But were they given the room to trade their coins to stablecoin before the restrictions commence.
Well, if my theory is correct, then... unfortunately warrants don't come with a warning.
Altcoins are unlikely to recover and we know the majority trade altcoins instead of Bitcoin.
My experience tells that altcoins price move nicely only for very short periods of time. Speculating on them is very risky even without external unfortunate interventions.
You need to see the screenshots (although some might be edited) but you'll really see people devastated.
Binance is losing money in all this. Their aim would have clearly been to leave people trade as much as possible, to give binance the trading fees. So I don't think that Binance wants to steal people's money.
Unfortunately they couldn't have asked people what to do, since then they would have been probably breaking the law. Also they could not take decisions on behalf of the users (about selling/exchanging).
Even worse, I am not convinced that those funds will be returned to the customers too soon (if ever).
It's a shitty situation and I can guess that many are devastated because many trade money they cannot really afford to lose. And I am
very sorry for them.
My points were only two:
* There were discrete signs for who could read them; maybe 2 years ago Binance would have been stalling/ignoring governments' requests, but this is no longer an option due to their new direction.
Also people did take unnecessary risks (without realizing that) and now they're in a very bad situation with no actual good solution
* I don't think that's Binance fault here
PS. Something that just came into my mind: did anyone try to ask Binance support to sell this and those coins for stable coins to avoid further loses? It could be (or it could have been) a possible course of actions.