Topic: Bank Account Freezed (Read 903 times)

I must say that this`s still relevant, in two years the problem for companies (and for entrepreneurs engaged in cryptocurrencies) on opening bank accounts still exists.

Thanks for the information.

Currently in my country there are many cases of customers who lose money in the bank, even the nominal loss is very large, some have lost up to 22 billion, a very large number considering the BANK is the safest reference for saving money. However, there is an advantage that customers often have problems with money that is lost when deposited in the bank, which provides an opportunity for bitcoin to become a very safe storage area, only we ourselves manage it without any other party knowing the contents of the balance that we store in the wallet. But you have know what is risk when investing or saving your money in the cryptocurrency because you will know with bitcoin as fluactive value, some time going up and down.

So how are you exchanging to fiat. It is a really old thread and he did not update about the situation after that, i do not think that he will be under any problem if he has not done anything wrong and all you need to do is to approach the bank and sort out the issue and be transparent as you can and have a response to every question they ask about the funds you are getting in your account.

That's why I also hesitate to use bank to keep my funds from crypto because they will surely freeze your account with out any reason and their reason is cyber crime or because of anti money laundering law. Why not go to your bank and ask why your account got frozen so that you will know what is the reason for this.

For the bank to freeze you account show that, there is something the customer care are not too clear with in your last transaction that is making them to suspect you account as those fraudster user. I don't think you have any problem about that, if you known your hands are clean with the wrong transaction the bank saw before freeze you account.
I know India bank system very well, if it come to wrong transaction that they are not to clear with, the next thing is to freeze the account expecting the owner to come and explain  how come about the transaction. Once the bank discover that the transaction is a genuine one, the account will be release in 24 minutes for the owner to have access to his money.

Considering the continuation of his starting post, it doesn't seem resolved. Or it has been resolved and he does not find it relevant to post anymore. If you find yourself in such a situation, I would always hire a lawyer.
You will also have to come to the bank for an interview, and then you will have to sign a statement stating your story. Of course you know whether you have done something criminal or not, but in any case you should get a lawyer. This does not always have to be because you are guilty, but he can also point out your rights and he also knows which rights banks have.
Banks naturally like to bluff to clean up their own house and to blame the customer.
From time to time, really high fines are handed out at the bank. That is not without reason.

does your country ban crypto? If indeed your country prohibits crypto, it is natural if your account is frozen because you are transacting on crypto exchanges. because it could be illegal according to the government in your country. so the solution comes to the bank and asks for an explanation regarding the problem

I never experience it but I also heard a lot of issue as you've faced here in my country.
There are so many people that got their bank account freeze because of a crypto transaction and I also heard that some of them are only using crypto on trading sites.

Looks like OP hasn't logged in since the day this was posted.

I'm guessing a bit here based on the vague details, but it sounds like he sold crypto on a peer-to-peer platform and allowed buyers to pay him using bank transfers. The risk with this is that the buyer may have transacted with a hacked bank account. By the time the bank realized or was notified of what was going on and froze OP's bank assets, the criminal was long gone with OP's crypto coins. Now the bank will confirm the theft and attempt to refund the defrauded bank account customers. OP's funds will remain frozen until that is resolved. It could take months. Meanwhile, OP may also lose access to the banking transfer services he was using to do these transactions, not to mention his money and his coins.

Things to do to resolve the problem:

1. Contact the P2P platform and make them aware of the issue. At least, the P2P may ban the hacker, but that is of little help to the OP.

2. Contact the bank's fraud department and give them an honest of full report on the transactions. Explain to them what you were doing with details, not some vague explanation as was posted here. You will need to do this in writing and send it to the bank's fraud department agent working on your case.

3. Explain that you were defrauded. Explain that you did not know you were dealing with a dishonest customer.

4. Request that your banking privileges be restored.

5. The fraud department at your bank may request that you personally prove that the transactions were not fraudulent. That will be impossible given the anonymity of the transactions and the fact that the P2P platform will probably not cooperate with the investigation. Furthermore, you will have a hard time finding any police agency willing to help you.

