The largest US crypto exchange Coinbase has expanded the list for sending notifications about possible blocking of accounts to users subject to EU and US sanctions.
In early May, the site has already sent out notifications to users whom it suspects that they may be under sanctions from the European Union and the United States, about the possible blocking of accounts.
Coinbase warned that user accounts could be blocked from May 31, 2022 if, by that time, notified customers cannot officially confirm that they are not subject to sanctions from the European Union and the US Financial Crimes Enforcement Agency (FinCEN). Otherwise, Coinbase suggested to customers that all funds must be withdrawn to third-party accounts before the specified deadline. Failure to comply with Coinbase’s requirements will result in an account suspension and funds freeze indefinitely.
Initially, Coinbase notifications were sent to users with an exchange account balance of more than $10,000. However, recently the exchange expanded coverage, and the distribution of blocking warnings has become more widespread. Even the owners of “sleeping accounts” became recipients.
For example, a Twitter user @zd_vladislav informedwho received a notification about the possible blocking of an account registered on Coinbase, although he never used the services of the exchange.
The other day it became known that South Korean cryptocurrency exchanges received letters from the Seoul police with a request to block the movement of funds on Luna Foundation Guard accounts in connection with theft.