So apparently there was this lvl 1 character who found out how to dupe gold earlier today who was trading 111000+ gold to random people in Ironforge today. Those who got the gold were eventually banned from game.
Any posts that remotely revolve around this topic kept being deleted from the WoW Customer Service forums.
I had actually called Blizzard billing, and they also said that they have no info and that any banned accounts are pending investigation. Eventually those that were banned will receive an email regarding to their account's future.