Bitcoin Forum

Hi everyone.

I would like to let the Bitcointalk community know about the situation with my Binance account that has 1200 BTC locked.

I’m writing this post just to let you guys know how I’m doing while I wait.

I’ll spare most of the details but I’ll remind everyone just a little. A bunch of weeks ago, Binance blocked my account that had 1,200 BTC in it. I went through this long process to get it unblocked and nothing came of it. Binance wasn’t clear or open with me the whole process, changing their reason for blocking 3 times, ultimately settling on an “internal investigation”.

So basically, my lawyer has already started actions in regards to the account, and I still have hope but I’m also worried I’ll never get access to my account again. I keep losing money because Binance is just holding all of mine for no reasons. Moreover, not all of the funds on the account were mine, some of them were borrowed at interest. Being such a big exchange, I really can’t do much to fight them so I’m feeling quite hopeless honestly. I never had any other problems on any other exchanges, but with Binance, I’m having such a huge problem.

It’s a really weird place to be; I don’t know what’s going to happen and the uncertainty is awful. I’ve now been trying for months to get it unblocked to no avail; so much time has passed already and I still remain in limbo. It’s been such a stressful process and I’m still not sure if I’ll ever get my money back. I continue to suffer losses and it sucks. I’ll keep trying to get access to my account back and I’m just glad for everyone’s support and understanding. I also keep writing because I want as many people as possible to know what can happen with big exchanges so that you can all be cautious. Anyways,

To everyone that has helped me, I just want to say thank you and that I appreciate your support and help.

You have mentioned it yourself:



If you are not involved into wash trading or anything other illegal, you don't have to worry.

If you however are involved into shady things, this might take longer than you want it to last.

In the end, binance is a globally acting company. They won't steal your funds and risk their reputation.

Thanks for your comment. I do hope that the situation is going to be finally resolved, however, it lasts too long, without any update from their side.

This is infuriating. Legal action must be taken in order for them to at least give a definite statement as to why they blocked your account. If they are inconsistent on their updates, something must be wrong on their side and not yours. For as long as you haven't done anything legal or breaking their terms of service, you're good, but then again we're talking about 1200 BTCs in here and that's not a small amount to not be worried about.

And on a quick note, try to save a copy of their terms of services too, just in case.


One can never be sure these days, knowing that several 'reputable' exchanges have done exactly the same to their customers (Mintpal, anyone?).

--

One more thing, this should go to Service Discussion (https://bitcointalk.org/index.php?board=85.0) for appropriateness and more visibility towards service-related issues and concerns.

I know their CEO CZ is quite active on Twitter and has responded to unresolved issues before.

You could always try to send him a message on twitter to https://twitter.com/cz_binance or hashtag @cz_binance and he will see it

He is also active on linkedin, you can try send him a message here: https://www.linkedin.com/in/cpzhao

If you need help contacting him I have a direct link, but hopefully your issue will be resolved.

/KX

You'll surely get your money back once the investigation is done. I just don't know why these guys are locking your account by just having that large number of btc. It's not reasonable. That's your accumulated wealth and they don't have the right to just freeze your account because you have those. Hope that you'll be able to get back your account and all of your btc and have a Merry Christmas!  ;D Just think positive!

Hi dude, I wish you good luck to get this back!

I had some issues with Bittrex and Poloniex in the past since then I stopped
I had never bad experiences with Binance,

you need to understand that this amount is very high, we are talking about 1200 btc this converted into fiat would be $4800.000, of course they will want to know where you got so much money and why the hell would you leave such a high amount on an exchange? ok you are going to tell me is Binance, but even binance is an exchange that  you should not leave too much bitcoins

So you've posted essentially the same thread multiple times, and you've also posted the exact same thing to reddit multiple times: https://www.reddit.com/user/skilledguyfx

You've had replies direct from Binance support multiple times as can be seen here (https://np.reddit.com/r/binance/comments/9ksb3n/continuation_my_binance_account_was_blocked_4/e72zl8r/), here (https://www.reddit.com/r/CryptoCurrency/comments/9lcn2l/12k_btc_has_been_blocked_on_my_binance_account/e75ny7r/), here (https://www.reddit.com/r/CryptoMarkets/comments/9na6k9/my_1200_btc_locked_on_binance_for_more_than_a/e7l0i17/), here (https://www.reddit.com/r/CryptoCurrency/comments/9n9442/my_1200_btc_locked_on_binance_for_more_than_a/e7kl2la/), and here (https://www.reddit.com/r/Bitcoin/comments/9t8pf4/binance_issue_blocked_account_with_1200_btc/e8ulvk1/).

