UK's TSB Bank to Ban Crypto Purchases Amid E-Wallet Scam Concerns

UK's TSB Bank to Ban Crypto Purchases Amid E-Wallet Scam Concerns
UK bank TSB will ban more than 5 million of its customers from buying cryptocurrencies due to concerns about “excessively high” fraud rates on the trading platform, The Times reports.
  • The TSB reportedly plans to block 5.4 million customers from sending money to exchanges such as Binance and Kraken, fearing that due to insufficient security checks, scammers will be able to create e-wallets and steal people’s money.

  • Binance is reportedly of particular concern to the TSB, as approximately two-thirds of all fraud involving cryptocurrencies is linked to the Binance platform. According to the New York Times, 849 TSB depositors reported losing funds from their Binance accounts over a 30-day period.

  • The report also states that the bank claims Binance “almost never” responds to customer fraud allegations, an allegation both Binance and Kraken deny.

  • TSB is the latest UK bank to take action against cybercrime.

  • A Binance spokesperson told The New York Times that they take their responsibility to protect users from fraud “very seriously.”

<<:  The daily line of the big cake is closed, switching to a volatile market

>>:  "Policy dividends" release industrial blockchain breakthrough

Recommend

Is it a good fate for a woman to have many lines on her hands?

There are many different kinds of lines on our pa...

Is it good for a woman to have a narrow forehead? What does a woman look like to be blessed?

In the culture of physiognomy, a full, smooth and ...

People who work overtime until late at night

I believe that many people would be averse to wor...

How can Zaineng break out of the BTC mining platform?

Before we begin the article, let’s first populari...

What does a mole on a woman's left hand mean?

Everyone has moles, but the locations of moles ar...

Mole of misery: how is the relationship status of those with mole of misery

It is believed that people with the mole of miser...

Is it good for women to have a Sichuan-shaped pattern on their forehead? What is their fate?

Is it good for a woman to have a "川" pa...

Facial features of liars and perverts

Facial features of liars and perverts Being unmar...

Three potential factors behind the rapid rise of Bitcoin? The story of "capable of rising" is deeply rooted in people's hearts

Bitcoin, the darling of new-age investors and a s...

85% of Bitcoin has been mined, and it will take another 100 years to mine all of it

On Wednesday, cryptocurrency enthusiasts took to ...

What does a mole on the upper left corner of a man's mouth mean? Is it good to have a mole on the corner of the mouth?

What does a mole on the upper left corner of a ma...

Industry Weekly Report | DeFi financing hits a new high, Kazakhstan invests $700 million in mining, Tesla employees report Russian hackers

OKEx Intelligence Bureau's weekly industry re...

What are the effects of cleft lip on the face?

Although cleft lip sounds cute, in reality, this ...

Is marriage good for women with Sichuan-shaped palms?

Some people have a "川"-shaped palm or a...

What is so evil about an evil person? Analysis of the Evil Man's Face

What is so evil about an evil person? Analysis of...