Crypto exchange Payeer.com affected by 19th EU sanctions: Freezes some accounts ahead of Nov. 25th deadline.

[4give4live]

Hello everyone. I haven't posted on the forum for a long time, I hope everything is in good health and prosperity. I wanted to warn everyone who has an account with one of the most famous crypto exchanges. Payeer.com about the mass blocking of their clients' accounts and the imminent theft of personal funds on all accounts. I am attaching below one of the recent Trustpilot reviews from one of the victims of this scam, which describes everything that has been happening since October 28 - https://ie.trustpilot.com/review/payeer.com?page=1

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Money Masters, or How PAYEER® Embezzled Its Clients' Million-Dollared Funds​

"Once upon a time, Payeer was considered one of the best platforms for conducting various financial transactions and using it as a wallet for savings.

The attractive design, user-friendly, intuitive operating system, and user-friendly controls undoubtedly captivated users, attracting new potential clients and keeping existing ones, who have been using it since its inception in 2012, engaged.

Various innovations, responsive support, and well-deserved positive reviews instantly elevated this service to the status of a cult classic.

While the rest of the world rushes headlong, trying to outpace itself, thereby stumbling and causing extreme inconvenience to many, Payeer allows everyone to navigate their own path in the world of finance, calmly, without any forks in the road or obstacles. However, Payeer himself was unable to navigate his way smoothly and stumbled, falling into a puddle of mud of his own making!

October 27, 2025, was remembered by many because the news alerts on the Payeer website stated:
"The 19th EU sanctions package
Due to the introduction of the 19th package, we are discontinuing services for users in Russia and the European Union. Withdrawals from accounts for users in these countries will be available until November 24, 2025.
Please note that we are required to conduct additional AML/KYC checks for some users.

Sincerely, PAYEER."
This news surprised some users who had been with Payeer for a long time, but the best was yet to come.

In essence, this news is useful and seemingly allows everyone, without exception, to withdraw all their funds before the specified deadline. This is what every self-respecting organization does, one that cares about its reputation, which has been built up over the years, so that it can leave gracefully with its face held high.

When users decided to do as described in this news, they were surprised to realize one thing: their funds no longer belonged to them. They were blocked!

For everyone, whether verified or not, to make their accounts accessible again, they need to provide support with a wealth of information. Perhaps everything would be fine, but support either takes a very long time to respond, or they respond by essentially demanding the same information, only in other words, replaying it a second or third time, thereby stalling for precious time, which expires on November 24, 2025. In short, this whole dilemma of having to contact support, confirming everything, is just an excuse to delay the process or even prevent most people from withdrawing their funds altogether. But everything could have been done much more simply, without all these obstacles, like a normal, self-respecting organization!
Many dreams, many years of plans, all vanished into thin air in an instant, and I am one of those people! A year ago, this very month, the funds stored in my Payeer wallet helped me overcome a serious illness. Now this news has happened, and it's unlikely the service's current state will cure anyone but its Owners!

And the scariest part of this situation is that not all Payeer users are aware of this news, as it only appeared on their website, not in their email inboxes, for example. So, by the time others learn about it, it will be too late, as their funds will be entirely in the hands of the new "Money Owners," and after November 24th, they will vanish into thin air."



Withdraw your funds if your account is not blocked yet.

 

[Tammy]

I understand the frustration at this, but it is much too soon to call this a "scam", when it looks as if the company is following international law as it must.

The 19th EU sanctions package imposes a transaction ban and prohibits EU operators from providing crypto services to Russian individuals and entities. It also explicitly bans transactions in rouble-backed stable coin. It's important to note that these actions are not a choice of the operator - they MUST follow international law.

I need to look into what is expected procedure for operators affected by this transaction ban, but I suspect the requesting of documents is likely mandatory. But that is just speculation on my part. But it's also speculation at this point to call it a scam, when they are forced to comply with these new sanctions. If I find out more information I will report it here.

 

[Tammy]

So it looks like the EU adopted the 19th sanctions package October 23, 2025. Payeer customers were notified on October 27, 2025. They are following the guidelines of the deadline for crypto exchange.

