Marked As Scam
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.
Trust Score
0
Red Flags
3
COMMENTS
7
Beware of Reputation Agencies
claiming to suppress or remove content from this website
READ OUR WARNING
CRITICAL INTEL 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.
Summary generated by data analyzed and provided by ChatGPT 4o, Grok and DeepSeek
3 RED FLAGS ON Binance
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
Cons
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.