📣 BingX Accused of Confiscating $90,000 in User Bonuses
posted 4 Jan 2024
A trader, known as miz, has accused the crypto exchange BingX of unjustly confiscating over $90,000 in bonuses and demanding the closure of his account. The exchange cited suspicions of high-frequency trading but declined to provide specific evidence of violations.
“I asked my BD if he could reach back out to their “Risk Team” and have them provide me examples, however, they were unable to provide examples,” miz wrote.
The user reported that his trading was initially restricted through the API, then the web interface, and eventually, he was completely barred from withdrawing funds. After some negotiations, BingX gave miz an ultimatum: forfeit all his bonuses and withdraw his personal funds, with the condition that he ceases all future trading on their platform.
It's noteworthy that BingX, which recently became a sponsor of the Chelsea Football Club, has previously faced various allegations. This includes its ongoing operations in russia, where the exchange has repeatedly professed support for the russian crypto community and organized various events.
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