Pekić Law office, together with colleagues from Hong Kong, is representing two clients before the Hong Kong International Arbitration Center (HKIAC), whose crypto withdrawal function has been suspended on their Binance accounts.
Binance suspended my crypto accounts - what to do?
If you want to file a claim due to some Binance’s default, HKIAC is who you should address it to. It gets even more interesting – any arbitration against Binance must be commenced within one year after the date that the user first found out about the alleged act or default. Therefore, if you do not start a procedure within one year, there is nothing you can do later on.
Our clients immediately contacted Binance’s Customer Service Representatives upon discovery of the frozen crypto accounts, to ask for the reasons why the accounts are suspended. Despite numerous attempts (over 20 times in 8 months), Binance did not give any substantive reason for the suspension of the accounts. Binance only repeated that the accounts were under review. Luckily, the clients have contacted Pekić Law office on time, and we managed to file a Notice of Arbitration within this period of one year.