It’s important to distinguish between disabling buy/sell services, closing a CoinZoom account, and preventing access to funds.
Disabling Buy/Sell Services
Due to violations of our User Agreement, CoinZoom may restrict access to buy and sell services on a customer’s account. This may occur for reasons including, but not limited to, a high risk of fraud. When services are disabled, customers still retain full access to their digital currency wallets. Any funds held in fiat wallets can still be withdrawn to a verified bank account.
Closing a CoinZoom Account
In some cases, CoinZoom may initiate account closure due to violations of our User Agreement, including engaging in prohibited activity. When this occurs, buy and sell services are disabled and wallet functionality is removed.
However, customers will still be able to withdraw all digital currency to an external wallet and any fiat funds to a verified bank account. These funds are not frozen.
If an account is closed while a buy or deposit is pending, the funds will be available for withdrawal once the transaction is complete.
Preventing Access to Funds
In rare circumstances, CoinZoom may be required by law to restrict access to customer funds. This may happen when:
- We receive a court order or legal directive requiring us to restrict access
- We must comply with sanctions programs (e.g., those administered by the U.S. Office of Foreign Assets Control, or OFAC)
Note: Certain CoinZoom products, such as multisig vaults and paper wallets, are non-custodial. CoinZoom cannot restrict access to funds stored with these products.
For more information on prohibited activity, see the CoinZoom User Agreement:
https://www.coinzoom.com/legal/user-agreement/#Prohibited-Use