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What Are The Reasons You Can Get Suspended On Phemex?

As one of the most efficient crypto trading and investment platforms in the industry, Phemex provides a secure and versatile method to invest in and trade cryptocurrencies. However, when accounts violate our terms of use, we will suspend bad actors to create a safe environment for the rest of our users.

The following are the primary reasons for why your account may have been suspended:

  1. Abuse of the Bonus System

Any of the following actions intended to abuse our bonus system will result in immediate suspension or ban: batch account registration, profiting from market manipulation, self-trading, or wash trades. Your account will be banned if we detect any deceptive or dishonest behavior.

  1. Hacked or Compromised Accounts

Unfortunately, some types of malware or viruses may grant hackers access and control over your Phemex account. If our security team suspects that your account has been targeted, we will suspend your account as a preventative measure.

  1. Fraudulent KYC (Identity Verification)

Phemex does not allow accounts registered with someone else’s information. We do not support account impersonations and strictly prohibit the selling/buying of accounts.

  1. Abnormal Account Activities 

Accounts that use scripts or plugins to simulate web-side trading will be suspended or banned—using applications that allow users to acquire an unfair competitive advantage while trading is prohibited. However, please note that API trading is still allowed.

  1. Market Manipulation

Phemex strictly prohibits any form of insider trading or attempt to manipulate the market. Such actions violate our terms of service and will result in account closure.

  1. Money Laundering 

Phemex reserves the right to suspend or ban any account suspected of violating our anti-money laundering (AML) policies.

  1. Law Enforcement Requests

In the event of a legal request from a law enforcement agency to aid their investigation, your account may be temporarily suspended per the law enforcement request.


Phemex reserves the right to modify or amend all policies and make final determinations on our platform at any time. The safety, security, and integrity of our platform and user accounts will always remain our top priority. For more information, please contact our customer service team at

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