The leading crypto exchange Binance banned the account of the Tezos tool contributor, as a part of a law enforcement request.
Binance is a leading crypto exchange and is also known to provide highly secured crypto offerings globally. The exchange has a very big team of crypto & blockchain talents, which help the exchange to push the adoption of crypto & blockchain technology in all possible areas. In the past, Binance many times helped the government agencies to catch the bad actors linked with crypto transactions.
On 26 August, The official Twitter account of the Binance crypto exchange reported through a Twitter thread that the exchange banned the account of Tezos staking rewards auditor Baking Bad.
The exchange also confirmed that Baking Bad was already warned many times by the Binance team, so Baking Bad was already aware of this thing.
Through the same Twitter thread, Binance confirmed that Exchange will not take decisions back because the exchange is required to work with full cooperation with law enforcement agencies.
“Binance is required to cooperate with such requests, the same as any other exchange. Attempting to mislead the community in regards to your case will not change anything, unfortunately.”
On the seized crypto assets, Binance claimed that it has zero control and all is in the hand of an enforcement agency.
Opposite to this action, on 25 August,Tezos contributor said that Binance exchange banned the corporate account without any reason.
Now it will be interesting to see what will happen, whether Baking Bad will go through another legal action to access the account or something different because the account holds more than $1 million worth of crypto assets.