Bitcoin Forum

Hello everyone,

I would like to share my story with the Bitcointalk community, in order to notify you that anyone may simply be scammed by Binance exchange with no access to their funds.

To begin with, I’ve created a Binance account this May for arbitrage trading via their API through the bot that I’ve made. I’ve made a few large deposits and was trading for about 3 months using the arbitrage strategy for some time. My total balance was around 1.2K BTC (bitcoin veterans know how it’s possible) at the beginning of September, and everything went pretty fine until the middle September, when I’ve received the message claimed that my account was blocked because of the several suspicious login attempts, which confused me a lot. My account was protected by a very complicated password, 2FA and the email that I’ve never used anywhere else.

I’ve contacted Binance support as soon as I’ve noted the message from them, in order to clarify this issue. They have asked me to verify my account and pass a KYC (my account wasn’t verified before), in order to prove my identity and show that the name that I’ve provided with them matches with my real name. I’ve provided them with the documents, but during our negotiation, they have changed the reason of blocking of my account to the “internal investigation process.” As for now, my funds are locked by Binance, and every single time when I’m reaching them out they keep telling me that my account now is a subject of the investigation, and that I have to contact the local law enforcement if I conduct the reason of block unwarranted.

Surely, I’ve already contacted a lawyer, in order to speed up the process of getting an access to my funds, however, I still can not find a reason of this block by Binance. Anyways, this message is a notification for every trader that one has to avoid he exchange, if they want to have an access to their funds.

P.S.: Funds are not SAFU, guys.

Can you provide your BTC address of deposit for reference to total amount? I mean with that much BTC in an account, I would be appreciative of the extra caution before just releasing the funds.

Can you provide a binance support ticket number for reference or responses from the support staff?

You cant withdraw more than 2 btc a day without KYC... why would you be able to access 1200 btc without it?

First thing I notice that how can Binance able to make deposit huge amount without getting KYC. Thread looking some fishy.

I object that without KYC Binance not offer higher deposits as well as withdrawals.

Sure, I have provided Binance with all the necessary data. Actually, I won't post my BTC address here, in order not to make it visible for everyone. This post is mainly a caution for anyone who will see it.

Do you have an experience in such situations? I mean, I'd be glad to provide you with all the data in PM, if you do have such experience.

Hey, just try it out. The account should be verified for high withdrawals, but not for the deposits. They just can not check the amount that you're going to deposit, as you're making it from your external wallet or any other sources.

1200 is really a lot. i would cry myself to death i anyone hold my account with such wealth. i have few BTC which i just place on binance in case of something turn out to be a good coin to invest if bullrun suddenly come. i have no problem with them but maybe because its not that huge like yours.

don't you think that bots you created login from different servers to compare price of different exchanges which cause this alarm to them?

It doesn't look serious or even untrustworthy, showing your deposit address may be better for digesting your problem, I'm a trader there and everything feels safe, nothing is excessive, I also think if you complete KYC I don't think it's difficult to withdraw some of your BTC, maybe you forget to read the rules or just make a little joke here, if indeed it's true I don't think it's enough to tell a story without sharing evidence

You have proof that this, 1200 Bitcoin that kept on the exchange is also a big member. Should consider and discuss with Support before posting to the Forum

I really hope that such will never happen to your Binance account. I know that one has to keep the coins on his end, however, I had to keep them on the exchange platform for the trading needs.

Well, I also had some concerns about the logins made by bots, however, according to the logs, bots were inactive that day and a couple of other days. Anyways, they have changed their decision to the "subject of the investigation" after I have provided them with all the necessary data, which doesn't make sense at all. And they have also advised me to contact LLE, which finally confused me that much.  

I'd really be glad to withdraw the coins (at least a proportion), but I can not, as my account got blocked, and the coins are held by them.

https://imgur.com/a/UTk57hZ

Contact technical support and send them a telegram ! I do not think that one of the best exchanges will spoil your name !

this is the part that makes some of us have some doubts
how did you manage to arbitrage in those 3 months without having verified account?
with unverified account, you would be able to arbitrage only 2 BTC every day (daily withdrawal limit)
even if you have a good arbitrage trading bot, any balance over 2 BTC would be a waste without verified account
and you said your balance was up to 1.2K BTC, makes everyone wonder why/how such high amount

Sound really strange that a Whale take part into a bounty campaign (and disclose his identity for few $ cents)   ::) ::) ::) :

https://bitcointalk.org/index.php?topic=2642310.msg27546553#msg27546553

I think this guy are trolling us.

