Yi He urges 📣 users not to transfer funds linked to illicit activity or collected on behalf of others to Binance
They may be frozen by law enforcement. On November 8, Binance CEO Yi He said: Please be mindful of situations such as “a friend’s discounted U,” “coins sent on-chain by a relative,” “money from doing business in Myanmar,” “payments collected in Cambodia,” or “a friend’s money that just passed through your account.” Please don’t transfer funds from these sources to Binance. Binance has strict global compliance standards, and these types of funds are easy for the compliance team to identify. Associated addresses are flagged before illicit funds enter Binance. Incoming funds may be frozen by law enforcement. These cases are generally complex and can take a long time to resolve. Binance has no authority to unfreeze the funds. Let’s understand and respect one another.
They may be frozen by law enforcement. On November 8, Binance CEO Yi He said: Please be mindful of situations such as “a friend’s discounted U,” “coins sent on-chain by a relative,” “money from doing business in Myanmar,” “payments collected in Cambodia,” or “a friend’s money that just passed through your account.” Please don’t transfer funds from these sources to Binance. Binance has strict global compliance standards, and these types of funds are easy for the compliance team to identify. Associated addresses are flagged before illicit funds enter Binance. Incoming funds may be frozen by law enforcement. These cases are generally complex and can take a long time to resolve. Binance has no authority to unfreeze the funds. Let’s understand and respect one another.
