I am having this issue on two separate sites. I have completely removed BuddyPress and installed a fresh copy from the BP website to both sites and this issue is still happening. Is there anyone that is having this same issue that can help me out? One of my sites has about 50-100 registrations per a day and I can not keep manually activating them.
Plugins, I have stripped down to the bare minimum, to keep my site somewhat functional (all are updated to latest version):
BuddyPress Security Check
Jetpack Only For Admins
Remove Dashboard Access
I even deactivated most of these to strip it down even more and created a new account. Still having the issue.