Sure, I did it. I'm constantly talking to them, but still haven't received any concrete answer.

I think a lot of friends in this forum will help you with your problem but it's a good step if you also provide evidence, because I think this is a big problem but if there is no evidence maybe people will make you make a joke, the nominal 12k btc is very large and the account you are not verified?

Hah, sure, this account seems very strange. I haven't had a bitcointalk account before, I've bought it, as the account I made a couple of weeks ago was forbidden to make posts  :)

Are you sure ? Prove it that you own 1200 btc or you will be accuse to destroy company's reputation.
You should learn before try to deposit so if you decide to deposit with massive amount, you must to prepare the risk if this is happen !

So, you paid for buy a Bitcointalk newbie account????

Are you kidding us?

Wait what? You bought a newbie account just to post your issue with Binance?  That's just weird ;D

Anyway, back to your issue, I can't understand why you never verified your account knowing that you had such a lot of BTC's. I, too, would suspect that you are doing something else and blocking your account is the best solution.

There must be something wrong, you should contact their support i'm sure they will help you because as long as i know binance has a really great service.

Thanks for sharing your story. Binance is a very serious and reputable exchange, so I wouldn't go that far to call them scammers. In your story you provided them with KYC, which a very good move of yours, but an account with 1200 btc is just an account with a very big amount of money. They probably have to go into investigation to make sure this money is not involved in any fraudulent activities. It's very weird that they ust say it's under investigation, but the others are right that you should provide more proofs. I saw your video, but could you also provide a proof that the support keeps answering like this?
I am sure that if you did nothing wrong, you'll get your money back. Take a look at this article: https://cryptovest.com/news/kraken-binance-gateio-under-fire-as-ny-attorney-general-suspects-unlawful-operations/. They are probably afraid of the authorities and try to show they're doing their job properly on accounts like yours. You can open a scam accusation against Binance meanwhile with some proofs of your words. This way you will make a difference by both pushing them to give more direct answers and by proving that they are scammers if they don't resolve this matter.

with these facts, it is obvious this post is a false claim, the author just want to cause traffic to his or her thread, this kind of post should be discouraged as this can create a bad image about binance. watch it guys.

I agree entirely

Heard about this story on reddit a while back

this has happened to a person on there since I saw binance staff answering about it

if this is the same guy who can know for sure

either way if it is true they have locked down his funds even after he has proven who he is and where they came from ( all major exchanges apparently) then that is very worrying

Post your issue in this section:  Scam Accusations (https://bitcointalk.org/index.php?board=83.0)

Scam Report Format (Use it to make scam reports properly) (https://bitcointalk.org/index.php?topic=260073.0)

you say that:


and this:


This post was made on September 20, 2018.

- What was the day your account was blocked?

- Why would you keep 1200BTC in an exchange? This is a very high value.

Interesting story for sure, but there's something fishy.
To many weird stuff here, buying newbie account only to post this is ringing the bell...
Why???

1200 btc??i cant believe on my eyes but if binance blocked your account then its really sad.you can take help from john mcafee .mcafee can mention themselve your issue or wait for binance authority to solve it.
and yes exchange is not safe to hold fund.

The very main point of this story is This is a fake Story build up by OP to troll his postings for his thread.

Today opening account in any exchange you need to fullfil the KYC requirement and their is limit of transaction on each account according to the level they are enrolled.

Op is giving details that without KYC he was operating Arbitrage trading with 1200 btc, Which is highly impossible as everyone is aware that their is trading limit to all exchange trades.

Even if OP is true but he is not able to give his innocence proof. So i think now it is waste of time to troll this thread.

This situation just indicates how fragile and unreliable cryptocurrency. Dangers to our wallets and accounts exist everywhere, and just keeping our cryptocurrency in cold storage does not always make sense.
It seems that here the employees of this exchange are trying to force the holder of 1200 bitcoins to abandon them, once sent to law enforcement agencies. Practically, they have no reason to block the account. Hopefully this misunderstanding will clear up.

