8:55 AM PT -- EBay is cracking down. A spokesperson tells TMZ, "These booklets are prohibited under eBay's policies. Any items that attempt to profit from human tragedy or suffering are not allowed to be sold on eBay."

Sources at eBay assure us that all the programs will be removed and they will educate the sellers who have listed them.

Some of Nipsey Hussle's fans who packed into Staples Center at his celebration of life -- are turning a quick profit off the service by hawking their FREE programs for HUNDREDS of dollars.

Tons of programs from Nipsey's memorial started flooding eBay hours after the service ended, and we've seen some sellers asking for more than $1,000.

One auction ending Friday morning closed at $500 for the piece of history.

Remember, tickets to the Celebration of Life were distributed at no cost, and the booklets passed out at the service were also free -- because Nipsey's family wanted it that way -- so these sellers are turning huge profits off the slain Crenshaw rapper.

It's at least the second time we've seen folks try to use Nipsey's memorial to cash in ... scalpers tried to sell the free tickets for astronomical prices before getting shut down.

Nipsey was remembered as a great man, talented rapper and savvy businessman during his memorial -- so, you could argue he'd see the unabashed profiteering as a smart move.

On the other hand ... his estate and family absorbed all the cost of that amazing memorial service for his fans. So, maybe it's just a bad look.

The capitalism continues.