- Notably, all the targeted countries have been facing economic issues or civil wars.
- Users have received messages from the exchange operator asking them to take out their Bitcoin holdings by deleting their accounts.
According to a report by Forbes, users of crypto exchange LocalBitcoins from certain countries have noted that their accounts have been “deactivated.” LocalBitcoins users in regions like Syria, Nigeria and Iraq and Afghanistan have received messages from the exchange operator asking them to take out their Bitcoin holdings by deleting their account. Notably, all the targeted countries have been facing economic issues or civil wars.
One Nigerian user who manages a three-year-old account told Forbes:
One of my customers was due to travel out of the country and had to sell some of his bitcoin to be able to go only to notice on his way to the airport that he cannot even access his funds.
This anonymous source said that his customer’s account had been suspended recently with no prior warning or notification that it might be reactivated. According to the messages received by the exchange users, LocalBitcoins requires users in specific countries to pass through an “enhanced due diligence process.” The exchange has disclosed no further details.
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