CZ's book contains these two sections about police enforcement:
In 2020, a police station demanded Binance freeze a user's account and then forced the user to pay 30% of the money to retrieve it—essentially extorting under the guise of law enforcement.
Binance refused to cooperate, and the other party began to harass Binance employees' families in the area...
In 2021, two local police officers "borrowed" government confiscated funds to speculate with friends, losing everything, then came to threaten Binance for compensation, or else "take severe measures."
CZ personally answered the call, reported the situation to the central government, and had these two little police officers arrested...
If this exchange doesn't have some upper-level connections, it surely must go bankrupt, right?
In 2020, a police station demanded Binance freeze a user's account and then forced the user to pay 30% of the money to retrieve it—essentially extorting under the guise of law enforcement.
Binance refused to cooperate, and the other party began to harass Binance employees' families in the area...
In 2021, two local police officers "borrowed" government confiscated funds to speculate with friends, losing everything, then came to threaten Binance for compensation, or else "take severe measures."
CZ personally answered the call, reported the situation to the central government, and had these two little police officers arrested...
If this exchange doesn't have some upper-level connections, it surely must go bankrupt, right?