Bitcoin Forum

It is reported that exchanges began to freeze accounts for having been on the accounts of a "dirty" Bitcoin. Moreover, we are talking about Binance and about the Bitcoin, which was there 5 months ago. :( Thus, exchanges can freeze any amount of funds in order to cover cash gaps simply by tinkering with their user's transaction history. If suddenly a user once bought from someone a “dirty” BTC on OTC, send it on the exchange and then conducted operations with other BTC there for a long time, then at one moment he can get a ban and the exchange can don't give him money as much time Exchange wants.  :-[ I think it can affect everyone. so I share this info with you guys because I recommend you hold your money ONLY in your own wallets! so be careful and Happy New Year!

I have heard of a number of cases where Binance froze their accounts, they reported that money was investigated by a police in a certain country, These cases can not get money back, because users are difficult to prove the source of money. their.

Many of the BTCs in the market have already been traded for illegal purposes many years ago and these BTCs were traded in Binance as well as other normal exchanges. Consdering that there was no such rule last year, can I not sell BTC I bought last year because of the new year's rule? If I was not able to sell, why was it offering such support last year? Or will Binance produce a new BTC in return? this rule is just bullshit.

Thing is, could you eve prove that you are not the hacker who stole the money in the first place, i mean if you were the hacker, wouldn't you say you bought it OTC. This is the main reason i don't buy OTC, i don't want to suddenly be tied up in terrorism or something illegal.

Or put your coins to a wallet where you have total control of the private keys.

If you allow yourself to leave or store you coins in an exchanges, changes are you're going to lost it one way or another. Maybe your account being hack, or the exchanges itself being breach by cyber criminals, or worst your account being frozen for suspicion. It doesn't matter if it's Binance, as long as it is a centralised exchanges wherein you don't have the private keys, it is not safe.

well, i got suprised about it, i mean about binance. because i never heard any issues before.
this is really dissapoint,reputable exchange do something like that. i just have opinion right now, what will happen on the future of central exchange ?
did people will choose decentral exchange after such thing like this happened ? of course, for me binance dex is not really decentral exchange.

must classify cases clearly in order to be separate understandings from one case to another. In the latter case, binance froze user assets because it violated policy rules regarding the mixing process of wassabi wallets, and that also only happened in binance Singapore .

all will remain safe if we continue to adjust to the applicable TOS and avoid sensitive options that have the potential to cause problems.

This is exactly why I think centralized exchanges will be a thing of the past soon for trading cryptocurrencies. Of course that derivative Bitcoin products will still be traded on centralized exchanges like CMEs and Bakkt, but I expect that in the next couple of years most of the spot cryptocurrency transactions to be made through true decentralied exchanges, not on the actual "DEXes" that are all over the place nowadays - which are not 100% decentralized.

How did you get the dirty bitcoins?

If you have dirty coins always use some mixer to clean your coins before you send it to any  exchanges this is the best you can do now if you don't want to ban in some exchanges like binance mix your coins first before you transfer.

This is where decentralised exchanges come in, unfortunately most decentralised exchanges in existence now do not have the liquidity to support professional trading, I am hoping that this is one aspect of the Cryptocurrency sphere that would be changing this year because the complaints are seriously getting out of hands.

We are trusting our funds in the hands of several individuals and in some cases, anonymous individuals like in the case if Hitbtc and we don't even know who to hold accountable anytime they pull off stunts like this.

This is probably an unpopular opinion here.

I actually support the move of freezing accounts with BTC's coming from suspected illegal sources. There was an instance when Binance freezed an account because it belongs to a hacker. During that time, everyone's praising Binance for doing their responsibility in fighting hacks. I don't remember anyone rasing concern about a centralized exchange blocking a users fund.

yes, unless you have the private keys to a particular wallet you dont
have any control over the contents.

exchange wallets can seem like a secure place especially when you
create your password and 2FA authetication but you have to realise
the exchange can do whatever they want with your coins!

