In Pakistan, many individuals involved in P2P (peer-to-peer) cryptocurrency trading are finding their bank accounts frozen or permanently blocked. Here's why:
1. Suspicious Activity Alerts
Banks track unusual or high-volume transactions. Receiving multiple payments from strangers or frequent crypto-related transactions may trigger alerts. This flags your account for possible money laundering.
2. Violation of Banking Policies
Most personal bank accounts are not intended for commercial or crypto-related activity. If you’re acting like a middleman in P2P trades using your personal account, banks can block your access.
3. Fraudulent Transfers
Some P2P traders may unknowingly receive money from stolen or hacked accounts. When reported, banks often reverse those transfers and freeze both parties’ accounts during investigation.
4. Regulatory Pressure from Authorities
Pakistan’s State Bank has repeatedly warned against crypto trading. Banks may proactively block accounts to avoid penalties or investigations.
5. Use of Trigger Words
Using keywords like "Bitcoin," "USDT," or "Binance" in transfer remarks often draws attention and increases the risk of account suspension.
How to Avoid Account Blocks
Use business accounts for regular trading.
Don’t accept payments from multiple strangers daily.
Avoid using crypto-related words in bank references.
Use secure and verified P2P platforms like Binance P2P.
Stay safe. Stay compliant.
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