Binance, one of the largest Crypto Exchanges globally, has been sued by some Colombian users who had their funds blocked and accounts suspended for unknown reasons.
A group of users who have had their accounts blocked for about five months now has taken the case to the courts to seek redress. Users reported that Binance stopped their accounts because they had received money from illicit activities, according to the FIOD (Tax Information and Investigation Service of the Netherlands). Others even reported that funds was subtracted from their accounts without authorization.
The issue with their Binance accounts started around five months ago, “without explanations or answers” from the cryptocurrency exchange with reports of 20 individuals being affected thus far, but there may be more, Criptonoticias reports.
One of those affected, Andrea Torrente, in an interview with Latin America crypto news site Criptonoticias says that 15 days ago, she had to resort to legal channels and means through her lawyer to try to recover her blocked account.
However, she has not received an official response or reaction from Binance’s legal representatives in Colombia or relevant authorities. Other disgruntled individuals joined together, formed a telegram group, and hired attorneys to create joint lawsuits to seek redress and return of their accounts, with some having over $143,000 and some $1M amongst others.
Although they have had to spend more cash on legal professionals than on their accounts, the crowd is keen to head “to the closing penalties” to get justice. “In theory, this week marks the deadline by which Binance’s legal representative for Colombia and other authorities should be notified.”
In addition, users have said that they can prove the legality of their funds. However, some accounts had transactions linked to the Darknet, albeit unaware of this. Cesar Maya, whose account got suspended cause he unknowingly bought Cryptocurrencies from people involved in the Darknet, asserts, “You ask them [Binance] to give you the freezing order that the FIOD issued, and they tell you to write to a Dutch police courier. Almost six months ago, we got the same response from Binance. They shut down our chats. Basically, they wash their hands. They say they have nothing to do with it and tell you to communicate with an email that is never answered.”
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