I guess many crypto users already know the disadvantages of using centralized exchanges... Hopefully this reaches to those that unaware of some of the implications. By the way, it's not a good idea to keep more than you can afford to lose on centralized exchanges. People should  follow the narrow path and not what everyone else is doing.

don't you think the exchange will look at it as a dirty coin as well because it has not history except its mixed?

i wanna test the exchanges though if they will freeze my account after depositing dirty coin worth $50. i however don't have a dirty coin. but i'd be amaze if they will indeed freeze my account with just too little to bother. and will they ever allow me to once again create a new account submitting the same KYC.

we really have to have a handle in fiat form, because investing with all funds owned is also not good because if there are mistakes in investing we still have a savings fund which certainly can still be used to invest again or for daily needs

Most exchanges still allow for mixed coins to be traded and don't do extremely deep analysis into TXes yet, so at the moment mixing coins up one or a few times should be enough. As for your account potentially being frozen for the equivalent of $50, it's still definitely possible if you're absolutely sure that the coins you have are tainted and if the exchange is serious about stopping potential criminals from cashing out their ill-gotten funds. You shouldn't be able to open a new account with the same KYC documents though, because I imagine that becomes blacklisted and you'll likely have to register from a new IP and clear the site cookies as well.

this is a big problem with centralized exchanges. I have not heard about cases of freezing money because of suspicions that the money is dirty, but if we think logically, such situations are possible. I do not hold much money on the exchange. You long term hodl money, of course, should be on a cold wallet

Centralized exchange is an alternative way to change assets to fiat or vice versa. I am sure in the future there will be a truly decentralized exchange in accordance with the true objectives of the crypto. maybe for the time being for traders, it is legitimate to keep a portion of it in a centralized exchange, because it is suitable for taking profits quickly. and for holders or long-term investments, storing it in a personal wallet is the most appropriate way. the fact now that crypto needs someone to trust (like a centralized exchange). without it, we have difficulties.

You're right about keeping ones money/coin in ones hands because exchange site can have any situation which would lead to user loosing his fund. But, we can't blame Binance and other KYC/AML exchange freezing users who get a "dirty" BTC into his account because that what the KYC/AML scheme are all about.

You are right that you should always keep your funds in your wallets. As for exchanges and account blocking, I believe that this is not correct and violates the terms of the user agreement. Why do not the exchanges begin to behave honestly with users and give initially all the truthful information. And so it turns out you work, and then bam and you have a blocked account. This is a very bad signal, which can lead to the departure of traders from exchanges that block accounts.

It's better if we secure the assets that we have in our personal cold wallets than we store them on the exchange because we shouldn't trust too much on the system that is on the exchange, especially if we are freezing as you say, of course all assets and money we have can be lost without the possibility of going back again, especially the reasons given by the exchange usually do not often make sense.

He is not talking about storing coins in an exchange. All he is saying is that there are chances of exchange freezing your acccount, thus your funds also getting frozen. This is true. This can happen. It doesn't matter if the user is storing the coins for short term or long term. As soon as the user tries to withdraw his coins, if the security alarm triggers, the account will get frozen. Now you can't just suggest him not to use exchange. That is not a solution.

Try to avoid the purchase of crypto currencies p2p unless you know the person is not involves any illegal activities.

If you bought coins for much cheaper price then you can try mixing the coins before sending them to exchanges which could reduce the potential risk but still can be traced.

You are right use wallets to store.

There's absolutely no reason to warn people about the act of decentralized and centralized exchange site because people have been warned a million time not to keep their fund on exchange site and if a centralized exchange site dont freeze the account that is associated with "dirty" BTC what's the point of it being a centralized exchange site.

Note : Wake up cryptonier.

You have used the term dirty bitcoin. So an exchange can freeze any account if found of illegal activities. Why would someone trade a dirty bitcoin in a regulated exchange like binance? What would you expect

What's clear is don't buy bitcoin and altcoin other than in exchange. Because the available funds are not necessarily good sources. It could be that someone wants to launder their money and then sell it privately or through OTC.
Actually, this violates the decentralization rules, but crime must also be dealt with. I agree in some cases with binance that will freeze funds sourced from risky reasons.
On the other hand, there are still many exchanges that do not care about where the user funds come from, just use that exchange, don't take it too hard.

