Please Note:
- If your loss was due to clickbait or fraud, we cannot help.
- We also cannot recover funds lost on exchanges outside of the US.
- If an exchange is telling you that you need to make a tax payment and then they will release your funds, you are likely the victim of an unrecoverable fraud, and you should not make any tax payments or additional transfers to the thieves.
As a former financial regulator, I know first-hand there are good and bad actors. If you have invested money and one of the major exchanges has locked you out, don’t wait to contact a lawyer. There are many platforms including Binance, Coinbase, FTX, KuCoin, Kraken and others.
These exchange platforms have seen incredible growth in the last few years and many people are using them as new opportunities to make quick trades. With the increased demand for these platforms, the exchanges are light on customer service and consumers are running into roadblocks when their accounts are frozen or being hacked.
Can Consumers Bring a Claim Against an Exchange?
Generally, yes. The first thing to look at is whether there is an arbitration requirement in the exchange’s terms of use. Another thing a lawyer will need to analyze is the proper forum for suit, which includes looking at where the exchange are incorporated, where it has a physical presence, analyzing the user agreement, and other factors.
Time is critical for these cases. Anyone who has bought a coin or token knows how quickly prices can move. If an exchange locks you out your value could be cut in half if you intended to trade at a certain point.
If you have had your account frozen, had your account hacked, or experienced other problems with an exchange give us a call today. It is very important to document everything and screenshot your communications with customer support and any unauthorized transactions.
