James Wynn, a leveraged trader known for his big profits and losses, claims that his UK bank account has been frozen without explanation.
summary
- James Wynn says the UK bank has frozen his account without explanation
- Leverage traders claim he paid “millions” in taxes from these accounts
- His claims sparked debate over the ban bullet in the UK
A new incident from the UK is igniting debate about evacuation. On Friday, September 5th, UK-based leverage trader James Wynn published a post claiming his UK account had been frozen. According to Wynn, this was despite his claim that he was not engaged in illegal activities and would use his account to pay “millions” in taxes.
My bank account in the UK is frozen.
An account where I paid millions of pounds worth of taxes.
It's frozen. There's no reason. There are no Iriket activities. I have no criminal history. There is no explanation.
One of them paid a very large amount of money to the UK government to pay my taxes early *…
– jwynn.eth (@jameswynnreal) September 5, 2025
Wynn said bank officials just told him that the instructions were “from higher” and that they would contact him. So far it is unclear whether the bank or the UK authorities are responsible for the decision. However, the post encouraged discussions about cutting.
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James Wynn Case sparks debate about taking off
UK authorities can legally freeze accounts under “reasonable suspicion” that their accounts are part of money laundering, tax evasion or fraud. These orders last up to two years and affect all balances above £3,000. In 2024, there were 341 such cases, freezing assets totaling £57 million.
Banks may independently refuse or freeze services. This usually happens to politically exposed people engaged in controversial activities, or customers who have a “reputation risk” to the bank. This practice, also known as stripping, has been under recent scrutiny, especially in the US. In particular, this practice appears to have an impact on disproportionately affected crypto businesses.
James Wynn is a leveraged crypto trader known for his massive victory and even greater losses. He is famously transformed $700,000 to $25 million through Memecoin before suffering major liquidation. In July he lost 99% of his estimated $100 million portfolio.
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