The exchange sites have control for all over the accounts that already created since it was started. The exchange sites are using it to frozen your money as you don't know nothing about that but they will suspect your amount as the dirty amount. That has already happened with thousand accounts on poloniex and a lot of them must did so many verification to get their money back to their hand. It's better to seen what we need to send it to the exchange site.

Maybe for those suspicious account they can implement a freeze state but this is not good way since it seems like you demanding a declaration of youre asset. What if some huhe asset traders in Binance has really have funds then they can be suspected for money laundering. KYC is a best method and Binance have it so they can know whether the money circulating on his account is appropriate for him to have.

This incident happened to me in some other forum but I'm not going to mention the name of that particular forum. I am felt so sad, devastated and disappointed that time. The moderators tricked me out they accused me for using multiple accounts even they don't proof and I only have one account. They banned my account while my btc was still there and until now I cant withdraw all of my btcs so for me it is much better if you withdraw your btcs form time to time to avoid loosing your money if ever.

I agree. They did what must be done, and freezing accounts is good to raise awareness for people who would dare to do illegal stuff. I see no mistake with Binance aim. Though the thing is that if you got to be suspected for such activities, and that's probably the downside. But here's the catch as what majority here told about, try mixing it prior to exchanging it though there might be some suspicion but at least you got pretty much clean coin there.

Yeah this kind of issue is very frustrating because we cannot fully trust any exchange in storing our money for a long period of time unlike in our own wallets as exchange owner can easily freeze our money anytime they like.

I rarely put money in any exchange but for the traders this kind of problem is what they are facing and I'm sure that many already encountered this kind of problem.

I think their account got freeze because of their illegal doings like buying some illegal items across the internet that is why their wallet has been freeze for confirmation or security purposes. Try to look for some new wallet that has a double authentication so that hackers can't enter to your wallet and cannot use your money for illegal purposes.

That reason has already used so many times and the exchange site can't even prove it. I ever getting banned on the polo due to the suspicious reason and i never did anything with my money on py polo account. Hundreds people were getting the same problem like me in the past when polo has become the best exchange site in the world.
The problem is exchange site has the power over our money. it's not always about hacker.

There are very limited things you can do by storing money in your hands. The value of money is in the market not in hand.
Long term hodling might be a good strategy for huge profit, but it's not as much fun as earning money with your money by trading and investing.

Large exchanges like binance don't want to make a risk. especially about unknown transactions. because it's about rules with the government. so the exchange must freeze the dirty account. unless they can prove it is clean. we know, this exchange has many strict rules. so that everything can go well. according to our wishes. real exchange.

You are right, but the market also does not want to take the risk if there are users who intone to act illegally and leave it alone. the exchange market can freeze the account because it has got a regulation and every user in the market is required to do the KYC then whatever happens will be protected and must comply with the regulations in that market.
indeed, it's better to save bitcoin/money in your own wallet because it's safer but when you sell it in a market and there are indications of unnatural transactions, I'm sure your account will still be frozen by the market wherever it is.

Now that's another reason why people should stop storing their coins in exchange apart from hacking, it's unfair if they found out that you are involve in a dirty Bitcoin transactions and they limit or freeze your account, when you just a buyer, so do an investigation on where you are buying your Bitcoin but most of all avoid exchange in storing your coins.

Even before this has been an issue, but how can we determine if we are buying a dirty bitcoin if we don't even have the slightest clue of where did that bitcoin came from. Anyways, it would be better to store our funds in hardware wallet to avoid this kind of issues.

