Binance co-founder Yi He warned users not to send funds with questionable origins to the exchange. She said such deposits could lead to law enforcement freezes, and the exchange may lack authority to release the assets.
Binance co-founder Yi He warned Chinese-speaking users against transferring funds linked to questionable deals in Myanmar, Cambodia and informal USDT transactions. Suspicious deposits, she said, could result in law enforcement freezes.
Which deposits Yi He flagged
In a post on X, Yi He listed several situations in which customers should avoid sending cryptocurrency to Binance. Her examples included discounted USDT bought from friends, tokens received through relatives, business proceeds from Myanmar, payments collected in Cambodia and funds temporarily moved through accounts on behalf of other people.
The concern is where the money came from and how it connects to other wallets. Yi He said Binance's compliance systems can identify risky addresses before deposits reach the exchange. She said "Binance has strict global compliance standards," adding that associated addresses may already carry risk flags.
Freezes can involve lengthy investigations
Yi He warned that law enforcement could freeze funds tied to suspicious activity. Such cases can involve lengthy investigations, and the exchange may lack the authority to release assets under official restrictions.
Binance's existing procedures already ask customers to explain the origin of deposits when transactions trigger further review. Its source-of-funds guidance separates a customer's accumulated wealth from the origin of a particular deposit.
What the post did not say
The warning did not describe all business involving those countries as illegal. Yi He urged users to avoid sending funds from the listed circumstances when their origins or transaction histories raise concerns, according to crypto.news.
The post also did not name customer accounts, announce a new regional deposit ban or say how many users have faced freezes. Myanmar and Cambodia have featured in international investigations into money laundering networks and crypto fraud, though those cases do not establish that the transactions she described were tied to any identified criminal organization.
Sources: crypto.news
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