{"id":66374,"date":"2022-08-27T13:21:06","date_gmt":"2022-08-27T10:21:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66374"},"modified":"2025-09-07T00:58:43","modified_gmt":"2025-09-06T21:58:43","slug":"binance-blocked-baking-bads-tezos-ecosystem-startup-account","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-blocked-baking-bads-tezos-ecosystem-startup-account\/","title":{"rendered":"Binance blocked Baking Bad&#8217;s Tezos ecosystem startup account"},"content":{"rendered":"<p>The cryptocurrency exchange Binance blocked the corporate account of the Tezos ecosystem\u2013oriented startup Baking Bad. The latter called the platform&#8217;s actions unlawful.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Our corporate <a href=\\\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\\\">@binance<\/a> account is blocked since July 1 without any explanations. Today all our balances were set to zero (more than $1M). We have all the materials to begin the investigation and inform the community, but for now just stay away from Binance and <a href=\\\"https:\/\/twitter.com\/cz_binance?ref_src=twsrc%5Etfw\\\">@cz_binance<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/SAFU?src=hash&#038;ref_src=twsrc%5Etfw\\\">#SAFU<\/a> <a href=\\\"https:\/\/t.co\/PpZSBhYpZS\\\">pic.twitter.com\/PpZSBhYpZS<\/a><\/p>\n<p>\u2014 Baking Bad (@TezosBakingBad) <a href=\\\"https:\/\/twitter.com\/TezosBakingBad\/status\/1562822297408249856?ref_src=twsrc%5Etfw\\\">August 25, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;On July 1, without any explanations, our corporate account on Binance was blocked. Today all our balances have been reset to zero (over $1 million). We have all the materials to begin the investigation and inform the community,\\&#8221; the statement says.<\/p>\n<\/blockquote>\n<p>The cryptocurrency exchange rejected these accusations. The company stated that Baking Bad&#8217;s account was blocked at the request of law enforcement authorities, of which the startup was \\&#8221;well aware\\&#8221;.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The account in question was restricted as the result of a law enforcement request, which <a href=\\\"https:\/\/twitter.com\/TezosBakingBad?ref_src=twsrc%5Etfw\\\">@TezosBakingBad<\/a> is well aware of, as he was already advised of this multiple times and provided the LE contact form through our support chat system on 7\/6, 7\/12, and 7\/22.<\/p>\n<p>\u2014 Binance (@binance) <a href=\\\"https:\/\/twitter.com\/binance\/status\/1562890554668511233?ref_src=twsrc%5Etfw\\\">August 25, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Binance added that there is a procedure to dispute such blockings on the platform \u2014 to do so, a request must be submitted through a dedicated form. The startup insists that it has already contacted support but has not received a response.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;As we&#8217;ve said before, Binance is obliged to respond to such requests, like any other exchange. There is a procedure to challenge an agency&#8217;s seizure if you want to go down that path. But this is done through the agency; the company has no control over this process,\\&#8221; the exchange&#8217;s response says.<\/p>\n<\/blockquote>\n<p>It is unclear which law enforcement agency is being referred to. According to Baking Bad&#8217;s page on <a href=\\\"https:\/\/www.linkedin.com\/company\/tezos-baking-bad\/\\\">LinkedIn<\/a>, the startup is registered in Estonia. Earlier the country&#8217;s authorities <a href=\\\"https:\/\/www.politico.eu\/article\/crypto-finance-estonia-dirty-money\/\\\">stated<\/a> their intention to tighten the fight against money laundering. <\/p>\n<p>In July 2022, the Council of the European Union and the European Parliament <a href=\"https:\/\/forklog.com\/en\/news\/europe-reaches-agreement-on-sweeping-crypto-regulation\">tentatively agreed<\/a> on the provisions of the cryptocurrency regulation bill, the Markets in Crypto Assets <span data-descr=\\\"Markets in Crypto Assets\\\" class=\\\"old_tooltip\\\">MiCA<\/span>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance blocked the corporate account of the Tezos ecosystem\u2013oriented startup Baking Bad. The latter called the platform&#8217;s actions unlawful.<\/p>\n","protected":false},"author":1,"featured_media":66375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1722],"class_list":["post-66374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-tezos-xtz"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=66374"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66374\/revisions"}],"predecessor-version":[{"id":66376,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/66374\/revisions\/66376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/66375"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=66374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=66374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=66374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}