Binance Suspends Account of Customer for Being ‘Unreasonable’

Binance has closed the account of a customer who criticized the world’s largest crypto exchange and its CEO Changpeng Zhao (“CZ”) on Twitter for allegedly getting exploited on the exchange, giving them three days to withdraw their funds.

The customer, who goes by the name “CoinMamba” on Twitter, and according to their profile, is a futures trader and crypto investor, started tweeting about Binance after he lost funds due to a leaked API key that was tied to crypto trading platform 3Commas on Tuesday. The user said they didn’t receive much help from Binance in getting these funds back. Binance alleged that the user “made threats” to the company’s customer service team, which led to the suspension.

CoinMama isn’t the only one who has been exploited by 3Commas. Over a dozen users have alleged the crypto trading service of leaking their credentials and enabling attackers to steal user funds, but the platform’s CEO denied those allegations, calling them “false rumors.” The exploits happened not just on Binance but multiple other exchanges as well.

On Friday, CZ replied to CoinMamba, saying that “there is almost no way for us to be sure users didn’t steal their own API keys,” after which the influencer started publishing multiple tweets accusing CZ of being “greedy” and claiming that “all of these exchanges are shady.”

In response to CoinMamba’s rant and in a now deleted tweet, CZ wrote that he was considering putting CoinMamba’s account in withdrawal only mode because he was “unreasonable.”

“On top of 3Commas, I am actually thinking of putting @coinmamba’s account in off boarding (withdrawal only) mode,” CZ tweeted. “We don’t want to service people who are unreasonable. Just more problems down the road. It’s a 2 way street. Might get a lot of flak, but…”

About an hour later, CoinMamba’s account was closed by Binance in response to “threats” he made to customer service employees at Binance.

“You have doubled down, refusing to file a police report and instead attempting to blame us, demanding compensation. You have even gone as far as to make threats, which we will not tolerate,” Binance’s Customer Support account on Twitter replied to CoinMamba.

In a direct message, CoinMamba told CoinDesk this was "just an excuse."

"It was the same thing I told CZ in a tweet how they will pay for this. Main reason for suspension was my public tweets," the user said.

Binance has not responded to a request for comment.

Update (Dec. 9, 2022, 20:38 UTC): Adds a comment from CoinMamba.