Binance
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Binance

Binance faces regulatory actions and lawsuits from the SEC, CFTC, FCA, and others, including a $1.8 billion suit from FTX. Customers have also filed complaints, including one over €65,000 frozen in Spain.

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Quick summary on Binance

Regulatory Issues:
The U.S. SEC charged Binance in 2023 for operating unregistered exchanges and failing to meet regulations.
In the U.K., the FCA warned Binance in 2021 for not having the proper authorization to operate.

Legal Challenges:
The CFTC sued Binance in 2023 for violations of U.S. trading laws.
Binance faced legal action in Australia in 2024 over consumer protection issues.
In France, investors filed a lawsuit after Binance misled them about TerraUSD, a stablecoin that collapsed.

Customer Complaints:
A customer in Spain filed a complaint in 2024 after Binance allegedly froze their €65,000.

Recent Lawsuits:
FTX sued Binance in 2024 for $1.8 billion, claiming Binance’s actions contributed to FTX’s collapse.

Intel Reports

Binance Legal Battles: Allegations, Risks, and Business Ties

Binance Legal Battles: Allegations, Risks, and...

Binance faces scrutiny over hidden business ties, scam reports, and legal troubles. Our investigation uncovers AML risks, lawsuits, and reputational...

  • April 12, 2025
Binance: Enabler of Ponzi Schemes and Regulatory Evasion

Binance: Enabler of Ponzi Schemes and...

Binance's history of regulatory clashes spans from the United States to the United Kingdom, with allegations of money laundering, tax...

  • April 9, 2025
Binomo vs. Binance: A Battle of Fraudulent Practices and Regulatory Failures

Binomo vs. Binance: A Battle of...

Binomo's lack of regulatory oversight and numerous complaints about withdrawal issues contrast sharply with Binance's complex fee structure and labyrinthine...

  • April 9, 2025

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use feedback and discussion on Binance

1.7/5

Based on 7 ratings

Trust
28%
Risk
46%
Brand
26%
by: Jessica White

After seeing Binance dragged into multiple lawsuits and regulatory trouble, I feel completely betrayed. I lost $2,900 on the platform, and now it’s impossible to even contact customer service to get any answers.

by: Jennifer Scott

Binance promised a secure platform, but I lost $4,500 due to their legal battles and freezing of funds. It’s been a frustrating experience, and now I’m left with nothing but regret.

by: Jason Thompson

Binance’s legal problems and frozen assets left me feeling completely helpless. I invested $6,200, but now I’m stuck with no access to my funds and no support. This has been an absolute nightmare.

by: Jasmine Cooper

I lost $5,000 with Binance after my account was frozen without warning. The ongoing legal issues and regulatory challenges make me question the integrity of their platform.

by: Adriana Schmidt

Binance is nothing but a ticking time bomb waiting to explode. Too many regulatory issues and customer complaints to trust them anymore.

Pros

  • Binance might be great at attracting attention—unfortunately, it’s mostly from regulators and disgruntled customers.

Cons

  • Binance faces numerous regulatory lawsuits and legal challenges, including actions from the SEC, CFTC, FCA, and others.
  • Customer complaints about frozen assets, such as the €65,000 case in Spain, paint a concerning picture of their customer service practices.
by: Weston Butler

The fact that Binance has been sued by FTX for $1.8 billion shows just how much damage they’ve caused. I wouldn’t trust my money with them.

by: Jordyn Rice

The SEC and CFTC lawsuits alone should be enough to make anyone reconsider using Binance. Too many risks involved with this platform.

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