Can't blame the exchange for trying to follow due process to screen out any suspected transaction they are not comfortable with, all the many cases of hackers that have been going on lately and many of them unresolved might have compel this exchange to apply such measures,
actually, some of those btc might as well be bought from the "dirty btc" knowingly or unknowingly to trade in the exchange since it is not easy to determine where this btc are from, in this case, the exchange will do their job to protect their business, on the other hand the owner of the account will suffer the consequence if he/she is innocent. 

We need to find exchange that suits our personality, if we don't want doing KYC too much, and we know we're doing something against their rules then don't use it. Some exchanges were not too strict but also not too secure so we need to weight our priorities whether to use strict exchange that needs many rules to follow or something like decentralised exchange so it's us who will govern but might not be secured.

I have never heard of binance freezing their user accounts for legal matters. But if this is true then we'd better store bitcoin in other wallets because we really don't know the origin of the bitcoins we buy, if we were unlucky and had our accounts frozen, 100% of us would never have received those bitcoins again. And so far storing bitcoin in exchanges has been a bad option because exchanges can be hacked at any time.

we do not blame the exchange for following any procedure, but we say that it is not a good idea storing on our money on any exchange. It is very difficult for us to find out if you and I bought pure bitcoin or which one was used in illegal business. if, after all, we bought a dirty bitcoin, then no one can take it from us from our wallet

Simple, stop using centralized exchanges like Binance, and start using Decentralized exchanges like Blocknet.

There is absolutely no doubt in my mind, that decentralized exchanges will be the future some day, accumulating these projects while they're cheap might actually be the best move looking forward.
As to my knowledge, Blocknet is the only real DEX on the market right now. Just needs more liquidity and volume ;)

You can read more about it here: https://blockdx.com/

This is really alarming if you're a fan and user of a known exchange and knowing that they are acting like this, you just have to protect yourself and be aware of the potential freezing of your account and funds. They might suspect anyone to have a dirty transaction even without further investigation but if your transactions are clean and you're not involved with any illegal activity, you don't have to worry.

The act of freezing funds from the suspects is a cooperation of Binance to the affected ones so if your account got freeze and you're clean, prove it to them.

There’s a lot of cases like this and most of those account can’t be recover anymore so if you’re doing a dirty transactions then Binance is not a safe place for you because they are too strict. If you have no confident about the exchanges, then use a hard wallet and from there you can store your bitcoin without worrying of freezing your bitcoin. This concern remind us not to transact to anyone who you really don’t know especially big transactions.

Imagine when there's someone who bought bitcoin (dirty) from someone who he didn't know about and binance was blocking it and how it's possible to track if that was coming from the dirtry address or not? Remember there was a lot of mixer these days that increase the possibility for the dirty amounts to get spread into the market.
So, what you need to do to sell it through use the DEX. When CEx is really strict even when it's not your fault and your amounts gets blocked and DEX is the answer.
You must hold your money but when you are wanna selling it and where will you go?

If this is taken serious and it continues, so many exchanges will lose their grounds. Even the bug ones might not be excluded. Most of these things are happening because they are controlled by a central body; each of them is controlled by a centralized authority. We need a situation where individuals will be in full control of their funds, irrespective of where they might be.

Great advice.

Sometimes the circumstances under which withdrawals get withheld is definitely warranting of suspicion.

It would be possible and even likely that at least one of the exchanges are not acting in good faith, and are in fact cunning operators who use this as an excuse in order to hold customer funds for a while longer while they cover their liquidity problems.

It serious problem for anyone, exchange can do anything they want if there are many "dirty" strategy to get profit in their platform. I think we must withdrawal our balance each month to avoid this isues. Don't hold so many amount of coin in exchange, it will be better if we put them in our personal wallet.
If someday we want to sell coins make it step by step, don't send all your coin. Make it 25% from total balance per day, or you can do it with 3-4 exchange.

Yes, i agree with this, i never hold any crypto tokens in exchange. I save it in crypto wallet.
You reason to don't save your crypto in exchange because care about account Frozen. But i have another reason and this is about a Fee. Most of exchange always have huge fee to send/withdraw. So you just change to another token with more cheap to reduce fees.
In wallet is difference, you can setting the gas fee to send slow or fast.