6. After you've done all that, just wait. After some time has passed, your bank funds - what's left of them - will be released. You will have to call the bank fraud department from time-to-time to get status on the situation. Eventually, they will release the balance of your funds after defrauded account holders have been refunded.

7. Don't do this anymore. Find a legit service that can exchange your coins for money if that's what you need. P2P bank transfers isn't it.

At least you know, bank are just also following orders from authorities and since they received order from the cyber crime about your specific account, then they will implement it as they are in control of your money.


I think every country does not have a uniform law, the only thing I can advise to you is just to follow the advise of the bank, that you give you a clear insights regarding your problem, you don't have to fear if you are not guilty of anything illegal.

I am strongly agree to you buddy. If you'll gonna ask me? I don't trust banks co'z I dont want to be compromised because I had an experience regarding on account freeze and it takes to long before they fix your concern and that's annoying. Everytime I am withdrawing my coins here, I'm keeping it inside my pocket instead of putting it inside the banks or exchangers because I don't trust any of these.

I will not insult the bank, because I also use current banking services for work purposes. What I do if you are in your position is, come to the relevant bank office, then ask customer service about the problem that has occurred.
If there is an error that can be forgiven, surely the bank will unblock your account,
but an unforgivable serious suspicious offense, such as being detected to be a fraudulent account, then say goodbye to the bank.

And if you feel that you have been wronged by a large amount of money, then the legal route is the last way to get justice

No crypto account can be frozen because crypto is decentralized.

However if you keep your crypto funds in centralized location and then it gets frozen, then this is only your mistake for trusting a centralized wallet for a decentralized currency.

If there is still no one contacted you despite of the present issue in relation to the freezing of your bank account, better do make your own move of going into your bank personally to ask for the problem on why they have done such thing without providing a notice sent to your given contact details because normally they will notify you about the issue your bank account is facing through and will ask to see you at their office to submit a report to clear things out and once you failed to do such it is their move to do what is in the rules written under the terms and conditions applied on creating your account on which maybe you have got a problem.

If they fail to provide you reasonable explanation of why they did that, then get yourself into a legal consent from an attorney to raise up an appeal so that you can do something about the problem. If it is about doing transactions on cryptocurrencies and you are from India, then you do really have to seek legal consultation for I know India have already allowed cryptocurrency in their country aside from using it to purchase goods and services. Maybe there is just a misunderstanding on the part of the bank which you must know about and that must be put under negotiation to solve the problem.

I used to do a fair amount of Bitcoin arbitrage years back for profit. I had to quit eventually and a big reason what what you faced. It's too easy for man in the middle attacks to do fraudulent schemes. Even if you yourself avoid the fraud, the bank will still have to deal with problems associated with your account and freeze your account and close you down for life because it's simply not worth it to them. Overall, not worth it unless if banks become much more robust which I honestly never see happening in my life time.

If you didn't partake in any fraudulent activity using cryptocurrency, you should contact the nearest cyber crime authority around you because your bank can not unblock without their directives, few of my friends has had similar case but everything got clear out since they didn't participate in any fraudulent  activities and if things want to get messier, you should seek the counsel of a professional finanacial lawyer.

Well in this case probably you can't trust the banks but in reality they even make our life comfortable for.not bringing cash going to malls. Just a credit card or atm will do. Thiefs can no longer be benefited in this scheme or the system. And we cant trust crypto either to our money. However, the problem.of this guy here is all.about bank accunt freeze. Probably there are other reason why he got his bank account frozen and not really all about the bitcoin trading. He did not mention that he went on the bank for clarification of his bank account.

To be able for you to stop thinking about what really is the matter for the freezing of your bank account, better do seek the attention of your own bank and ask them directly of the issue you have right now. Coordinating with the bank will gradually help you to figure out if you have done something wrong that will be against the terms and conditions applied when you are opening your bank account. From that point, you can already figure out what is the problem and ask for the possible solution to resolve the problem which is to unfreeze your bank account.

