A crypto exchange is a centralized platform, and while user access may be hidden behind encryption the admins always have a back door, which is why they can reset your password when you forget it.
If it was a crypto wallet then it would actually be encrypted but then in that case it wouldn't be "overseas".
Wtf is an "encrypted account"?
Cryptocurrency exchange and they have no access to it.
A crypto exchange is a centralized platform, and while user access may be hidden behind encryption the admins always have a back door, which is why they can reset your password when you forget it.
If it was a crypto wallet then it would actually be encrypted but then in that case it wouldn't be "overseas".
The US gov don't control the crypto exchange in other countries like Binance.
https://en.wikipedia.org/wiki/Binance
Someone does control it though... That's the issue with centralized exchanges.
Perhaps this guy was too dumb to realize that... Wouldn't surprise me. Since he was dumb enough to not practice his aim.