Procedure to Unblock a Frozen Account Safely

Caution when withdrawing: an account freeze is just the beginning

In the current context of the bull market, many investors see their assets multiplying and consider withdrawing some of their funds. However, they often overlook the potential risks associated with these withdrawals. A simple freeze of a bank compte or an electronic wallet can quickly turn into a more serious problem, even into a thorough investigation.

Account freeze: a decision that escapes the banks

As part of the current control operations, the power to freeze an account is no longer solely in the hands of financial institutions. Competent authorities can intervene directly if suspicious transactions are detected, without going through the approval of the bank or the payment platform.

Duration of the freeze and investigation procedures

An initial freeze for risk control generally lasts 72 hours. If the account is not unlocked after this period, it may indicate a judicial freeze requiring further investigation. In this case, authorities will examine financial flows in detail to verify their legality.

The Importance of Cooperation and Documentation

In the event of an account freeze, it is crucial to fully cooperate with investigators while retaining all evidence of your transactions, including statements and proofs of funds. This documentation can help you effectively demonstrate the legality of your financial activities to the authorities.

Risks Associated with Alternative Payment Platforms

Popular e-wallets are not immune to control measures. Their risk detection systems can also lead to the freezing of an account in the event of transactions deemed abnormal.

Increased vigilance during large withdrawals

In the current regulatory context, particular caution is required when withdrawing large amounts of funds. It is recommended to conduct thorough checks, including requesting proof of the source of funds from your counterparts.

Variations in the Approach of Local Authorities

The understanding of digital assets varies significantly across jurisdictions, with some authorities less familiar with these technologies often adopting a stricter approach. In the event of an investigation, it is generally preferable to consult a specialized lawyer rather than attempting to explain complex technical concepts to the authorities yourself.

Strengthened control in the long term

Current financial surveillance measures are part of a long-term perspective. Investors should expect that account controls and risks of account freezing will persist, even for accounts that have been little used recently.

The Importance of Identity Verification Procedures

To limit risks, exchange platforms() must strengthen their identity verification procedures (KYC) to prevent the use of false identities and the entry of funds from dubious origins into the market.

Caution with Unconventional Transactions

Even if you are trading assets that you consider legitimate, remain vigilant about the source of your counterparties' funds. Favor transactions on regulated platforms and ensure you fully understand the origin of each transaction to minimize your long-term legal risks.