Binance, a leading global cryptocurrency exchange, has recently identified and moved to curb bot activities disrupting its early access token distribution system, Alpha. The company announced the measures on June 4th, stating that some groups were using bots to participate in Alpha activities, thereby compromising the fairness of the Binance Alpha Points program.
The exchange has taken prompt action to stop this unfair activity. “We have revamped our risk control systems to improve the detection and handling of such behavior,” Binance stated. The company warned that any use of bots will be considered a violation and it “reserves the right to revoke the Binance Alpha Points eligibility of accounts engaged in such activities, and may put additional restrictions in place if necessary.”
The company did not respond to Cointelegraph’s request for comment at the time of publication. Binance Alpha is an early-access hub within Binance Wallet. Here, users can explore vetted, nascent Web3 projects, purchase “Alpha” tokens before potential exchange listings, and accumulate Alpha Points.
These points are part of a scoring system based on wallet balances and trading activity, which determines eligibility for token-generation events and airdrops. The program is a significant influencer of BNB Chain activity with over 71% of Alpha tokens being launched on BNB Chain as per reports from May.
However, the service has faced some criticism with accusations of it “killing airdrops” and hindering early community building through testnet usage. Airdrops, a method of marketing and distributing free tokens to holders of an existing cryptocurrency, have been at the center of scam tactics where bad actors exploit the hype, leading to potential wallet drains through bogus campaigns.
