Binance has been very strict with account holders who misuse the site. Recently, the exchange banned more than 600 accounts that cheated using its automatic tool, such as bot farms.
In an effort to make things fairer, Binance also announced a new reward system for users who report fraudulent activity.
What happened
Binance has confirmed that it has banned over 600 accounts. Users of these accounts abused Binance Alpha, a feature used in promotions and airdrops. The company discovered that these users were earning rewards inappropriately through automation and bot farms.
Such actions violate both Binance’s wallet terms of use and the platform’s terms of use. Banned accounts will no longer be able to join Binance campaigns or receive promotional rewards. The company will also take back any airdrops or unfairly earned winnings.
Dear user,
In line with our commitment to protecting our users and providing a fair platform, last week we banned over 600 accounts that had abused Binance Alpha by fraudulently using automated tools (e.g. “bot farms”).
We are improving our user feedback mechanism and… pic.twitter.com/97osYbmVqD
– Binance Wallet (@BinanceWallet) October 19, 2025
Binance is improving its feedback and reporting system to simplify the reporting process. You can now report suspicious accounts via an official link. Binance will help verify reports that include supporting evidence such as screenshots, user IDs or wallet addresses.
To encourage community support, it introduced a new reward system. The whistleblower who reports a confirmed fraudulent account will receive approximately 50% of the money recovered. This initiative aims to ensure participatory protection. Binance hopes that by giving users the ability to keep the system clean, it can stop large-scale abuse more quickly.
Why it matters
Binance aims to maintain fairness for all users. The fairness of airdrops and promotions is compromised for some users due to automated systems and bot farms. With their removal, Binance is attempting to restore the sanity and trust of its users.
Other critics, however, expressed concerns. They warned that paying for reports would encourage people to create false allegations or exaggerated reports. However, Binance requires that any report undergo rigorous verification before any action.
Binance announced that more than 600 accounts were banned last week for using unauthorized third-party tools. From now on, any account that uses such tools or violates the terms of Binance Exchange, Binance Wallet or Binance Alpha may be permanently disqualified from all…
-Wu Blockchain (@WuBlockchain) October 19, 2025
Conclusion
The crackdown indicates that Binance takes the issue of fairness and transparency seriously. While banned accounts should serve as a warning, the new reward system gives users a way to help keep the platform safe. Airdrops and promotions are unfair to all users because they use automated systems and bot farms. Binance is strengthening its defenses and asking the community to do the same.
Disclaimer
The information provided by Altcoin Buzz does not constitute financial advice. It is intended for educational, entertainment and informational purposes only. Any opinions or strategies shared are those of the editors/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur as a result of investments related to the information provided. Bitcoin and other cryptocurrencies are high-risk assets; therefore, perform thorough due diligence. Copyright Altcoin Buzz Pte Ltd.
The article Binance Bans 600 Accounts, Adds Rewards for Fraud Reports appeared first on Altcoin Buzz.
