Crypto News

Binance freezes accounts in light of Bitzlato investigation

Binance has temporarily suspended multiple accounts on its platform

Binance, a cryptocurrency exchange, has shut down multiple accounts in connection to the Bitzlato investigation.

Russian-speaking users of the exchange reported about their accounts being blocked and not being able to withdraw their funds.

The blockages are believed to be related to enforcement action against Bitzlato by the US Department of Justice and the US Financial Crimes Enforcement Network listing Binance as a top Bitcoin counterparty of Bitzlato.

A Binance spokesperson confirmed the suspensions were due to the Bitzlato case and stated that the majority of the accounts have been unlocked and all funds are safe.

Bitzlato was a cryptocurrency service that allowed users to trade crypto through exchange and peer-to-peer services, mainly operating in Russia.


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