crypto

Binance halts Singapore user’s withdrawal

In a move that surprised many in the cryptocurrency space, crypto-exchange Binance has frozen account funds of one of its traders after he attempted to withdraw tokens into a privacy wallet.


A Twitter user under the name of @Catxolotl posted about Binance Singapore staff investigating the withdrawal of an undisclosed amount of Bitcoin, after the transactor made use of CoinJoin. CoinJoin, part of the privacy-focused wallet Wasabi, is a method whichallows multiple Bitcoin payments to combine into a single transaction. This service ensures outside parties would not be able to determine the details of the financial transaction to maintain the anonymity of senders and receivers.

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