In May, the FBI confiscated nearly $400,000 worth of cryptocurrencies from Binance accounts, as indicated by recent public notices. The seizure involved bitcoin and tether, totaling around $397,221, from six Binance accounts between May 2 and 23, as detailed in federal forfeiture documents. These assets were seized for violations of federal law, according to the FBI’s notice.
Despite facing legal challenges from US agencies like the SEC and CFTC, Binance asserts its cooperation in such investigations. The exchange collaborates with law enforcement globally to identify funds tied to criminal activities and deter malicious actors.
Binance has blocked US users since 2019, and residents in certain states are unable to access Binance.US. The exchange enforces strict KYC policies and restricts access for identified US citizens, irrespective of location. Devices connected via US cellular providers or US IP addresses are also blocked. Withdrawals and deposits from US banks and credit card companies are not allowed.
While some users have found ways to bypass these restrictions, Binance remains committed to preventing access from the US. The FBI did not comment on the seizures or its relationship with Binance. The FBI’s public notices also indicate seizures from accounts on other exchanges, including $30,000 from Bybit and $16,000 from Freewallet users.
By FCCT Editorial Team
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