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Binance Hits Back at ‘Embezzlement’ Claim


Binance Hits Back at ‘Embezzlement’ Claim

Binance has fired back at claims that it ‘embezzled’ hundreds of thousands of dollars in funds that were frozen from a user’s account in November 2018. In a lengthy statement the exchange said the funds were frozen at the request of South Korean law enforcement agencies because the account holder had allegedly received 3,995 Ethereum (ETH) through a listing fee scam. Binance provided screenshots of correspondence with the Korean authorities to back up its claims. The user had earlier claimed South Korean law enforcement authorities had no complaints against him. Forkcast reported that $251,194 worth of the seized crypto was totally unrelated to funds tied to the alleged listing scam. “I have every reason to believe that Binance misappropriated my money for itself. Communication with them continues from November 21, 2018. It has been 18 months already,” the user told the publication. Read More...