2 possibilities:
- this is fake
- OP is dumb person for keeping 1200 btc (currently $7,680,000) in exchange.
Give us your deposit tx id

If I have that much of bitcoin earned from trading, I won't  keep it on exchange because that large amount has big possible to big risk and everyone are looking. That is worst experience of yours, you put all your time for it to earn and now you cannot get it. I can say that exchange, even how secured you make, there still people who will do everything to get passed on it. Hopefully the exchange support can do everything to unblock it.

Wooww. You own 1200 BTCs and you sent all of it to Binance? What were you thinking about doing this? Didn't you know about the paper wallet? Or the hardware wallets.

Are you joke, why binance want to block your account, I am not sure you have 1200 btc in your binance account, maybe you want take many reputation and make Binance exchange will be lower interested by investor to exchange and listed coin at there.

If this is true then talk to binance support, they will resolve it.

Why you deposit 1200 BTC without passing KYC? In binance 24 hours withdrawal limit only 2 BTC if you passing KYC than 24h withdrawal limit will be increased 100 BTC even they mentioned for higher limit you will must be contact binance support.

Asking help from McAfee won't increase the chances of getting his BTC back. Waiting is the only choice OP has.

He already did. After reading the comments on reddit, he surely got scammed since he doesn't want to show the full details(header) of the email that was shown in the video. OP should be grateful that Binance didn't gave away the 1200 BTC to the scammers now that they have the necessary proof to claim ownership of the account.

Reddit threads for reference

https://www.reddit.com/r/binance/comments/9ksb3n/continuation_my_binance_account_was_blocked_4/

https://www.reddit.com/r/Bitcoin/comments/9j27r2/my_binance_account_was_blocked_3_weeks_ago_and/

There's something wrong in your scenario it is either it's your fault or the system of binance. it is really weird that you didn't do any KYC security before entering that big amount of bitcoin. What you are doing right now is correct, get some advice or ask some lawyers how can you solve this problem.

May be He did not deposit all at the same time or He got it through trading. The funny thing some exchangers does is to allow you to deposit but it is when you want to withdraw all the rules will pop up. Though there is no exchanger the will allow such massive withdrawal.

Maybe it is because you have a large amount there and not filled in the relevant KYC documents to be playing with such a great amount? I have traded on Binance, although my account is very small and I have never had any problems. I do hope you manage to unblock your account but having such a large amount of Bitcoins on any given exchange seems to me to be extremely risky in the first place personally speaking.

I don't know where you young people are in my environment not all addicts and fans of marijuana... A lot of guys are active, involved in sports, many in school, some business independent.

no, I don't have the amount you have. to deposit and withdraw at binance, must go through kyc and indeed there is a limit to that. So have you gone through it all?

1.2K BTC is surely a big money. Wow. I have an account in binance and I heard a lot of good things about binance and then I read your post and I was shocked. When I read the title, my first thought is "for sure someone tried to open his account that is why the exchanger addes its security" but since you said they change their reason, hmmm I don't know what is going on. But I hope the investigation will end soon and find out what really happen so the account and the btc can be back to whoever it belong.

Guys, I'll try to answer most of the questions in one message:

- Yes, I really was keeping 1200 BTC on Binance. The reason that I was keeping too much coins there was an arbitrage trading. Surely, no one has persuaded me to do that, but I do consider the fact of blocking of my account unwarranted.

- Binance (or any other exchange) doesn't have any limits for the deposits, only for the withdrawals. Moreover, some of the exchanges (mostly Asian) require verified  
accounts for withdrawals, even if you are trying to withdraw 1 sat.

- I have already contacted Binance support a lot of times, but still haven't received a proper feedback (see the video that I've attached on the 1st page of this thread).

- I don't have any reasons to attract more attention to my persona (this bitcointalk account, as mentioned above, isn't even linked to my identity) or to scam Binance's reputation. As I've said earlier, all that I want is to notify users that Binance may just lock your account without having an access to the funds. Moreover, I do consider that Binance may speed up the process of unlocking my funds if I continue making such posts.

