Binance, one of the world’s largest cryptocurrency exchanges, has recently come under fire for allegedly allowing bot trading on its platform. The accusations came to light after a user on Reddit claimed that he had lost money to a bot trader on Binance.

The user, who goes by the name of u/Jimbob99, posted his story on the popular subreddit r/cryptocurrency. In his post, he detailed how he had been trying to trade Bitcoin on Binance but kept getting outbid by a bot trader.

He said that he had lost around $5,000 to the bot over the course of a few weeks.

This story quickly caught the attention of other users on Reddit, many of whom began to voice their own concerns about bot trading on Binance. Some users even went so far as to accuse Binance of being complicit in the practice, claiming that the exchange must be aware of what is going on and is not doing anything to stop it.

In response to these accusations, Binance CEO Changpeng Zhao took to Twitter to address the issue. He stated that Binance does not allow bot trading on its platform and that any users who are caught doing so will be immediately banned.

Zhao also said that he was not aware of any instances of users losing money to bot traders on Binance and that he would personally look into the matter.

Since then, there has been no update from either Zhao or Binance on the matter. However, many users are still skeptical about the exchange’s claims and believe that more needs to be done to combat bot trading on Binance.

At this time, it is unclear whether or not bot trading is actually taking place on Binance. However, if it is happening, it is likely that only a small minority of users are affected by it.

Nevertheless, the issue highlights the need for exchanges to be more transparent about their policies and procedures regarding bots and trading activity on their platforms.