If the issue root down on doing transaction with regards to cryptocurrencies and you currently reside within India, as far as I know India have first allowed then banned and allowed again the usage of cryptocurrencies but prohibit it as being use for payment option. If that is the case, better do seek legal attention on how you can resolve the problem if the issue is with that matter. After all, maybe they are just waiting for you to show up to appeal on your issue. But I think if there is really an issue, banks will send you a notice to know the problem and how you can be able to fix it out.

That is strange. Though India's stance on crypto is very screwed up, to begin with. How much trading were you doing? When you say frozen do you mean you cannot use it at all? Can you log in? What does the login screen say? Contact customer support or better yet go into the bank. I would change banks right away. This is why I do not like government and banking. You don't even own your own money and they can freeze it as they please for any reason they feel. Not cool. This is why I am so interested to see how much and what kind of trading you have done. More details please?

I absolutely agree with you - there are a huge number of reasons why this could happen to your account. People here don't even know your credit history, and this is the most basic information for dealing with such issues. I think that no matter how much everyone would like to help you - I don't think it will work within this topic.

They must have found something suspicious about your account or you made a transaction that violated terms or one of the traders that sent you cash have some kind of suspicious transaction which was linked to your account. You should ask them what the reason is and if there is a possible solution.

No one here can give you solution.

This is not the right place to be asking this question. If you bank has frozen your account, the only way you can solve the problem is to go to the bank and meet them face to face and discuss the procedures to get your bank account unfrozen. If you keep asking that question here I don’t think anyone here will be able to provide you with any reasonable information that will help you in solving that problem, and moreover we are likely from different countries. So, go to the bank and get the problem solved and try to be careful next time so that you don’t end up having the same problem.

Is it? How they the bank officials or other authorities will come to know that I am doing P2P for crypto purposes or getting paid or paying someone for some reasons? (For example, I do pay some freelancers and also I do get paid for freelance activities). If P2P gets illegal in my country, I guess I might need to immigrate into some other country for my living.

Cyber Crime or the Anti money laundering council?

I guess only the AMLC can give an order to block an account, either you are under investigation for a crime done online and offline.

If you are not guilty, you should not worry, your account was only freeze, it does not mean they will take your money, once the investigation is over and you are proven innocent, your bank account will be unfreeze.



Best way to do is to talk with your bank representative so you will get a clear explanation, it's only them who can give a detailed explanation.

P2P is not illegal, but you might have transacted with someone who are under the monitoring for anti money laundering.

Since you are living in India, it will be better if you post this question in the Indian local board. People from India will better able to guide you on how to contact the cyber crime in your country.

I do not think this has anything to do with bitcoin discussion section ? The bank must have told you why they freeze your account. Even if they do not tell you, you can visit the bank and contact them on the phone for explanation. Thats the only benefit for the centralized system that you can reach out to the authorities easily.

For now it is completely legal to trade and hold cryptocurrencies in India since the court made a decision against their central banks circular to every banks there.But if you found doing any activities like money laundering,tax evasion then it may go against you.He need to tell from whom he received the money into his bank account to know what actually happened.

It would be difficult to unfreeze your bank account if they already settle that it is related in a cyber crime because some says banks do hate cryptocurrencies. So it might be the reason why your bank account was blocked because they assume cryptocurrency is always being used in illegal activities like scams and frauds. It is also the reason why I didn't use my bank accounts in any crypto related activity because maybe my bank account will be blocked.

Any other update so far?
I want to follow your case as well as your bank because the law in this area is still limited. I want to learn more about this.
I have no experience in this kind of stuff, but I think you must talk to the bank and together find a way to get away with it. There's no way that the bank just froze your account without any further announcement.

