I hate Binance as much as the next guy, but that post about $100k being held is sketchy af

The OP of that post left out a bunch of stuff, and the more you read it it becomes obvious there is something else going on there. The OP also did not post any evidence at all

1. Grandfather sends huge amount funds from a business bank account to a personal Binance US trading account despite Binance US making it clear they dont accept any third party transfers.

2. Grandfather did not test a small transfer, but sent such a large sum right away to a newly opened account?

3. Grandfather supposedly sold the business but is still using the bank account of the business he sold?!

4. The posters went 8 months without contacting a lawyer for such a large amount? Wire transfer issues = top hits on google include get a lawyer.

5. Grandfather is supposedly scared of online banking, but is comfortable using protonmail.. Protonmail itself raises flags and combined with operating a bank account of a business he supposedly sold is not a good look. Privacy is great but using such emails for a fiat exchange (which is almost like a bank) is just asking for trouble.

Decentralised finance is great, but when dealing with crypto fiat exchanges, they are more or less similar to banks and have to abide by all the AML laws and regulations, some of which even require the exchange to inform Law Enforcement Agencies when any AML red flags are triggered. And if LE is involved, and if there are investigations underway and/or unsealed indictments with any of the parties involved, the exchanges cant communicate with the OP about what is going on and can even be asked to shut down the account without any warning or further information.

There are numerous incidents where banks have closed users accounts without any warning or reason. Sometimes the banks are even accused of closing customer accounts with funds stuck in them and there is no apparent way for the customer to get the funds back. Its not the case that these banks are stealing customer funds. A large bank like Bank of America has no reason to steal funds. But all financial institutions have to comply with federal and international money transmitter laws which include lots of AML checks and if there are flags, freezes on funds and locks on accounts. Binance, Coinbase etc all have to follow the same laws too.

PS: Before the accusations start pouring in, Im not a binance employee, I have called them out numerous times. 1, 2, 3 for the less than ethical stuff going on there…