Binance users have withdrawn almost $1.5 billion from the crypto exchange in the past day, following a new lawsuit from the SEC over alleged securities violations.

The SEC claims that Binance lured US customers to their unregulated platform and mixed investors’ funds with their own, and alleges that 10 cryptocurrencies offered on Binance.US are unregistered securities.

Binance expressed disappointment with the charges and claimed they came as a surprise, but traders are now increasingly seeking out regulated and audited exchanges rather than solely opting for convenience.