According to the FIOD (Tax Information and Investigation Service of the Netherlands), a group of Colombian individuals has been complaining on social media for more than five months that Binance has disabled their accounts because they received money from illegal operations. Some users even stated that money from their accounts had been deducted without their knowledge.
Andrea Torrente, one of those impacted, stated in an interview that 15 days ago, she had to resort to legal procedures through her lawyer to try to restore her account, which is now disabled. They still have not received any official answer from Binance’s legal counsel in Colombia or the necessary authorities. Furthermore, she stated that the only accounts that have been unblocked are those of individuals who did not get a blocking notification from the FIOD.
Some users have accounts with up to $1 million in them. One such user stated that when his account was stopped, he had over $1 million in the exchange. This made it difficult for him to profit from the Bitcoin boom. The impacted crypto traders claim to be able to confirm the origin of their funds using financial statements. So they may be able to recoup some money if they can demonstrate that they missed out on a profit potential owing to the platform’s incompetence. Another example is César Maya, who was able to prove using the Chainalysis blockchain explorer that he had purchased bitcoins from people engaged with the Dark Web without being aware of it. Binance, on the other hand, suspended his account for a transaction that constituted less than 1% of his total transactions.
Maya’s lawyer informed her that the corporation could not keep his funds since proving good faith in the purchase of her assets is simple. Furthermore, other individuals who experienced the same issue got their accounts and payments unblocked. Binance has advised its customers to write to the FIOD or the Dutch police, the entities that issued the order.