Australian customers of Binance, a Dubai-based cryptocurrency exchange, are eager to withdraw their funds after the exchange lost its banking partners. Some are willing to accept a $6,000 reduction to liquidate their bitcoin holdings.

Binance has announced the cessation of all Australian dollar withdrawals due to fraud concerns raised by its banking partner Cuscal, and Westpac has prohibited customers from transmitting funds to the exchange.

Binance has notified its Australian clientele that their residual Australian dollar balances will be converted to USDT, a form of cryptocurrency pegged to the US dollar.

Binance is currently seeking a substitute service provider to enable continued provision of deposit and withdrawal services in Australian dollars.