SBI Freezes ₹4.5 Lakh After Indian Crypto User's Binance P2P Sale

An Indian cryptocurrency user has been left with a massive headache after his State Bank of India (SBI) account was placed under lien for nearly ₹4.5 lakh. The issue arose after he sold $1,000 worth of Tether (USDT) to a buyer on Binance's peer-to-peer (P2P) marketplace.

The user, who goes by the handle @Krishna16021, reported that the buyer was linked to a scam. He claimed that the credit he received from the sale was later marked under lien, and that the same P2P amount was flagged multiple times against the same Unique Transaction Reference (UTR).

The user reached out to CyberDost, the cyber safety awareness channel of the Ministry of Home Affairs (MHA), and the National Cyber Crime Reporting Portal, but did not receive a clear explanation. He added that he holds records of the Binance P2P order and the source of the USDT he sold.