What to do if your crypto wallet is blocked?

What to do if your crypto wallet is blocked?

Currently, online earnings are very popular, and virtual currencies are being used more and more often. But along with the popularity of cryptocurrencies, the number of cases of their blocking is also growing. The reasons can vary: from suspicion of fraud to technical violations. Therefore, it is important to understand why crypto wallets are blocked, what grounds are given by the service for such actions, and how to unblock funds. A lawyer will help you regain not only access to your cryptocurrency, but also the ability to continue using the platform safely.

Why crypto wallets are blocked – the main reasons

The blocking of crypto wallets is becoming increasingly common among users. Many people may encounter this and not understand what to do, because they do not even know the reasons for blocking crypto wallets:

• Suspicion of money laundering.
   
• Violation of service rules.
   
• Complaints from third parties or requests from law enforcement agencies for verification.
   
• Use of currency in illegal activities.
   
• Failure to comply with KYC/AML policies.

To avoid blocking, you should be careful with your crypto wallet and follow all the rules of the service, but if access to funds has already been lost, a lawyer specialising in crypto wallet blocking will help you restore it smoothly and quickly, as well as ensure that you can continue to use the exchange.

How does financial monitoring lead to blocking?

Financial monitoring and cryptocurrency are increasingly intersecting in the practices of banks, exchanges, and government agencies. If transactions from a crypto wallet appear suspicious, for example, they differ greatly from official income or there are links to sanctioned addresses, a financial monitoring procedure is automatically triggered. This can result in account blocking, asset freezing or a request to law enforcement agencies.

What should you do first when blocked? 

The first steps you take will determine how events unfold, so it is important to respond quickly and calmly:

1. Gather as much information as possible. Record all messages from the exchange, take a screenshot of the interface, and find out the reason for the block so that you understand how to proceed.
    
2. Do not try to bypass the block yourself. Some actions, such as creating a new account or withdrawing funds, raise even more suspicion and can worsen the situation.
    
3. Contact a lawyer. A specialist will analyse the details and reason for the block, prepare requests, communicate with the exchange and, if necessary, accompany you to the court.

The right strategy in the first few hours increases the chances of a successful outcome and restoring access to your crypto wallet. So don't waste time — contact a specialist who understands the nuances of cryptocurrency.

Together with a lawyer, we will prepare a well-argued complaint

A legal expert will help you prepare a well-argued complaint to the crypto exchange or bank, based on current legislation, the terms of use of the service, and the individual circumstances of the situation. Such a document demonstrates a clear legal position, contains compelling arguments, and a request to lift the block. Preparing a complaint with a lawyer increases the chances of a positive response.
 

If support does not respond, we go to court

If the appeal is ignored by support and does not produce results, the next step is legal protection. A legal specialist will help gather evidence, correctly formulate a claim and submit it to the appropriate authorities to resolve the issue. This approach forces the company to respond officially and quickly leads to the unblocking of the account even before the court hearing.

How a lawyer helps protect the rights of crypto asset owners

Analyses the legal situation and verifies the legality of the block, identifying violations on the part of the platform or state authorities. 

Prepares and submits official requests and complaints, represents the owner's interests in communication with services and regulatory authorities. 

Accompanies court proceedings to appeal unlawful decisions and protect the client's rights to regain access to crypto assets. 

Examples of working cases – how did clients regain access?

Our lawyers have a successful track record of regaining access to accounts even in the most difficult cases. Thanks to a comprehensive approach, an effective and correct strategy, and knowledge in the field of digital assets, clients quickly had their accounts unblocked, restrictions lifted, and control over their assets restored. No matter what stage the client is at, our specialists can provide qualified assistance in the event of suspicion and protect the rights of the individual at the court hearing. Legal support in such cases is always effective, so don't face the problem alone — contact our specialists to restore justice.