Binance massively blocks Ukrainians: crypto exchange accused of discriminating against users

Binance massively blocks Ukrainians: crypto exchange accused of discriminating against users

Media reports that the largest crypto exchange, Binance, is massively blocking the accounts of Ukrainian users, even to the point of deleting them from the system. Representatives of the site denied this.

At first, clients face restrictions on trading operations after withdrawing funds to fiat (national currency) due to popular services, DeCenter reports. Binance explains this as a violation of the user agreement.

When filing a complaint, the decision is usually not made in favor of the clients. In addition, the crypto exchange refuses to name the official reason for restricting access.

After this, users are given some time to withdraw their assets, after which their account will be permanently deleted.

The publication also cites a statement from representatives of the exchange, claiming that “at present, no separate actions are being taken against users in Ukraine.” Binance noted that it adheres to the principle of protecting client funds, but at the same time works closely with government regulators and law enforcement agencies.

"It is important to understand that law enforcement agencies often need to freeze multiple accounts to determine which accounts are or are not participating in their investigations. Unfortunately, this means that these investigations can often temporarily impact innocent users," the marketplace added.