After the fall of FTX which shook the crypto exchanges, it is the turn of the CZ exchange, to face difficulties. Binance P2P Marketplace Users Are Experiencing Data Issues‘access to their funds. The crypto exchange in troubled waters?
Binance customers denounce the crypto exchange
Since the collapse of FTX, Binance has been the target of criticism. Many investors have even blamed him for having contributed to the downfall of Sam Bankman-Fried’s business. Today, the largest crypto exchange is struggling. It started when he announced that Binance customers will no longer be able to withdraw amounts below $100,000 through the SWIFT network. Binance was also forced to shut down some accounts linked to the Russia-based exchange Bitzlato, which used the exchange to illegally funnel funds.
Binance users are therefore demanding answers about their lost money. The first user to report the exchange said he couldn’t withdraw his savings through Binance’s P2P marketplace. Customer service responded that the funds were stolen and canceled the transaction. others traders have encountered similar issues, not getting a satisfactory solution from the exchange.
A possible link with changes to the P2P policy
Without an official statement, Binance continues to send automated messages. BeInCrypto then looked for answers that could explain these problems. According to a law firm dealing with P2P traders, Binance has started blocking P2P accounts from multiple transactions of the same amount and from the same person. He claims that this could align with the latest changes to the P2P policy released on January 31.
The best technique would therefore be to diversify the group of people you work with in P2P, the firm says. He also recommends avoiding splitting a large transaction into several small transactions. Also, keep in mind that Binance might just temporarily experience some technical issues.
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