I would like to thank the guys who have advised me to contact some influencers (such as mcAfee) and shared the posts about unlawful operations suspected by NY attorney.

I would also like to know if there's someone who was also blocked by any cryptocurrency exchange, and how have they unlocked their funds.

..as far as i know,,binance is a very legit and trustworthy trading site..i also have an account on binance and i think that there is nothing wrong on it..truly, 1200 btc is a big money..if you have any accusation on the part of this site,,then show us some proof..but in your part,,if i had to put myself in your situation,,maybe i would cry a lot and lost some hope in losing my 1200 btc..i hope that this situation will resolve soon..

Wow just in arbitrage you make 1200 bitcoin woah but dont worry bro you will get it not now but soon, and better to pass kyc to know your identity and if you have huge amount bitcoin like that better to transfer it rapidly in cold storage or paper wallet for better safety dont put it in exchanger.

Erasmuss, most of users here can hardly believe in two things - that you have 1200 BTC and that you keep them on exchange. For me it is really unthinkable to entrust so much money ( some 7,700,000 $ ) to crypto exchange - in fact it was not your money since you did not have private keys. So this is something what could happen at any time on any exchange since they have the ability to freeze funds at any time and block the account.

In any case you have the right to fight for your funds in all possible ways, and creating public pressure on Binance is logical thing, so you should use all available social networks and ask them to explain what they are doing exactly and when will this process be completed.

What I would personally do if the situation is not resolved in a reasonable time is to take the lawyer and go to Binance headquarters.

My first question is that, why should you send such a huge sum of Bitcoin to an exchange platform? Moreover, Binance has limit on the amount of bitcoin to which you can deposit or trade on their platform at a particular level. I hope you didn't just made this story up and spread some kind of speculation.

It is huge money! When i calculate 1200 BTC makes $7.8 millions of dollars! Crazy! But as you said without the KYC procedure you just can withdraw 2 BTC daily. So how could you made it without KYC?? I wouldn't believe whathe says i am sorry. Also it i have 1200 BTC i would never save it just in one exchange i would spread my risks. So there are something wrong with him..

This is why never put all your funds or btc in the exchange with such a huge money. This user must make a report to the support group of binance exchange. Their must be an investigation for this kind of report that acct was blocked.

The amount you have said is very big and if you can share that address and a document which evidence of belong (although not necessarily), it might be possible to believe it. Also, how did you invest and wonder why? As far as i know, even approved accounts in Binance can not withdraw/deposit more than 100BTC. Wow, 7.680.000 USD.
Firstly, I would never trust any exchange to deposit such money. But, if I had this incident, I was on the way to the head office.
But if you lie, you'd be badly hurt by Binance, which is a great accusation and may harm Binance's image.

There is just one thing that is the most fishy here. WHO IN THE RIGHT MIND WILL PLACE 'ALL OF HIS 1200' BTC IN A REGULATED EXCHANGE? I'm sorry but your story just doesn't add up. Three points to sum your suspicious claims.

Point #1. You registered and traded with Binance for 3 months, lets say for a daily basis, without even passing a single 'verification' they had while I a newbie have at least level 2 on my account. I don't even have that any large amount but binance requires you to secure your account at the very least.

Only 'stupid people' would consider having that large amount of BTC in a regulated crypto exchange, knowing that Binance is under China's legislation. All of its undertakings are under great eyes so the traders who chose it as a platform shall know that they will be facing stricter rules versus any other platforms out there.

Point #2. Who would buy a newbie account just to post his problem with Binance? You could've just went ahead with your lawyer doing his job since you're paying to do his job right? It won't be easy yes but you have to be really careful about these kinds of post because it will backfire to you since 'you KYC'd' for the site. It will really go bad if you don't think that is, or is your lawyer so stupid he did mention you to do this?

Point #3. I empathize with your story but to think you have to post it here, and in the very wrong section at that, it doesn't ring right in everyone's critical thinking here. :) Plus the conclusion you have lol. How come it is not safe when the support just asked you to 'secure your account' haha. You make us laugh here.

