You don't like it - so ban it.
How far are you planning to take this?
I don't like the Australian cricket team; let's ban them so they can never regain the Ashes. (they probably cheat :wink: )
Because a few idiots cheat, then everybody else suffers. OK, there are going to be people (probably the same ones) that have illegal copies of the game - what do you do about them? I know, withdraw the game.
Even if you withdraw the mods it will not stop the cheats. Do you seriously think the only people that can make modifications to the code are the modders that publish and share their work for us off-line players to use if we want. It is not difficult, and any mods will be freely available elsewhere.
I drive a Lotus, but I have found a way to make me a lot faster than any other car if I wanted, using a "home made mod". It was an experiment I did and I don't have a lot of knowledge of coding. However, I do have a hex editor and common sense. I could now go on-line and blow you all away, but what's the point. I would know I was cheating, you would know I was cheating. Answer: don't race against me.
(Personally, I am happy to struggle off-line and attempt to finish higher than 15th in qualifying and full length race)
Leave the mods on the site - or ban the game.