As Binance have told you multiple times, you are currently being externally investigated for suspected fraudulent activities. Binance have no control over the speed of this investigation. They are also legally not allowed to disclose details of the investigation. This is all outlined in their Terms of Service which you agreed to upon opening your account.

Please stop spamming your nonsense. Also, keeping 1200 BTC on an exchange is insane.

I've heard it's not the first time, but I would ask you to publish the evidence. Exchange every month tightens the rules of use and by the way now the citizens of Belarus can not trade on the exchange with a verified account. Due to the fact that in Belarus there are no taxes on cryptocurrency .

no one cares for the needs of the rich, consider your funds added to the binance owners wallet. but dont worry bitcoin will soon be worthless again, only idiots use centralised exchanges

It's surely insane to keep 1200 BTC on an exchange, bad to post the same thing again & again and even worse to image edit the official e-mail by Binance (as Binance support team told at Reddit); however, the issue is starting to get "very old". IMO, Binance should've been able to resolve it by now, or at least they should constantly update him on the issue.

I wonder how a person with more than 1,000 BTC could escalate the issue in such a random way, which leads to more spam, "this will increase the disregard of the question."
Also, if you try to enter this amount for any place there will be investigations, let alone a platform trying to dispel suspicion of money laundering on cryptocurrencies.
you have hired lawyers and taken legal action, so escalating this issue in this forum will not return your money.
Be patient and as long as you are right you will recover your money.

I don't agree with this.

He probably does have the money but involved in shady trading tactics, so his account was flagged.

You should contact them on twitter and see what they say.

Contacting them on twitter is no use they're going to say the same thing to him since OP already received a response from their support if you look at the reddit post linked by oeleo.

They shouldn't because he's already doing shady things like altering the replies. We all don't know the exact details of how it all started but who knows maybe he could be the scammer that's trying to claim the funds. If they speed up the process only because of these posts then Binance might give it to the wrong person plus he mentioned in the reddit thread that not all of the 1200 BTC belongs to him.

Internal investigation may not mean an investigation of you.  ???

Hope it resolves quickly for you, that's a lot of coin to have locked up.

I'd not agree with that. If I ever had my 1200 bitcoins locked up like that (though I'd never put it all up on a single exchange/account), I'd have literally spammed the whole crypto world (BitcoinTalk, Twitter, Reddit, etc) to pressurize Binance a bit. This DOES pressurize them, a lot of complaints like these can ultimately lead to loss of their exchange volume.

Thanks so much for your comment! I totally agree that at least they had to share any proper reason for blocking my account, but they keep telling me that I have to remain patient. I'll keep this thread updated.

I think your addresses from which bitcoins were credited to Binance are fraudulent.

Otherwise, Binance unlocks your account and you will get access to your bitcoins.

That certainly doesn’t sound good, I was scammed by a few exchanges too, they simply stop me from accessing my account which have fund inside, luckily I didn’t leave a lot of fund inside it, I vowed to write something about the shady exchanges in the future.

Hey, thanks for your comment. As I've already mentioned, my computer system just automatically translates texts so there are maybe a few words that aren’t the same but the meaning wasn’t changed at all so the difference in wording is totally obsolete.

Hey while I understand your situation I feel you have yourself to blame rather than binance, who keeps 1200 btc locked away in an exchange. I don't get your point of bringing this topic again, and again on different forums, as you're subject to an internal investigation you need to be calm and wait for it. Let your lawyer handle this matter with legal rules, and you should stop posting on all forums as this can lead to defamation.
I hope for your sake it was clean money, otherwise you'll end up with huge problems.

This is not an isolated incident.I saw more similar topics on the forum, maybe he does not respond to technical support and he decided to declare it publicly.

KYC completed in your Binance account i mean this is approved?  1200 BTC menas millions of USD i think you trying to do against binance regulations. Otherwise as a number exchange this amount is not a big deal because this is a million of friendly user exchange so they will not be steal your money.

No, they absolutely do not. You have around $7-8 million dollars on their platform at the time your account was locked for suspicious fraudulent activity. They have stated an external investigation is ongoing - i.e. law enforcement. This means they are bound by law to co-operate with the investigation and keep your account frozen until it is complete. They are also bound by law not to disclose any details of the investigations, and since the investigation is not being carried out by them but by law enforcement agencies, they have absolutely zero control over how long it will take.

If you didn't want to be investigated by law enforcement, then you shouldn't have engaged in suspicious activities. Now that they are investigating you, it's definitely in your best interest to stop spamming details of the case all over the internet. You would be wise to lock this thread.

Even years after MtGox people still keeping that kind of amount bitcoins in exchanges... I can't even believe this

 I just wish that I would have 1200 BTC on my account, but the truth is that I`ve sold everything long time ago, lol. See you all in few years from now.