Gauhati High Court orders release of Bitcoin trader's frozen bank account
Assam Police's cyber cell had a P2P Bitcoin seller's bank account frozen after he sold Rs 8,000 worth of Bitcoin on Binance. No cheating or fraud charge was laid against him. The Gauhati High Court allowed his plea and the account lien was directed to be removed.
This page records what the cited court, tribunal and government records say happened. Findings belong to the court or authority that made them; this register adds none of its own. Names of private individuals are withheld unless a naming gate clears them.
How we verify →The petition was allowed and disposed of on 08.04.2024, with the lien-removal process for the account already initiated by the police.
What happened
The High Court recorded that the petitioner was 'actively engaged in the world of cryptocurrency trading', 'particularly in Bitcoin, through the popular exchange platform, Binance.'
The order states that on 08.08.2022 he sold Bitcoin for 'a total amount of Rs.8,000/-', paid by UPI into his Jupiter/Federal Bank account, with a Binance receipt showing completion; the next day the bank told him 'his account has been frozen on instructions and orders of a Law Enforcement Agency(LEA).'
The freeze traced to 'a complaint against his account number was lodged at the National Cyber Crime Reporting Portal' 'vide complaint No. 30408220003232 dated 09.08.2022', linked to Chandmari P.S. GDE No. 415/2022. The investigating officer later reported the account 'is not freezed' but 'under inactive status', with a centrally marked lien, and that 'Chandmari O/C has sent notice dated 19-10-2023 to the bank for removing of the said lien.'
The Court held 'the prayer of the petitioner is allowed' and 'Accordingly, the revision petition stands disposed of.' The excerpt sets out no penal section and no allegation of trickery or dishonest gain against the petitioner.
What the record says
“his account has been frozen on instructions and orders of a Law Enforcement Agency(LEA).”
Gauhati High Court, Crl.Pet./1018/2023, order dated 08.04.2024 — read the full text
A peaceful economic act
A voluntary P2P Bitcoin sale for Rs 8,000, with coins delivered and receipted, harmed no one; the seller faced an account freeze without any cheating charge against him.
What we could not confirm
District inferred as Kamrup (Metro) from Chandmari P.S., Guwahati. The buyer is described in the order as informant, but the excerpt attributes no fraud or cheating allegation to the petitioner.