It's true, I'm very cautious about storing on the exchange. Keep it in the wallet because it is safer and will not be disturbed by the owner of the exchange. So it is safer to put in our wallet than put it on the exchange directly if there is a gross indication of the currency that we got earlier. Preferably more careful than our money is just lost because in the freeze.

This is old cases, some people use crypto exchanges for illegal purposes such as drugs and gambling. This time exchanges take respond by freeze account to get real information about source of the money, need to doing that to save the exchanges from money laundry. Safety become priority for exchanges and KYC is the answer, maybe they will lost many member but for clean and good reputation it's worth.

but it breaking all the principles of decentralization. it shouldn’t be so that you can lose your money because they have some kind of dirty story.

I agree that we must store our Bitcoins on our own personal wallet. Storing some Bitcoins to exchanges like Binance is also like investing it and being ready that it will be gone of something bad happened. So be it, we cannot question their motive why they do freeze some accounts that are suspicious and I think if they can justify that then they have all the right to do that.

The fungibility of your coins is really what is at stake if you choose to hold your coins in any third party wallet or exchange.

Especially when you could have absolutely nothing to do with what the previousr owner did with their coins, but you are the one that gets flagged and your coins seized due to the fact that your coins may be not mixed properly or simply due to an exchange's suspicion.

You don't want that to happen to you, despite how remote the possibilities sound. Just store your own coins in a wallet which you hold private keys to. It's as simple as that.

People far from technical knowledge who find it difficult to deal with the BTC Blockchain would not agree with you. It's not easy for them.
And why a person who came to this market to invest in BTC should lose his coins just because the previous owner of them was, for example, a drug dealer  ???

This wouldn't matter much if a cryptocurrency is fungible.
Afterall, tainted physical fiat currencies are in circulation & probably in the hands of most people who handle cash.  If you take away this feature of physical currencies, most people's funds will probably be frozen.
I guess freezing shouldn't happen once a tainted coin has changed hand several times. If holding such coins makes anyone feel guilty, mixing may help.

If that is the case then we could celebrate for that freezed BTC as happy as how binance is celebrating with regard to the frozen BTC, in which for us will be hodled there for a long time. But in the case of the owner of the BTC, this is devastating. Most of us just trade and if we trade with someone not reputable, frauds to be exact, and our funds become frozen, I do not think it is our responsibility to bare the lost, it is quite unreasonable right? What I could advise is when we are dealing with somebody here with a huge amount or somehow doubtful, we could freely utilize technology service such as mixers to make sure bitcoins will be clean since in the first place we know in ourselves that we are doing legal business here.

You are right buddy, people get worried about miner things and they get worried when someone suffers lose from the investment they have. It’s wrong we should know that every person has their own luck and they have a different mindset so not to underestimate anything, invest your money it will give you double profit in few months as well.

This is alarming. Although the platform are trying to prevent or they are keeping away those people with potential illegal transaction. Although it directly affect us it is still essential but what if you have been accused and you have nothing to appeal with since you aren't aware where your coin came from before you obtain it. Either way I don't see that binance would take an action with this because they would be surrounded by such dirty coins when they remove it.

I agree that we should hold our coins and money in our hands, 1 month ago approximately i used a service that store money and can send directly from there, i had some money there not a lot and they temporary block me and asking for documents and screenshoot about my withdrawal from another website to them, i send all doxa, but they still saying me that account is under review and i will can't use my money until they finish it, so never can't trust any online service to hold my money there, well i use that to pay bills and other things online and to not go to local and wait a lot and also because of holidays, but i will never trust them again.

for long-term holders they can keep their money in personal wallets for a long time, but for most traders they cannot keep their money in their wallets and stop trading. I think these incidents are rare, and the exchange will have appropriate policies to avoid affecting users

Please keep the money in your wallet without giving it to anyone else to keep or borrow, ... this is not safe at all. Everyone must be very careful. You can lose money anytime if not careful.  >:(

