On 19 May, 2021, Binance, the world’s largest crypto exchange, froze. As a result, the trading accounts of numerous traders were unable to close out their postions. At the same time, the markets were turning red, resulting in significant losses.
Many affected traders tried to contact Binance for support and compensation, but with no success. With the help of funding from Liti Capital SA the Steering Committee set out to help Binance trader who lost money due to the freeze by pursuing legal action.