Post
Topic
Board Beginners & Help
Re: What could make an exchange to seize users assets
by
dkbit98
on 12/03/2023, 21:43:08 UTC
Coinbase exchange was launched in 2012 right? Have there ever been any cases of users' assets being frozen and never released to them? I know someone living in the united states, she said that Coinbase seized her crypto in 2020 within that COVID-19 period and to date, the assets were never released back to her. I respect coinbase so much and I am curious why such a thing would happen.
It can happen for any reason and they don't even need to give you real explanation why they froze your coins.
They can claim your coins are involved with some hacks and stolen funds, or they can say your source of funds is suspicious, and it can even happen because of you location.
This can happen with all centralized exchange, not just for Coinbase but I think Coinbase is going to be inbig trouble because of connection with USDC so better withdraw coins to your own wallet.
You can use P2P trading and decentrlaized exchanges, than you dont have to worry that someone will freeze your accounts.