TLDR; Go on and have a talk with your lawyer. HE KNOWS BETTER THAN YOU IN THIS KIND OF SITUATION.

You have 1.2K BTC in Binance without a KYC - this thing is fishy here.

This is the danger of centralized exchanges. They can always find a way to freeze the user's funds under a far-fetched pretext. Whatever the stock exchange, there will always be a risk of its being hacked or cheated by the management.

making threads like this is so good that you can get help from other members, but you have to include proof that what you say is true, but you better contact those who are related to your problem, I'm sure bination will help you if you don't make mistakes .

I read many doubts about your story. To add credibility, can you sign a message from an address holding large funds (either now or in the past), and PM it to my main account LoyceV (see my signature)? If it checks out, I'll vouch for it without exposing your address.

     I can not believe it. It is absolutely revolting what happened to you. 1200 BTC is a huge amount of money. Binance is a huge platform with a top name on the crypto market. They have to solve this problem because their image is suffering. Try contacting technical support. It has to give you a response and a solution. It seems to me wrong that you did not verify your account, especially because you had a huge amount. I hope you solve the problem either amicably or in court judge, but I guess you have your part to blame. I'm shocked by the read message. Good luck!

That is a huge amount. Anyone would have gone crazy if their access to such huge money gets blocked. Thank you very much for the warning. Investors will noe be bale to avoid that exchange to protect themselves from such situation.

This is a big amount of BTC
Binance blocking such wallet account, there must have been a suspicious transaction or sort of on the account. I binance is one of the most reputable exchanger crypto market has gotten and won't have done this on bias or sort of theft.

I will like to enjoin you to open a support ticket to there support team and logged your complaints.

Oh my good ..it is a big amount of btc .binance is a popular exchange. I like and support binance very much.i always exchange my favourite token in binance.but you blocked your account is really big problems.please reports on binance.

As I read the discussion about this thread some of have a point because every exchange have rules and limits of deposit and withdrawals per day maybe you put your BTC by dividing per day and save it for long time but I think binance have no rights to hold or block your funds because it's yours and like you said you trade to that exchange for a long time why this time they do that you you?some thing fishy but much better to fix it in legal and in right.

That same question i have in mind mate,because 12 thousands bitcoin is a huge amount just to put in exchange without KYC ,i believe this is same reason why binance are investigating about your investments

Even my simple brain asking about fishy thing on this matter but I don’t wanna give false judgement but i hope OP will be cleared on this one

check op previous posts and you will be sure he does not have that amount of btc ::)

Yep the claim is just too shady too. Especially him holding 1200 BTC and then he buys this Newbie Account to create this thread. I will see this might be some kind of a marketing scheme for an upcoming exchange. If he can provide at least a very good evidence about him holding that 1200 BTC in Binance that will be good enough. Surely, his lawyers know better :)

it doesn't make sense if we read binance rules to enter and not do kyc, 1200 btc to enter an account without doing kyc beforehand is very unlikely, my experience registering bination has been set up to verify the account, I don't believe this news, binance is a great exchange with rank 1 as the highest volume, the problem in this story is very damaging to binance image

WOW that is really huge, fist thing first! you should seek for customer service for you to be assisted.
then do the precautionary measures.
after all they are the only one to help you or can help you in this situation.
just be a mankind to them and never to loose temper.

I think he is not familiar in this forum because if he is an old timer here he would rather create a copper member account to make a post. Back to the topic, I've been trading in Poloniex and now in Bittrex for sometime when suddenly Binance came. I just hope don't understand why I have this gut feeling that this platform is not safe.

Your claim sound suspicious. Why are you afraid of posting your bitcoin address for us to verify your claim but you need our opinion. Binance is a reputable exchange and I smell that suspected you of bad faith of having such huge btc in an account without a proper verification process to know you.

I believe that you could provide the community with evidence of your proceedings with the Binance staff. Perhaps if you revealed any of the facts of correspondence, and it would have been publicized in the Internet community, it would help you to restore access to your account sooner. I don’t think that Binance is interested in spoiling their reputation among the bitcointalk community. After all, bitcointalk is the largest community in the field of cryptocurrency and there are a lot of traders here who also trade at Binance.

