{"id":488059,"date":"2022-08-26T22:15:00","date_gmt":"2022-08-26T19:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-froze-1m-corporate-account-due-to-law-enforcement-request\/"},"modified":"2022-08-26T22:15:00","modified_gmt":"2022-08-26T19:15:00","slug":"binance-froze-1m-corporate-account-due-to-law-enforcement-request","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-froze-1m-corporate-account-due-to-law-enforcement-request\/","title":{"rendered":"# Binance froze $1M corporate account due to law enforcement request"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a408d92ba8c8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a408d92ba8c8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-froze-1m-corporate-account-due-to-law-enforcement-request\/#%E2%80%9D_Binance_froze_1M_corporate_account_due_to_law_enforcement_request_%E2%80%9C\" >&#8221; Binance froze $1M corporate account due to law enforcement request  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_froze_1M_corporate_account_due_to_law_enforcement_request_%E2%80%9C\"><\/span>&#8221; Binance froze $1M corporate account due to law enforcement request  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMjdiMGVjMmYtY2JhZi00ZjU0LTk4ZjYtMWQ2YWJhYWJlOTdhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Major crypto exchange Binance has confirmed it restricted account access to $1 million in crypto for a Tezos tool contributor after being called out on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>.<\/p>\n<p>In a Thursday Twitter thread, Binance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance\/status\/1562890554668511233\">said<\/a> it had restricted the account of Tezos staking rewards auditor Baking Bad \u201cas the result of a law enforcement request.\u201d The Tezos contributor alleged that the crypto exchange had blocked access to its corporate account containing Bitcoin (BTC), Ether (ETH), Polgyon (MATIC), Tether (USDT) and other tokens since July 1 \u201cwithout any explanations\u201d \u2014 a claim Binance denied. <\/p>\n<p>\u201cBakingBad is well aware of [Binance\u2019s actions], as he was already advised of this multiple times and provided the LE contact form through our support chat system on 7\/6, 7\/12, and 7\/22,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance\/status\/1562890554668511233\">said<\/a> Binance. \u201cAttempting to mislead the community in regards to your case will not change anything, unfortunately.\u201d<\/p>\n<p>The exchange <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance\/status\/1562908518742499328\">added<\/a>:<\/p>\n<blockquote><p>\u201cBinance is required to cooperate with such requests, the same as any other exchange. There is a process to contest the seizure with the agency should you wish to pursue that path. But that is done through the agency, Binance has zero control over that process.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The account in question was restricted as the result of a law enforcement request, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TezosBakingBad?ref_src=twsrc%5Etfw\">@TezosBakingBad<\/a> is well aware of, as he was already advised of this multiple times and provided the LE contact form through our support chat system on 7\/6, 7\/12, and 7\/22.<\/p>\n<p>\u2014 Binance (@binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance\/status\/1562890554668511233?ref_src=twsrc%5Etfw\">August 25, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nIt\u2019s unclear to which law enforcement agency Binance was referring, given the exchange and its subsidiaries operate in many countries across the globe. Baking Bad\u2019s LinkedIn page <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/tezos-baking-bad\/\">showed<\/a> the platform was based in Estonia, where many companies providing crypto-related services were subject to additional Anti-Money Laundering restrictions starting in February.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance to suspend ETH and ERC-20 deposits and withdrawals during Merge<\/em><\/strong><\/p>\n<p>Binance has previously shown deference to many law enforcement and regulatory authorities that imposed sanctions on Russia-based entities and individuals following the start of the war in Ukraine. A spokesperson told Cointelegraph in February that Binance would not \u201cunilaterally freeze millions of innocent users\u2019 accounts,\u201d with CEO Changpeng Zhao saying the exchange must comply with sanctions in much the same way as traditional financial institutions. In April, the exchange restricted accounts of Russian nationals and residents\u00a0so they could not deposit or trade using Binance\u2019s spot, futures and custody wallets, as well as staked and earned deposits.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-froze-1m-corporate-account-due-to-law-enforcement-request\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance froze $1M corporate account due to law enforcement request &#8220; Major crypto exchange Binance has confirmed it restricted account access to $1 million in crypto for a Tezos tool contributor after being called out on social media. In a Thursday Twitter thread, Binance said it had restricted the account of Tezos staking rewards&#8230;<\/p>\n","protected":false},"author":1,"featured_media":488060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMjdiMGVjMmYtY2JhZi00ZjU0LTk4ZjYtMWQ2YWJhYWJlOTdhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74860,55229,70934],"class_list":["post-488059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-cryptocurrency-exchange","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=488059"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488059\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/488060"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=488059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=488059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=488059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}