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Localbitcoins Shuts Down Accounts In Problematic Countries

LocalBitcoins, one of the oldest cryptocurrency exchanges out there, has reportedly begun to suspend accounts of long-term users without prior notifications.


SOME USERS CANNOT ACCESS BITCOIN FUNDS


Forbes reported on Saturday that users across at least three regions, including Asia, Africa, and the Middle East, had noted their accounts to be “deactivated.”


LocalBitcoins users in countries like Iraq, Afghanistan, Pakistan, Syria, and Nigeria received messages from the exchange operator that were telling them they could take out their Bitcoin holdings by deleting their account. However, some users said they weren’t able to access their funds.


One Nigerian user who manages a three-year-old account told Forbes:


One of my customers was due to travel out of the country and had to sell some of his bitcoin to be able to go only to notice on his way to the airport that he cannot even access his funds. Read More...

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