That would be the probable reason but as far as it concerns you with regards to your bank account then you must contact your bank immediately to clear things about you. They could not arrest you with just being suspected from the cyber crime because it is the authorities duty to do it. And if the banks could explain to you why get your bank account freeze then that would be better but if not then you may ask someone to go the authority to ask something in regards to your problem. Just do not ask your friends, brothers or sisters instead someone you can hire to do it so whenever he gets to questionning and for interrogation you friends and family will not get into trouble. Mostly authority will detained if they found really your case a serious case especially if it is being tagged as big time scammer or hi jacking of cryptocurrency.

Is there any monthly limit on your bank account? Maybe the amount of money was huge that's why your Bank Account Freezed. You should contact to the bank. Sometimes bank freeze the account for big amount of money. Many people in our country faced same problem because of unusual activity ( big amount of money trx) after that they contact with bank & problem was solved. Better option is contact bank. They will give actually what to do & what was the main reason.

Some transactions that are suspected of being illegal transactions may be the cause. Some large transactions that you make on the P2P cryptocurrency platform may be tracked by the bank you are using. You should ask the bank directly why your bank account is frozen. There may also be a number of reports that point to your bank account so the account freezing process must be done.

I completely agree with all the rest, but I wouldn't ever trust Revolut. I don't know if bitcointalk has a positive stance on this bank, I don't after a lot of situations that I've read happening with them. Basically, I trust no bank and absolutely despise their business model and how the EU has given so much power to banksters. But this is not my reason not to trust Revolut. There are too many red flags and similarities to Wirecard.

Perhaps going full Bitcoin without the DeFi Ponzi nonsense and without trusting any bank might be a choice.

Plenty of banks don't allow cryptocurrency purchases or even purchases of blockchain-related goods and services like mining equipment or cloud mining plans.

This is particularly the case when you live in a less free society, such as China and many middle-eastern countries.

This is exactly why you should suck F.U to the banks, and just use DeFi or go full crypto.

Alternatively, you can use one of the myriad crypto friendly bank providers, such as Revolut etc.

You need to get further explanation from the bank to know what is the real issue, probably someone used a hacked bank account to trade with you which could be the reason why bank freeze accounts.While trading on p2p you need to watch out for the scammers better avoid trading with new and unverified accounts.

The best thing to do and the higher chance to recover your money and for
you to unfreeze your account.
You need to fully cooperates with them in order to understand and to get
all the information that they've needed
to settle and to allow you to get your money, it's you that needed to cooperate
if you really wants to get proceed and recover your money.


Good point, you need to seek for anyone who also experiencing this problem
it will quicken the process if you know
what exactly the procedures before you go to the bank and discussed your concerned.

Since the crypto is not banned currently so speak to the bank is the right options. Do check with them the reason why it is still not operative and ask them the formality on how to get it unfreeze. I think there would be few of them who's account might have freeze and would have got it reversed. See if you have any friends in any of the banks speak to them and check how to go about it.

this is goofy .your issue is bank related but it took you long enough to find a place and now you find this forum but all talks here are only crypto not non related to crypto like local banks.

 they give remarks according to your account so maybe you did an illegal thing  and its been a year without response , your still hoping ? you learned your lessoned , next time dont trust banks because banks are not convenient . 

The bank needs clients, but banks operate in accordance with the law, because they are afraid of losing their licenses.

My accounts were blocked several times, and I managed to solve all the problems without a lawyer. You don't need a lawyer to find out the reason for blocking.

If you want to exchange cryptocurrency for $ 10,000, open accounts in 10 banks and withdraw $ 500 2 times with an interval of 1-2 weeks. Do not withdraw cash immediately after receiving the money, wait a few days.

Never send money to the account where you receive a salary, pension, benefits, etc.

We really don't know what really happened to you and to your bank account that got frozen. If you didn't something illegal ,you should make a solution for this. If there is no one contacting you from cyber crime department then you should go there and ask help to them on how to get back your frozen account. Only you can solve your problem and i believed you will resolve it as long as you are not found guilty by the cyber crime.

