In recent years, cryptocurrency trading has become very popular in India, especially through Binance P2P (Peer-to-Peer) transactions. While this method allows buyers and sellers to exchange INR for USDT or other tokens directly, it also comes with risks. Sometimes, money from cyber fraud or illegal transactions flows through these P2P deals.
As a result, the Cyber Cell or Police may freeze (lien mark) a bank account linked to suspicious Binance P2P payments. Even innocent users who conducted genuine trades may find their accounts frozen. If your account has been frozen, here are the steps you need to take to reactivate (unfreeze) your bank account.
Why Does Cyber Cell Freeze Bank Accounts in P2P Transactions?
-
Suspicious Transactions – If fraud money passes through your account during a P2P trade.
-
FIR Registered Against Fraud – Victim of an online scam reports money transferred via Binance P2P.
-
Police Investigation (CrPC Section 102) – Police can seize accounts during investigation.
-
Lack of Crypto Regulation in India – Unclear laws make authorities freeze accounts as a preventive step.
Steps to Unfreeze and Reactivate Your Bank Account
Step 1: Contact Your Bank and Cyber Cell
-
Visit your bank branch and ask for the reason of freezing.
-
Obtain the FIR number, complaint ID, and police communication copy.
-
Approach the concerned Cyber Cell to confirm details.
Step 2: Submit Application to Cyber Cell
-
File a written application stating that your Binance P2P transaction was legal.
-
Attach supporting documents:
-
Binance P2P trade history
-
Bank statement
-
Chat/transaction screenshots
-
KYC details of the counterparty (if available)
-
-
If the Cyber Cell is satisfied, they will issue an NOC (No Objection Certificate) to the bank for unfreezing.
Step 3: File Application in Magistrate Court (CrPC Section 451/457)
-
If Cyber Cell refuses or delays, approach the Magistrate Court.
-
File an application with account details, transaction proof, and an affidavit of innocence.
-
The court can direct police/bank to unfreeze the account after reviewing the evidence.
Step 4: High Court Writ Petition (Article 226)
-
If lower court remedies do not work, file a Writ Petition in High Court.
-
The High Court can order unfreezing since blocking your account affects your Fundamental Rights (Article 21 – Right to Life and Livelihood).
Documents Required
-
Bank account details and freeze notice
-
FIR/Complaint copy
-
Binance P2P transaction history
-
Bank statement
-
ID proof & address proof
-
Affidavit of innocence
Role of a Cyber Crime Lawyer
-
Draft proper application for Cyber Cell & Court
-
Collect and present transaction evidence
-
Argue before Magistrate/High Court
-
Speed up the unfreezing process
If your bank account has been frozen due to Binance P2P transactions, do not panic. First, contact your bank and Cyber Cell for details. Submit an application with complete transaction proof. If that fails, approach the Magistrate Court under CrPC Section 451/457, or High Court under Article 226, to get your account activated again.
With the support of an experienced Cyber Crime Lawyer, you can protect your rights and regain access to your funds.
Disclaimer
This blog is for informational purposes only and should not be treated as legal advice. We are not doing any advertisement or solicitation work. If you are a victim of cyber crime, immediately contact the National Cyber Crime Helpline (1930), and file a complaint on www.cybercrime.gov.in.