First of all are you seriously like real why why just why hold your 1200 BTC coins in an exchange wallet ? And second well you can always try to do the lawyer thing or travel to their HQ since 1200 is a lot of money. Also exchanges supects amounts like thses that's why use different accounts with different IP

The author sympathizes with you, a very large amount .. after this post I will also be very careful with storing my currency on the exchanges ..

I had a similar situation with Bittrex Exchange. I had to ask a friend who has access to the support group in the Discord. Only in this way the question was solved.

Just came back to see how  are thing going with Binance about your claim which is very fishy.

Have you clear proof about lossing your money, 1200 BTC is the big member I hope so if you have strong proof then you can contract binance support helping section.i hope you will get good consider answers and solve problems.

I am trading in Binance for a year now and did not find any issue in depositing and withdrawing funds, although my amount was not too big, If you are facing such issue, you surely need to talk to some expert out here and show him the ticket ids generated or chat done with support staff of Binance if you are not able to disclose your BTC address, 1200 BTC is a big amount and its very hard to believe for anyone out here, losing such a big amount will make anyone much depressed.

Personally, I have no negative experience working with Binanse or some other exchange, but I have repeatedly heard about cases of money blocking by exchanges and as a rule this was due to various violations and suspicious transactions.

I feel this entire post is one big troll let's take one fact at a time, if you have 1200 bitcoins do you come here to rant or simply focus on legal ways to get your money back. Then in his own admission he has to buy a bitcointalk account, and the rank he's brought is a newbie anyone could have made a normal account and posted it, if you're for real and have contacted a lawyer then ask him to deal with it cause no one here can do a better job. Also check this https://bitcointalk.org/index.php?topic=2642310.msg27546553#msg27546553 why would a 1200 coin holder participate in this lmao.

Are you really here to warn other members or are you just putting some dent on Binance's reputation? Either way your accusation will be much more effective if you have put some proof that you really held 1200 BTC in your Binance account, as simply putting an email of their help desk/customer support is not a valid proof, your account might be locked for some other reason which does not involve your alleged 1200 BTC. Other people are also saying the truth, why did you bought a newbie account? And I don't see any newbie restrictions here in this section? You are just making yourself not believable for most of the members here.

yes i think so.There is something went wrong. I got surprised cause it is huge amount of btc .I also trade on Binanace and its a great platform .I didn't occur anything like this .So i think you should contact with support welly .Hope you will find solution.

My friend got the same issue. He wrote a support request, submitted proof documents. After few days, he got unlocked

It is not much of a surprise that such big of a amount is going trough very high level of checking , any small detail could lead to their current actions. But since Binance is legitimate company and is based in Malta, I am sure that you will be able to access your funds trough legal means.

Will in ny own opinion about this issue in binance ,maybe there is something a different story thats never been discuss in this issue and why should binance blocking to access of your account,maybe theres a rule there in doing account in binance thats once you wrong to put a several attempt to unlocking your account password or  2FA its make to block your account and whole scene so in order to protect your acccount on hacking they need to contact the real owner of this asset,because binance based on my experience are a good exchange or otherwise binance can make trouble now on there trading site.

Thanks for sharing your story as i think it will be useful for everyone who uses Binance. I have never known that it is possible, for example but now i know it is like this and what to do?

I sincerely sympathize with you. Very often, the exchangers creates everything they want, thereby depriving users of at least some confidence in the safety of their funds ...

Yeah i agree with you mate it's unfair for binance sharing story without valid evidence
I am not binance user but i want to clarify do not make fake story to destroy the reputation of the exchange without contrate evindence

Firstly I have to ask, why on earth did you keep $7.68 million dollars worth of bitcoin on any exchange? Such large amounts will attract attention and if they have any reason to suspect everything is not one hundred and ten percent legit and perfect with an audit trail they will certainly  ask questions and freeze the account until they are happy. Good luck getting it unfrozen.

Thanks for sharing your story, I always thought that Binance is the most safe exchange for trading and even storing my actives. So if binance team have done it with you they can easily do the same with anyone. No thanks, I have withdrawn most of my funds

you are wrong It is OP mistake and not Binance As what OP is telling is not true as if you know about exchange rules then you will know that without KYC you cannot operate this much high funds for trading not even for arbitrage trading also.

