifying that it is not responsible for individual trading losses, Binance described the relief initiatives as part of a larger strategy to restore confidence and stabilize the crypto sector.

Reinforcing Trust Through Enforcement and Support

Binance’s latest measures highlight a dual approach: combining strict enforcement against rule violations with financial assistance for legitimate users. Through tougher compliance, transparent community involvement, and targeted relief efforts, the exchange appears determined to reinforce accountability and trust amid one of the most volatile phases in the crypto market’s recent history.

Simonas Brazionis

Blockchain Expert

Simonas is a crypto and blockchain expert with 6 years of experience. Passionate about the industry he educates others on blockchain technology, and continuously expands his knowledge. He has helped many newcomers understand crypto, navigate investments, and stay informed about trends like DeFi and NFTs.