Investing.com – After numerous complaints from a large trader on the Binance digital platform, the world’s largest cryptocurrency exchange by trading volume, the platform has made the decision to suspend the popular trader’s account.
According to the news, Binance suspended the trader’s account after complaints were made on Twitter. Binance CEO Changpeng Zhao said the company does not want to serve “unreasonable” customers.
Cryptocurrency exchange Binance closed the trader’s account after a user complained about the exchange’s response to the alleged theft of funds.
The CEO of the company said that the company does not want to provide its services to insecure customers and therefore we have suspended the account until further notice.
A user by the name of CoinMamba on Twitter began complaining about the missing funds on December 8, claiming that a leaked API key linked to trading firm 3Commas was used to “make trades on low-cap coins to drive up the price to make a profit.”
The trader claimed in a series of tweets that Binance was unable to provide him with the appropriate support, which was reflected in the loss of his funds.
As the user continues to complain on the social media platform, other platforms have admitted that they are considering putting some user accounts out of boarding mode (withdraw only).
The exchanges justified that they did not want to serve insecure people, and the tweet was later deleted but is still available as a screenshot in the message thread. The user’s account was then closed, with three days to withdraw funds.
According to the user’s tweets, 3Commas has denied any exploitation of its protocols and databases, and therefore takes no responsibility for the stolen API keys.
“Based on the information we have today, we have found that no compromised encryption protocols were found and no breaches of the 3Commas account security databases occurred,” a 3Commas support official stated.
Other Twitter users also raised the issue of the alleged API hacker, calling on Binance to stop withdrawals and investigate the incident.
On November 13, the CEO of Binance confirmed that at least three users had encountered unexpected transactions on their accounts after sharing their API Keys with third-party platforms Skyrex and 3Commas.
The Binance CEO has recommended that users delete the relevant API keys, while Coinmamba claims that he has been a Binance customer for more than five years, and still has future deals open on the platform.