Indian Crypto User's SBI Account Frozen After $1,000 USDT Sale on Binance

An Indian cryptocurrency user, @Krishna16021, reported that his State Bank of India (SBI) account was placed under lien after he sold $1,000 worth of Tether (USDT) to a buyer on Binance's peer-to-peer (P2P) marketplace.

The user stated that the holds across his account and a friend's account now total nearly ₹4.5 lakh, and described the buyer as linked to a scam.

The user said he reached out to CyberDost, the cyber safety awareness channel of the Ministry of Home Affairs (MHA), and to the National Cyber Crime Reporting Portal, but did not receive a clear explanation.

Binance has previously acknowledged that P2P sellers have faced frozen accounts after trading with buyers whose payments were later tied to scams.