Binance co-founder He Yi warns: suspicious Myanmar Cambodia USDT transactions may trigger fund freezes

Techub News News: Binance co-founder He Yi posted a warning on the X platform to Chinese-speaking users, urging them to avoid transferring funds involving suspicious transactions in Myanmar and Cambodia and informal USDT transactions, as suspicious deposits may trigger law enforcement freezes. The specific situations she listed include discounted USDTpurchased from friends, tokens received through relatives, business proceeds from Myanmar, payments collected in Cambodia, and funds temporarily handled through accounts for others. He Yi stated that Binance's compliance system can flag high-risk addresses before deposits reach the platform. Under existing procedures, users who receive funds for relatives and friends may face additional source-of-funds checks. Law enforcement freezes may involve lengthy investigations, and Binance cannot independently unfreeze restricted assets. Binance's existing compliance procedures require customers to provide deposit source information when a transaction triggers further review. Customers may face temporary account restrictions, some of which can be resolved by submitting the required documents, but cases involving law enforcement orders follow a separate procedure. (Crypto.news)