• November 25, 2025: Transaction ban on one crypto exchange and restrictions on AI, space, computing, and tourism services.
• Crypto wallets are required to collect information due to the EU's anti-money laundering regulations set back in 2024.
• However there does seem to be some wide-spread reporting of users

I did also find that there were some reports on this:

• Account Freezing: Reports from November 2025 indicated that Payeer was already freezing customer accounts during the designated withdrawal period, using "additional verification" procedures to delay or prevent access to funds.

Unfortunately, it looks like users from RU are in a tough spot, with little to no recourse if their accounts are frozen prematurely:
Russian individuals whose crypto accounts were frozen before the recent EU 19th sanctions package (effective November 25, 2025) may have limited recourse, and the potential for asset recovery is currently slim in practice, even if legally permitted in some cases.

Recourse Options and Challenges:

The possibility of recourse heavily depends on several factors: the specific sanctions applied, the jurisdiction of the crypto service provider (CASP), and the individual's status (i.e., whether they are a specifically designated person or an ordinary investor).

• General, Non-Sanctioned Individuals:For Russian nationals who are not on individual sanctions lists, EU regulations in previous packages (like the EUR 10,000 limit) required CASPs to cease services but generally directed that existing assets should be returned to the customer, converted into fiat currency, or moved to an asset category not subject to sanctions.
  • Challenge: In practice, many Russian investors, even non-listed ones, have found it nearly impossible to reclaim their assets due to practical difficulties, platform compliance de-risking, and the overall political climate. Reports indicate some platforms, like Payeer, froze accounts during the withdrawal period meant to allow exit before full sanctions took effect.
• Designated Individuals:Individuals explicitly added to the EU's (or other jurisdictions like the US/UK) sanctions lists are subject to a full asset freeze. It is illegal for any entity within the jurisdiction to make funds or economic resources available to them, directly or indirectly.
  • Recourse: Recourse in these cases is highly restricted. Assets might only be released under specific, exceptional conditions, such as for a payment due under a contract or agreement that predated their listing, and generally requires explicit authorization from relevant authorities, such as the Office of Foreign Assets Control (OFAC) in the US or relevant EU bodies.
• Legal Challenges: Affected individuals can seek legal counsel to explore asset recovery options, though the process is complex and often unsuccessful. The legal status of cryptocurrencies as property is still evolving in some jurisdictions.
• Russian Counter-Measures: Russia has introduced its own counter-sanctions and mechanisms, such as the use of special "type-C" accounts and potential asset swaps, to try and manage blocked foreign investments. These mechanisms are primarily aimed at foreign investors in Russia, but highlight the complex, reciprocal legal environment surrounding frozen assets.

Russian individuals whose crypto accounts were frozen before the recent EU 19th sanctions package (effective November 25, 2025) may have limited recourse, and the potential for asset recovery is currently slim in practice, even if legally permitted in some cases.

Recourse Options and Challenges
The possibility of recourse heavily depends on several factors: the specific sanctions applied, the jurisdiction of the crypto service provider (CASP), and the individual's status (i.e., whether they are a specifically designated person or an ordinary investor).

• General, Non-Sanctioned Individuals:For Russian nationals who are not on individual sanctions lists, EU regulations in previous packages (like the EUR 10,000 limit) required CASPs to cease services but generally directed that existing assets should be returned to the customer, converted into fiat currency, or moved to an asset category not subject to sanctions.
  • Challenge: In practice, many Russian investors, even non-listed ones, have found it nearly impossible to reclaim their assets due to practical difficulties, platform compliance de-risking, and the overall political climate. Reports indicate some platforms, like Payeer, froze accounts during the withdrawal period meant to allow exit before full sanctions took effect.
• Designated Individuals:Individuals explicitly added to the EU's (or other jurisdictions like the US/UK) sanctions lists are subject to a full asset freeze. It is illegal for any entity within the jurisdiction to make funds or economic resources available to them, directly or indirectly.
  • Recourse: Recourse in these cases is highly restricted. Assets might only be released under specific, exceptional conditions, such as for a payment due under a contract or agreement that predated their listing, and generally requires explicit authorization from relevant authorities, such as the Office of Foreign Assets Control (OFAC) in the US or relevant EU bodies.
• Legal Challenges: Affected individuals can seek legal counsel to explore asset recovery options, though the process is complex and often unsuccessful. The legal status of cryptocurrencies as property is still evolving in some jurisdictions.
• Russian Counter-Measures: Russia has introduced its own counter-sanctions and mechanisms, such as the use of special "type-C" accounts and potential asset swaps, to try and manage blocked foreign investments. These mechanisms are primarily aimed at foreign investors in Russia, but highlight the complex, reciprocal legal environment surrounding frozen assets.