Basically if you just want to save for a long time, certainly don't save in exchange. Because the risk is certainly very large, we never know the exchange concerned is experiencing problems with hacking. Of course our funds will disappear, unless we just want to trade. Certainly not a problem to keep it in exchange, because the time period is not too long.

yes, and it is important for anyone who has a large amount of assets or coins not to store too long in exchange, because it is very risky for you. I personally never keep coins for too long in exchange, I prefer to keep or use a hardware wallet (if the amount of assets is large) / web wallet (if the amount of assets is small)

Instinctively, I have always believed the best way to keep your profit is in fiat or an offline business

Buh, you can use the stable coin options as well
And store your wealth in your private wallets, not exchanges wallet

If you want to save your money in hands you need to stay with the fiat currency usage alone.
At the same you are in Cryptocurrencies means you can go with the online mode payment and internet usage only buddy. If we want to save money and we can go with crypto payment.

Keep holding assets in our hand most safety than holding our bitcoin and altcoin assets in exchange wallet, very year we got many exchange market have closes their exchange account and website because got hacked and not responsibility whit investor money and you have hold your assets in your hand.

actually the convenience that has been provided by crypto very much helps with the ease of the transaction. but it must be remembered also that not all countries can accept it because of the limitations of the internet network, so there are still obstacles that cannot be resolved and it takes time for that. so the use of fiat is still very widely used.

but as far as I know, each country has different revisions or regulations and not just because of the limitations of the internet network, some of which are like world restrictions on cryptoqurrency and limited knowledge about the crypto industry or blockchain technology. but talking about Fiat doesn't seem so familiar to them, in fact many companies use Fiat to transact and of course it depends on their needs too. On the other hand, it is likely that cryptoqurency can also be used as a transaction tool in the future.

It has never been a good idea to store all your money in an exchange, it’s always best to keep it your private and the ones that are meant to be in your exchanges accounts are just the ones you want to trade with.

Any money stored in an exchange you’re no longer in full control of it, because the exchange can block you from accessing your account on their website and you will just lose that money. And for this case you’ve reported, as long as it’s a good exchange if you’re able to prove how you got that money I believe that they will give it back to you. And such can’t happen unless you were reported because a dirty money was traced to your account.

Things are taking different turn in crypto space now, very soon there will be no need to move your coins out of your wallet to any exchange for trading, it will be done in your wallet, few wallet support this but the exchanges are swap like changelly

Besides being unable to reach all regions, many governments from various countries have not been able to legalize cryptocurrency for various reasons, such as money laundering, terrorism, drug possession, etc.

That's right, and that's certainly known to everyone in the crypto world, because no one wants to give their assets or wallet keys to others, unless they are really stupid in their thinking.

Yeah me in personal never giving away or even tell anybody in my circle (friends, family, etc) about the cryptocurrency that i possesed because there are so many things will happen if it's all about money. So we better keep ourself and place our wallet in a safe area that we are the only one that can access it.

Our biggest mistake starts here: using centralized exchanges in the decentralized system.
In terms of safety you may be right but think about the other side. If you die in an accident, will not there be someone to access your wallet. The funds you have collected for years will be buried with you. Think about it without wasting time and teach everything to the person you trust.

That is the only consequence of being too private when it comes to money. I agree with you, telling or teaching someone very dear to you about crypto will be better to at least have someone can benefit what you have when your time comes or when you die. That way, every hardworks you did just to earn your assets won't be put to waste.

Better not to store coins in an exchange for the security purposes. Even you have your coins that support swap changelly never store a big amount of btc. There an instance wallet may hack so let us be careful holding our money. In the exchange we cannot control our funds so having a wallet we have access on it is good.

Yeap,its true(universal truth).without key coin is not yours.Exchanger always Risky to hold.if you don't own private key you don’t own the coin.I think exchangers and banks are same.Because exchanger and bank both can hold your money. So it’s Better to own key and hold coin others you can face horrible situation.               