It is always not recommended to invest high amount of coins in exchange as they are not safe and they get hacked lot of time. Only invest when you are trading and then withdraw it. dont worry about transaction fees as you investment will be on risk if you see the small transaction fees.

Hey buddy how are you today? hope you doing well, Anyways that 1.2k bitcoin is probably a big thing. If i will have those bitcoin i won't play that huge amount. Coz your going to take all the money from the exchange. I wonder how did you get into that exchange without verifying KYC

This is the reason that it is not good to keep our crypto currencies in the exchange even if they are famous and known trading exchanges that aside from this reason then exchanges are now the prime targets of the hackers in which our crypto assets are not insured in their sites. If your country declared Bitcoin is legal then you could ask the help of your government as 1200 BTC is a huge money.

Assuming your story true. Veterans should know to never ever put much funds on exchanges.

A person with 1200 pcs of Bitcoin like you participating in bounty campaigns such as Twitter and Facebook bounty?
Take a look at this
https://i.imgur.com/8cvj1TT.png


https://i.imgur.com/Ktz17Ix.png
LMAO, you're telling us here that Binance locked your account with 1200 Bitcoins and you're participating in bounty campaigns with 1200 Bitcoins on your pocket?
Stop trolling us in here even a person with 500+ BTC won't participate in bounty campaigns that give a few amounts of pennies.  ;D
You're just trolling in here and spreading FUD against Binance kid. ;D

His story isn't true just take a look at my screenshots on his account, and do you believe that a person hodling 1200 Bitcoins will participate in Bounty Campaigns?  :D

Lol, seems that this guy has nothing to do with his day .
I wonder is it worth reporting.. is there a chance that all this thread is deleted.

I'm a little curious, why do they do that on your account, is it possible to use trading bots. it doesn't seem like a good reason, I have doubts about binance exchange now

That is the reason why to not trust on every exchange the big volume of potential coin because that attracts everyone and think badly and be greed. Even strong security had been there when the develop has own interest on it, they will do everything. That is very bad experience because you put all your time to collect profit and then other people will get it. Hopefully, there is only wrong on the system and unblock your account.

This is really sad if this is really true, don't give up you'll get your funds back.

I don't know you are talking the truth or not but it's the truth that Binance support is very long drawn which I don't like. I like to trade in Binance because of trading volume but I don't like their support. Very slow and unfriendly which is unexpected to all user. Binance should upgrade their support to fast and friendly.

Hello everyone,

No news is good news, but not in my case. I still haven't received a feedback from Binance regarding the actions that they are about to proceed, so the situation remains the same. Funds are still locked, as I don't even have an access to the account.

I've never expected that my story is able to grab so much attention. I would like to thank you guys who sympathise my issue, and I do hope that the situation will be solved sooner or later.

I'll keep you posted and will share any updates from their side. Funds are not SAFU.

The Binance support team may also be cautious. I hope you can get your money back as soon as possible. But I must say that it is a very high amount to hold on a exchange.

Thanks for your support!

Hey, thanks for your feedback.

I'm not saying that Binance is a bad exchange, but the fact is they have blocked my account and now claim that there's an investigation. They still keep silence, while my money (btw, it's more than 1/10 of their trading volume) are kept frozen. I have no idea why do they still keep it frozen, as there are no reasons for that.

Exactly, I agree with you. But one has to keep such amounts on exchanges for the arbitrage needs, otherwise, you won't be able to proceed with transfers between the exchanges that fast.

The only advice you should follow (in the case you're not doing arbitrage) is to keep your assets on your end. It may be either hardware wallets or client-side wallets, or any other ways to keep your keys privately. In this case, a centralised exchange won't be able to froze your account, as well as the suspicious attackers won't be able to hack your account.

The only reason for keeping such amounts on the exchange is the ability for the fast trades. Surely, I am keeping the other funds on hardware wallets, but in that case I'm not able to trade via API.

1200 BTC? Really? This is around 7.5 mln usd by current market price  :o
If you using this amount for arbitrage...than I cant understand how you operated with this amount without KYC? Binance have 24h limit for just 2 BTC without KYC ....