Cryptocurrency exchange Binance has frozen a user’s $1 million account at the request of law enforcement.
A user posing as an active Tezos participant accused Binance of freezing and resetting his corporate account. According to the user, there was $1 million in assets in the frozen account.
1 Million Dollar Account Access Block from Binance
Twitter user TezosBakingBad, in a post he made, tagged Binance and said that the account has been blocked since July and all balances have been converted to zero.
The user, who stated that he had all the materials to open an investigation and inform the community, also received a response from Binance.
Our corporate @binance account is blocked since July 1 without any explanations. Today all our balances were set to zero (more than $1M). We have all the materials to begin the investigation and inform the community, but for now just stay away from Binance and @cz_binance #SAFU pic.twitter.com/PpZSBhYpZS
— Baking Bad (@TezosBakingBad) August 25, 2022
In a direct response to the accuser’s tweet, Binance said:
“The account in question has been restricted as a result of the law enforcement’s request. The user was informed about this via our support chat system on 7/6, 7/12 and 7/22”
https://twitter.com/binance/status/156289055468511233
Binance also stated that it should cooperate with the authorities on all exchanges and respond to their requests; to the user, “attempting to mislead the public about your case will unfortunately not change anything. As you know, you will need to discuss this matter with the responsible law enforcement. You have already been contacted a month and a half ago,” he said.
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