And the lawyer will help him communicate with the bank and know the truth about being freezing his account. Because if there's no lawyer, they can say whatever they want, and you as their customer will think of awful things why your account got tagged. Will the OP update us regarding the progress of his case and what's the real reason why the bank did come up to that action?

You better do coordinate with your bank regarding your issue on your bank account because if there is any concern being raised, then you must be the one to talk them regarding your problem and how can you resolve such issue. Basically maybe there is a misunderstanding that happened because if the issue just happened just by this year, on which India have already allowed cryptocurrency in the country so maybe they have not been aware of it or there are other suspicious things that have happened and they are just waiting for you to get them regarding the problem.

The one who can resolve that will be with you and your bank for you have agreed with the terms and conditions applied when you first open up your bank account. The best thing to do is raise your inquiry to the bank itself and ask what happened that make your account frozen for quite sometime. Pretty sure that would be resolve once there is a decent communication between you two.

OP, Have you found a way to recover, your bank account, which has been frozen.

Because you are with me a different country, do not know exactly how to process your country's Bank (India).
"But I see that there is a similar case like you, maybe you can contact the person below".


So far: @ jaideep10002 is inactive from 2019, but you can still try to contact him through his data below.


Note:
Be vigilant, conscientious, of strangers we just met, never send anything of value before your case is finished.

As far I know in India Crypto is unbanned now and anyone can use it.So I have there is something misunderstanding with Bank.So first contact with Bank about your problem and hope you will get your account unfreezed.

Is there any law that prohibits online currency trading in the country? You probably should have that at the back of your mind when going for inquiries/questions. Maybe they made some mistake on your account, or its could be due the government extreme posture on cryptocurrency, which I suppose has been relaxed a bit by now.

How do you use banks in the country now? I remember biometric ID was implemented in there not too long ago... which will probably make it hard  to open accounts in other banks (assuming it's mandatory to have the biometrics done before owning a bank account.)

Thats weird, just frozen account but no follow form authorites.
But if i recall corectly India has had very irrational attiude towards crypto currencies, it could be that they are cracking down on anyone who uses crypto. Or it could be that the particular exchnage was linked to illegal activity and they are still investigating. The logical thing to do would be contact authorities and try to resolve this.

It is probably that P2P transactions/trades made you suck and caught attention with the bank assuming that there are something suspicious activities of it. It is their call to froze your bank account and reported it to the Cyber Crime to conduct a further investigation and until it was not yet finished and have their final assessment, all your bank transactions will put on hold. You don't have to worry about this if you know yourself that you are not doing any stupid.

There could only be 3 reasons why banks froze your account:

• Your account was suspicious for doing illegal activities
• You have unpaid debts on your creditors
• You have unpaid debts on your government

You should know what is happening on your bank account.
In your case, I guess the bank thought that your account was suspicious so they froze it.

You can defend yourself if you knew that you did not do anything wrong.

I agree that you should keep your silence until you get your own lawyer because they are the one who can defend you legally.

I guess that happens based on the government of your country's policy as regards cryptocurrencies. If you made a withdrawal of Fiat currency from the P2P into your bank account, that may be the reason your account was blocked based on your country's policy as regards cryptocurrencies.

That's the problem with centralized authority because anytime they can confiscate your money. Maybe email them an inquiry to why your account has been frozen? What are your violations, then if dont show any satisfying proof that you've violated or directly involved in any crimes. You should demand or file a case regarding this issue.

I understand that it was not clear for the Cyber Crime group how crypto it works, they only generalize as many illegalities have uses that it caught attention in those who use cryptocurrency and blocked your all transactions. Banks could do nothing with that because they might be in question if they allow it and urge to open it because someone requested. This is also hard when the government don't have support to crypto.

If there is a way to communicate with the Cyber Crime group and tell your side, maybe it could settle it down but the question if they will listen to you or the worst-case scenario if send you into jail directly...that is a big problem.