The question now do we have traders in Binance that experienced all of these, this is not right, they cannot just freeze accounts just like that without strong valid proof that the Bitcoin they send are dirty Bitcoin, in the past, they have some accounts limited, because of some questionable deposit, but if these are legit traders who do not know about this, this is really bad, for traders.

but I still always hesitate with the exchange because I feel the risk of loss continues to haunt me. I am more comfortable with a personal wallet to store assets even though the risk is still there. but for daily trading, I always leave my money in exchange for buying money assets.

Putting in exchanges is really risky, that's why I do is when I know I will not be active in trading I remove it in exchanges and put it my hardware wallet or transfer in my mobile wallet so I can monitor it. Exchanges are prone to attackers of hacking or scamming so we need to be careful but we also need to risk in them sometimes to grow our money. Banks are no opportunity there is now way to earn from them unlike in exchanges when you know how to trade.

if this case develops, there must be a lot of threads appearing now, especially on reddit, but I don't think so.

only a few accounts violate the rules in the singapore binance branch i guess, and even then related to the alleged use of money laundering services, it's a bit confusing but they forbid some services that aim for privacy of assets. so no account is frozen for no reason that violates certain conditions.

Honestly, it is a very risky thing to do both, if you hold it online and in some exchanges wallet for example, you can lose it when exchange gets "hacked" or basically does an exit scam which they do pretty frequently in crypto world.

However, if you do not want to put your money into someone else hand then you are risking to lose all your money yourself as well. You can put it on your computer and your computer could broke down, you could put it on usb and you can lose it, you can have a hardware wallet and lose that as well, basically you can do whatever you want that keeps your money with you and I can find a way to get that money lost as well. So whatever you do, there is always a risk of your money being stolen or you just can't find where it is at all times.

Even with the personal wallet and if you are still visiting the suspicious sites and you will get very big risk to be affected by the malware. I personally try to create small hardware wallet from a new flashdisk and that's working to secure my money. Just try to use the paper wallet too as the best thing to backup our wallet.
Everything must be done to secure our money.

So you mean that you can buy BTCs that are not exchangeable? And if you use some mixer? Or all Bitcoins that come from mixers are tagged?
I do not understand why there are bad and good BTCs, BTC should be BTC. I understand that "bad" BTCs come from hacks, but still it is BTC and when you are an ordinary person, how would you recognize that it comes from illegal activity ?  ::)

It is one of the reason why i don't trust every wallet and i am so picky in using wallets because some exchange still controls you in using your funds like this kind of situation in binance, that is why it is better to only use a cold wallet in storing your funds to keep it safe to other people.

It's really the best to ensure that the source of the cryptocurrency is trustworthy and legit. And as the line between freedom of crypto and regulation are getting thinner, this sort of issues are becoming more common and prominent. Hopefully, this can still be resolved in the near future.

Yeah we must have some trust worthy person on our life that can have control over our wallets but if we will share about our wallet with others then they can cheat us. Having your money safe with you is the most important thing. If you want to share then tell only a person you trust the most that must be from your family.

I am not sure whether someone got their accounts frozen because the coins were tainted. If it is illegal then they have the authority if they have a subpoena from the authorities, other than that even these exchanges does not have the right to hold anyone's money. When the regulations are active and if you are holding bitcoin from tainted sources then you might get into trouble and it is a real possibility that these tainted coins will get you in trouble .

Unfortunately, exchanges can use the excuse of dirty bitcoins to freeze the account of any user, obviously and only an excuse and I think they do it randomly with those who have large capital on the exchanges, in my opinion bitcoins are all the same as the money depends from the use that is made of it but the end user cannot be accused who is unaware of the previous uses, however the advice is valid, do not keep anything on the exchanges just do your transactions and then move everything on a personal wallet...

