3 ms·

I'm going to guess that the transaction in question was indeed fraudulent and the student is not as innocent as he claims to be.

• alphydan 11y ago
  In the specific example I know about, the transaction was simple: Student sells 1 bitcoin on localbitcoins. User (only known by his localbitcoins handle) transfers money to student account. Student transfers 1 bitcoin to user. Bank freezes the student's account. They claimed the transfer was fraudulent but zero explanations were given. However they asked the student to tell the user to show up at a bank branch to vouch for the transaction's legitimacy. Obviously the user never responded to the request. - Had the user been selling drugs? - Was the user's account empty? Did he pay with credit and never payed back? - Was he a known criminal to the Bank? It's like selling a bicycle on ebay. If it turns out the person who paid for the bike was a criminal, how is the seller supposed to know? Wouldn't the bank be at fault for accepting the transfer if they know it comes from a fraudulent account? I don't know about this specific example (Telegraph article), but I know of another example where the account was frozen and closed with zero explanations.