Late last night, a user group from a certain exchange platform was in complete chaos.

It all happened without warning—a large number of users opened the app to trade, only to find that they couldn’t log into their accounts. A cold message popped up on the screen: “Your account has been frozen. You can log in after access is restored.” No email notification, no SMS alert—just suddenly locked out.

What exactly happened?

From the information currently circulating, quite a few users have been frozen, and most of them are ordinary retail investors. Even more bizarre, the platform has yet to make any official announcement, and customer service is nowhere to be found. Some users in the group are frantic—“I still have tens of thousands of USDT in there!” “Is this an exit scam?”

If you’ve been affected, don’t panic. Here’s what you should do:

Immediately take screenshots and save every page you can see—account status, asset balance, freeze notice, anything you can. Then, submit a support ticket, send an email, and @ customer service in the official community, explaining your situation clearly. Next, look for any victim support groups that have formed—sharing information is crucial. Finally, organize your deposit records and transaction history; if legal action is needed, this will all serve as evidence.

To be honest, this isn’t the first time something like this has happened.

That’s the nature of centralized platforms: your assets may appear in your account, but in reality, the platform is in control. The lesson couldn’t be clearer—don’t put all your eggs in one basket. Important assets should be moved to wallets where you control the private keys. Stay as far away as possible from small platforms with zero transparency and regulation.

Is this just a system glitch, or something more serious? It’s hard to say for now. But one thing is certain—in this space, you are the most reliable custodian of your own assets.

Is your account still safe?