Frozen funds dispute reminder: CEX risk controls and the boundaries of user rights must be transparent. Diversify assets and keep evidence—don’t let high-leverage profits become a platform risk. $NEAR $XRP $SUI
Breaking: South Korean trader accuses LBank of freezing over $1 million in funds; platform denies restricting account “because of profits”
BlockBeats News, November 11: South Korean trader @solyfw publicly accused crypto exchange LBank on X of freezing around $1 million of their funds, forcing their futures positions to be liquidated. The user said the issue stemmed from their account being restricted after making profits on high-leverage futures, and that the platform had yet to provide a specific explanation. LBank responded that it does not restrict accounts because users are profitable; the account in question is under review, and the platform has retained outside legal counsel to address “false statements.” @solyfw said that starting August 31, the user made significant profits trading major altcoins via high-leverage futures, including highly liquid, mainstream assets such as XRP, DOGE, XLM, NEAR, FIL, and SUI. On September 19, while making a routine withdrawal, the user’s account was suddenly blocked from withdrawing. The platform requested additional identity verification, which the user completed. On September 29, the platform further restricted the user’s futures trading and requested a more detailed explanation. On October 14, the platform finally replied that “the abnormal funds in question would not be released.” LBank officially responded that day: “We do not restrict accounts simply because someone is profitable. Trading and withdrawals are currently operating normally. We are communicating directly with the user about the account review and will share information to the extent possible while protecting their privacy.” The platform also said it had retained outside legal counsel to take action over “false and misleading statements,” and warned that it may…
Breaking: South Korean trader accuses LBank of freezing over $1 million in funds; platform denies restricting account “because of profits”
BlockBeats News, November 11: South Korean trader @solyfw publicly accused crypto exchange LBank on X of freezing around $1 million of their funds, forcing their futures positions to be liquidated. The user said the issue stemmed from their account being restricted after making profits on high-leverage futures, and that the platform had yet to provide a specific explanation. LBank responded that it does not restrict accounts because users are profitable; the account in question is under review, and the platform has retained outside legal counsel to address “false statements.” @solyfw said that starting August 31, the user made significant profits trading major altcoins via high-leverage futures, including highly liquid, mainstream assets such as XRP, DOGE, XLM, NEAR, FIL, and SUI. On September 19, while making a routine withdrawal, the user’s account was suddenly blocked from withdrawing. The platform requested additional identity verification, which the user completed. On September 29, the platform further restricted the user’s futures trading and requested a more detailed explanation. On October 14, the platform finally replied that “the abnormal funds in question would not be released.” LBank officially responded that day: “We do not restrict accounts simply because someone is profitable. Trading and withdrawals are currently operating normally. We are communicating directly with the user about the account review and will share information to the extent possible while protecting their privacy.” The platform also said it had retained outside legal counsel to take action over “false and misleading statements,” and warned that it may…