I'm sure what you mean by cyber crime is the police, who handle crime in the internet and digital world. If my guess is right
chances are you are involved in illegal transactions, not because of P2P trades. Maybe it's still under investigation, so there is
no party who contacted you. You better come to the cyber crime office to ask for an explanation regarding your frozen bank
account. It is impossible for the bank to suddenly freeze your account if there are no serious problems.

If this really is just a police division there should be an attourney or a judge assigned to the case who signed a warrant allowing the bank to freeze funds.

A policeman cannot order a seazure of assets or anything like that.

Some previous posters gave you good advice that you should follow: get a lawyer.

It is really strange because the account is frozen by the bank authorities claiming that they got instructions from cyber crime but they did not even bother to interrogate your about the circumstances and you did not seek clarity regarding the situation either. P2P trading has its risk as you might get hacked money into your account and hence you should only do trades with the sources you trust.

When you do talk about cybercrime then its a division on where police that had been assigned on this field have technical knowledge towards on whats happening online and that would include
crypto into their list but it isnt limited into because all frauds and scams that do happen then they're the ones who do handle it out.This isnt available in most part of the world
on where such division do exist but surely there are several countries had already this kind of group.Bank account freezed? If op do like clear explanation then he should head to
cybercrime division and ask out the whole thing.

Your account got tagged. Highly likely they were tracing some illegal transaction and your account got linked on the process, hence the instruction from the law enforcement to block your account. I doubt you will be able to unfreeze it until the case ends or are able to prove your self innocent.

If I were you, I wouldn't talk to anyone until I got a lawyer for myself. Your lawyer will be able to help you understand your rights properly.

There was a RBI ban until this year March. The ban has been uplifted by the supremecourt order. Yoy may request bank to reopen your freezed account.

But I am little bit confuse about how they know about the P2P crypto transaction?

This is a very low move of many banks lately. In Romania many accounts associated with crypto transactions are closed everyday, with or without a reason. I think the banks already feel how dangerous Bitcoin is for them and do their best to stop it, using more or less ridiculous reasons, such as "we were instructed to do so by our internal Cyber Crime department".

I don't know if a rational debate with the bank will help you recover your account, but I believe it most likely won't. Try to avoid bank as much as possible.

I think it is because of your trades there are some banks that freezing account if there if it is used in some transaction because they don't know if it the owner is the one who makes the transaction.

it's common when you use a card outside the country without telling your bank usually the bank is going to be freeze, just contact your bank and probably they are just going to ask a few questions.

You can ask your bank how on what reason has put your bank account into being frozen. If the bank account can't answer your question, You should go to Cyber Crime authorities directly. Just remember your past activities with your bank aside from P2P trades you did, That might be the reason why your account was frozen.

Also, can you tell us the P2P platform you used before your account got frozen? As far as I know, it is legal in your country to use cryptocurrency.

I hope you did your own investigation or contact the authorities about this because it happened last year.

I don't think that the bank account is freezed because of Bitcoin trading. In most countries authorities need a very hard, solid reason to freeze account and in most cases a warant too. So I beleive that there is some suspicion.about illegal activities, money laundering and similar, not necessary of the owner of account. Anyway, people should check all the facts and background before they share information like this.

That's the reason why i don't like to use banks if my funds came from crypto.
If you think you did not do anything bad or illegal then you can ask help to the legal athority if what will you can do to unblocked your bank account. If you need to pay tax then do it. Next time avoid using bank as long as you can. I think there are also remittance center in your country that can accept a cash out from crypto.

I've never had anything to do with the legal system in India so I'm clueless as to what your rights there are.

You should at least demand to see what you're accused of. In Europe they can freeze your account pending investigation but have to inform you what you're being investigated for.

There's also a period of time given in which they have to contact you with te results of the investigation.

