Famous P2P Exchange LocalBitcoins Seize Some Users Accounts Belong To Specific Countries Without Notice
The World Famous peer to peer (p2p) bitcoin exchange LocalBitcoins seized the accounts of many users who belong to some specific countries of Asia, Africa, and the Middle East without giving them any official notice or warning reported on 25 January 2020.
As per the report, firstly the localbitcoins users from countries like Afghanistan, Iraq, Nigeria, Syria, and Pakistan started claiming the problem of unable to access the withdrawals in their localbitcoins exchange account.
Even after there was no response came from the LocalBitcoins exchange team for some days, but on 28 January they tweeted “The scheduled maintenance is currently over and the website is functioning normally again. Happy trading! “
Some users reported that they applied for account disclosure so they can get their bitcoins back from the LocalBitcoins after the next 14 days.
The affected users reported on Reddit that they got the following message after suspension of their LocalBitcoins account:
“Customers residing or otherwise located in the following countries are required to have an enhanced due diligence process. The countries are defined by EU commission: Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People’s Republic of Korea, Ethiopia, Ghana, Guam, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, US Virgin Islands, Yemen.”
There are some users who also reported that they are unable to access their account and their account is banned by the LocalBitcoins without any reason.