Key Takeaway
While some sanctions frameworks theoretically allow for the return of assets to non-sanctioned individuals, accessing these funds can be very difficult in practice. Individuals facing such freezes are advised to seek expert legal and financial counsel to understand their specific situation and explore any potential, albeit limited, recovery options.
While some sanctions frameworks theoretically allow for the return of assets to non-sanctioned individuals, accessing these funds can be very difficult in practice. Individuals facing such freezes are advised to seek expert legal and financial counsel to understand their specific situation and explore any potential, albeit limited, recovery options.

 

[4give4live]

Tammy, they didn't even send this news to people by email. Someone still doesn't know what's going on. They are requesting information from people not only from Russia, but also from the European Union, for transfers from 8 years ago! You do realize that this is nonsense, right? They don't answer the questions: why didn't they notify people by email, why are they checking transfers from 4-8 years ago only now, and not in those days, they write that they "don't need my funds", recognizing that they are mine (I sent them all the checks, statements, reported for 2025, 2024, 2023, and the funds were credited to the account in October 2025), but when asked why they are withholding them and who will appropriate them on November 24, they remain silent. They consider the freeze, the ultimatum until November 24, and additional verification to be justified, which cannot be passed, citing a clause in their rules that in fact allows them to do anything without responding to anything or for anything because of sanctions (this is just an excuse), but the question is not justified. whether it was impossible to provide them with statements for 2022 due to the withdrawal from Russia, the closure of accounts in poker rooms and the wallet from which I withdrew to my Payeer account are not answered. It's all a scam. They ask you first about 2025, then about 2024, then for a specific translation from 4 years ago, until you can answer at least one question per translation. These are thieves who have been pretending to be a serious company for 13 years. That's the whole truth.

 

[4give4live]

Not a single room, except the Ukrainian one, has robbed Russians because of the sanctions. Even 888, with whom I argued about the bonus dollars that they had not paid, paid the Russians all the amounts on the balance. Sanctions have nothing to do with this. This is just an excuse to get your hands on the funds of outgoing customers.

 

[4give4live]

Change the title of the topic to the one I originally wrote. They don't rob Russians. They're robbing everyone, and European accounts are frozen too. Visit trustpilot and check out the latest reviews. Did you even read what is written in the review of a person NOT from Russia, which I attached to the topic?

 

[Tammy]

All I can report on is what is readily available doing an internet search, of which I did include there were some reports of accounts being closed before the Nov. 24th cut-off. Unfortunately, people who are upset often use review platforms like Trust Pilot to complain or make accusations that are unfounded. We have no way of corroborating that.

I've changed the title to reflect that they are freezing accounts ahead of the Nov. 24/25th deadline.

I hope you have a favorable outcome - I imagine this must be incredibly frustrating.

 

[4give4live]

They simply start ignoring people who have reported for all transactions. There was silence on the question of who would embezzle the money on November 24. So far, no one has been notified by email about what is happening, and that they need to be "verification". That's enough to understand what they're doing. The information was for people from all over the world whose accounts are not frozen there. I'm not looking for justice here. It simply doesn't exist.

 

[Tammy]

They simply start ignoring people who have reported for all transactions. There was silence on the question of who would embezzle the money on November 24. So far, no one has been notified by email about what is happening, and that they need to be "verification". That's enough to understand what they're doing. The information was for people from all over the world whose accounts are not frozen there. I'm not looking for justice here. It simply doesn't exist.

I'm sorry. It seems incredibly unfair, and that people affected have no recourse.

 

[4give4live]

I wanted to inform that my account was unblocked on the last day and the funds were returned. I still don't fully understand what exactly is happening, but I really hope and wish that all people who find themselves in the same situation get their money back. From today, I do not have access to the account. Good luck to all.