Good thing that I have not been storing my assets into any exchange since then because I am just storing it up into my online wallet or hardware wallet. I am just using any exchanges whenever I have decided to trade my assets to turn it into profit. But, is your statement have already been proven or is just a temporary malfunction on the system or just an allegation? Because if that was not true, the credibility of Binance which you have mentioned will be at stake. But you do really have a point that we must keep our assets in tack within our hands like storing it into your preferred online wallet or even into a hardware wallet on which is suitable or convenient for you to be used. Upon choosing an exchange, be sure to read the terms and conditions and secure that you have already know how to use it properly for convenient usage. Also secure that you choose your exchange wisely and that you are diving into a secure site to protect your assets.

There are different people that use bitcoin and other crypto for different use. If you are holding, keep it with you. If you are trading you need them on exchanges. DEX haven't reached the efficiency of centralized exchange. I did tried day trading on some dex but I had at least one issue on transaction everyday and needed to start a support ticket everyday. That just stops the flow of my trading script. That's why centralized exchange is necessary for traders.

Investors and traders should be aware of where they are getting their Bitcoin, this applies if you got your Bitcoin from a peer to peer transaction but if you got it from a trusted companies and you have a record of your transaction, there is no zero why they will limit your account, or you can defend yourself if they do limit your account.

Most money that binance exchange freeze are illegal or fraud money, this advice is only for those who aren't 100% clean or are involve in illegal activities like scams and money laundering, its really a good thing if they froze any bitcoin that looks suspicious

The best course of action is to buy from a trusted bitcoin seller like Coinbase and not engage in transactions especially P2P with the huge value of bitcoin. And if we have no plans to buy bitcoin or trade in the exchanges we better store our crypto currencies in hardware wallets or in wallets where we hold our private keys.

the fact is that any person who deposits his money on the exchange can be suspected that he does not have a “clean” bitcoin on his balance. And they can investigate an infinite amount of time. The exchange will only do what is beneficial to them and they don’t really care what bitcoin you have on your balance is “dirty” or “clean”

Not your keys, not your wallet. This is something that's been said for about as long as I can remember, and it's something that will remain true as long as people are still actively using cryptocurrencies. There's almost zero advantages to storing your coins with a third-party service in most cases (and especially exchanges), and I guarantee that you can store your coins more securely and effectively with a bit of common sense and a hardware wallet or just your computer.

It's not even just with 'dirty coins' either; a lot of exchanges have been and still are being hacked to this day, and in many cases the impacted exchanges do not fully reimburse affected customers. Crypto gives you a whole lot of freedom with your money, and you're the bank, so always be watchful about your funds. Don't put all your funds in one wallet.

Absolutely.

And what is meant by 'in your hands' is that you need to hold the damn private keys. So many people think that withdrawing  your coin holdings from an exchange to a hosted wallet is enough. No. A hosted wallet service can do the exact same thing to you - freeze your account without any chance of recourse from your part.

Do you really want to have to deal with all the KYC/AML procedures that are completely over the top and draconian as a regular user, once your account gets frozen? And even if you do, there is a chance that you won't ever get your funds back.

It is never a good idea to keep money in any exchange no matter how good or legit the exchange is, I learned my bitter lesson last year when cryptopia did away with my huge Electronium

Maybe they are proven to have criminal records in those acocunts? We shouldn't judge what they are doing without enough context. I mean they are over the counter dealings, meaning they might have done with those dealings that they are deemed suspicious by Binance or by their local place. I think as long as you are not a shady person, you'll be safe from all those because Binance is one of the most reputable exchange out there and they wouldn't just ban their users because of petty reason.

In a word, we put money here to benefit from being fully traded. That part of the profit or the whole of it comes into my hands, that is to say.

We put money here to benefit from being fully traded. It is never a good idea to keep money in any exchange no matter how good or legit the exchange is
. I recommend you hold your money ONLY in your own wallets! so BE careful and BE Happy .

To be sincere, nothing beats the feeling of knowing that your funds is at your disposal, at your own care because you can better manage it than leaving it on some exchanges and surrendering all rights to them. Also, owing to the fact that exchanges can't be trusted neither are they 100% secured from hackers, I don't see any reason why anyone should store their funds on exchanges. Personal wallets with private keys is the best no matter what.