How are you sure that bank or Cybercrime police had freeze your account due to bitcoin trading? Or are you guessing? If trading bitcoin isn't illegal in your country then the account shouldn't freeze. It would be possible the source of the fund who sent to you during peer to peer trading have a problem. Who knows if the buyer-seller is a criminal. Perhaps, there is some suspicious activity on your account noticed by cybercrime. If you are sure about your incoming funds to your account then you don't have to worry, just try to contact your bank by which department your account has been blocked then contact with them properly.

I don't understand at all, do they say that you are a person who took part in cyber crime and that's the reason? And the only action is locking of babk's account? Isn't there any investigation? Isn't police interested in it? Cyber crime, even words says that is a crime, violation of laws.
You can describe the situation and try your best to prove that you didn't commit crime and everything was pretty fair, ask for further review of your case and request to get your account unlocked. This is what I can advice to you but guess maybe Indian guys here may have better advices.
Also what about to name the bank? That will be beneficial.

You should contact your bank and ask them what's the problem, since bitcoin is legal there you shouldn't have any problem with them, if you can prove your bitcoins comes from legal trading then they should unlock that account.

Source https://news.bitcoin.com/bitcoin-legal-india-supreme-court-verdict-cryptocurrency/#:~:text=The%20Indian%20supreme%20court%20has,industry%20has%20now%20been%20lifted.&text=Both%20the%20government%20and%20the,bitcoin%2C%20are%20legal%20in%20India.

If your bank account is blocked,then I assume that some sort of investigation is going on.The investigation might end with charges and prosecution.You should find a layer and get some advice.I don't know if there are any layers that are experts in the fields of both cryptocurrency and cyber crimes in India.
If you were trading big amounts of crypto then your problems might be big.If you were trading small amount,then you shouldn't worry that much.

Most financial institutions including banks are not friendly with bitcoin especially in countries that remain undecided whether or not to regulate crypto. receiving funds from the crypto-related business might be the reason why your account got frozen. However, It will be better if you can go to the bank and complain to them in order to understand why your account got frozen and how to unblock it

Does that bank account contains huge sums of money? if you have no choice, you'll probably interrogated by their cyber crime division and for follow up verification and you have to tell the truth.

If you are not involved with any crime and you're just mainly trading, you don't have to worry.

How did you make transactions using your bank to p2p platform and which is it? If it was last year then India hasn't have the law against crypto. I think its fairly legal.

I have not tried it but would like to do it too. Banks are very strict to some of these transactions. I was working for someone just two weeks ago and he paid me thru paypal and my bank account was also frozen because of suspicious activity. I have to call them to unblock by sending SMS to unfreeze.  Crazy days for banks that they are all paranoid.

What does Cyber Crime branch exactly mean? A cyber police on your country? That sounds vague. Pretty sure your own bank are blocking the transactions and not some random third-party. Maybe ask for contact details for the so-called "Cyber Crime" branch and go from there. We can't help much to be honest.

This is one of the main negative sides of using bank accounts with crypto.

If you haven't done anything illegal, you should have a chat with the proper authority about it. You may have traded with someone who later proved to be a crypto thief, which may have triggered your account suspension. Might be a good idea to first talk to an expert just to make sure your trades weren't illegal in any way (if the taxes were properly paid, etc).

If you're entirely sure everything you have done is legal, then there shouldn't be a problem if you contact Cyber Crime Branch as far as I am concerned.

They said they cant do anything from their side!

They asked me to contact the Cyber Crime Branch. Before I do that i want to know what are the steps to follow...

Ask your bank if there's a way to unblock it.

If that's the reason there must be a protocol from their officials that if an account is found to have been connected with those reasons mentioned, they'll automatically put you in blacklist.

It's best for you to talk to the bank and ask what you should comply to unblock your account. If you have a huge amount of deposit there, ask them properly.

After a long time, I found a right place to ask my question.

Last year, my bank account got frozen. Bank said that my account is blocked based on the instruction from Cyber Crime.

I did few P2P Trades on P2P Platform. Is that the reason?

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?


Update:

I am from INDIA.