The seizure of multiple bank accounts tied to Binance P2P caused a loud tremor in the community as everyone was waiting for India to reveal its crypto regulatory framework.
Following the seizure of her bank account and her subsequent communication with the Cyber Crime, a community member posted a tweet thread to inform others of the events.
Through the Binance P2P platform, the victim had started a transaction for 560 USDT. The cryptocurrency transfers were made to a shady or dubious merchant, according to the sources that are accessible.
It’s noteworthy that the alarmed crypto community established a Telegram channel and invited all the impacted people to join. They also hope to increase awareness and publicize the current predicament.
CEO of CoinDCX Sumit Gupta stated in a tweet: “P2P is extremely risky. I’ve been telling folks to avoid using any kind of P2P platforms, it’s an open invitation to trouble.”
Additionally, India’s anti-crypto stance and the current state of cryptocurrency taxes increase pressure and annoy investors and traders. The Indian cryptocurrency community nonetheless aspires to see a countrywide environment free of restrictions for cryptocurrencies.
The same problems have been experienced by a large number of Indian users, who have had their accounts frozen, lost all of their life savings, and are now fighting to recover their funds.