Colombian Binance customers upset after their accounts are banned following a Dutch police investigation

A number of Colombian Binance exchange users voiced their displeasure with the suspension and freezing of their accounts after an investigation by Dutch authorities.

The problem with their Binance accounts began about a month ago, “without explanations or responses” from the cryptocurrency exchange, Criptonoticias says. So far, 20 people have been impacted, but there may be more, according to Criptonoticias.

Additionally, some individuals are unable to access “lifetime savings” valued at more than one Bitcoin (BTC), which is now priced at $64,000. Certain users got the following notice while trying to enter their accounts:

“We appreciate your decision to use Binance. The Dutch police are presently investigating your account. To get more information regarding the status of your account, please contact the officer assigned to your case…” Binance informed a user that the notification relating to the Dutch authorities is pre-determined and may not apply in this case.

Dissatisfied users file suit against Binance

Notably, the people in question established a Telegram group and informed the media that they had already engaged an attorney to file joint lawsuits.

Individuals have claimed that the exchange has blocked them from withdrawing funds from their accounts, with others alleging that they cannot even see their balance, much alone trade with it. As a result, a request for more information was made to Binance, which replied as follows:

“We are unable to offer further comment at this time due to the nature of an ongoing criminal investigation.”

According to Binance support replies, the suspension of accounts is the result of a “profiling assessment” conducted by the platform’s legal compliance department. While some users were asked to verify their identities, this did not address the problem, since many people claimed to have already verified their identities.

Uncertain justification for banned accounts

In general, the grounds for the blockades varied; as a consequence, some people were required to provide evidence of Colombian identity and income, while Binance advised others to contact Dutch officials instead

Binance even advised some users to call an American government agency. The Front Range Task Force of the HIDTA, a branch of the ATF, the Bureau of Alcohol, Tobacco, Firearms, and Explosives in Denver.

Also Read: Elizabeth Warren Urges Zuckerberg To Put An End To Facebook’s Novi Cryptocurrency Wallet