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.
Coinbase is not the only exchange that is guilty of this nonsense of suspending user's accounts, other exchanges like Binance, Kucoin, and other top-tier exchanges do this thing. I personally know a friend that had about $1750 on his Binance exchange account and they suspend the account in late 2021 without any reason, they only told him that the account is suspected of some activities and they have to review and investigate before they will release the account and till today, nothing has been done on the account.
The only lead we had as the reason why they might have suspended the account was that the guy was using VPN and it is always on his phone but that is not enough reason to block the account, if they fear US law and compliance, they should have warned him in the beginning and adjustment can be done by stop use of the VPN but all of sudden, they call for suspending of the accounts, fear centralized exchanges.
