LBank freezes over 1M USD in futures profits and spot funds

An X user named "dlrrwad" reported that over 1 million USD in funds were frozen on the crypto exchange LBank without clear explanation. The user indicated that significant profits were generated through high-leverage futures trades starting on Aug. 31, primarily involving major altcoins such as XRP, DOGE, XLM, NEAR, FIL, and SUI. Withdrawals were unexpectedly halted on Sept. 19 while attempting to withdraw part of the funds. LBank subsequently requested additional verification and identity checks. After the user complied and submitted further supporting documents, the exchange informed the user on Oct. 14 that the funds had been frozen. The user also mentioned that all futures positions were forcibly liquidated during a recent market downturn due to trading restrictions, and approximately 1 million USDT in the spot account remains frozen. The user advised others to reconsider using LBank until the situation is resolved.

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