Bitcoin Forum

Hello!

Recently I was trying to withdraw from my Binance account, but the exchange denied...

The exchange demands new verification(video-verification) . Though I use the same browser as well as a withdrawal
address. Also I didn’t change my password.

It is not a big amount of cryptocurrency, there’s no need in new documents with a sum under 2BTC.
Besides, I checked limit facility raise to 100BTC last year and I passed.

I logged in few months later after level2 verification and a deposit BTC and I saw my limit for withdrawal was cut from 100 BTC to 0
and it demands one more check, requires more documents.

It seems that Binance wants to follow in the footsteps of HitBTC and selectively closes withdrawal with more
information requests.
For instance, in the spring HitBTC blocked withdrawal of developer Luke Dash Jr. ( https://twitter.com/lukedashjr/status/1111219680985919488 )
and crypto-blogger Crypto Monk and other users: https://www.ccn.com/hitbtc-users-shout-fraud-kyc/
Binance tries not to choose well-known people for withdrawal blocking. For now.

Your currency on Binance are not your currency.

If anyone knows a better way to spotlight the situation – you are welcome!

I just logged in into my Binanace after seeing this and it seems everything is okay for me. Only few days ago I needed to do a trade and after that I withdraw it to my wallet without any hassle.

Did they do it very recently like today or yesterday?

It's not only for Binance it's true for any exchange or service which do you give you access of the private key.
There is already a saying, "not your private key not your coin"

How exactly is binance related to HitBTC? Just because HITBTC *also* "selectively" enforce KYC on customers?

What country are you from?

I'm not quick nor keen to defend exchanges, but i doubt that Binance would be selectively scamming customers with KYC. They stand to lose a lot more than there is to gain. A single rogue employee who would leak proof of such instructions given by binance could sink Binance's entire reputation.

Rather, i think it has something to do with *obviously* your account activity, origin of funds, or perhaps your nationality?



Reddit?  > https://www.reddit.com/r/binance/

Probably. Since his account was already verified, I imagine it wasn't a nationality issue. Most of the OP's posts are in Russian so I guess it's possible they are expanding their restrictions for OFAC sanctions. But I don't see why they would demand video verification then.

If they froze withdrawals directly after the last deposit, that points to an issue with origin of funds. Binance is working with multiple blockchain analysis companies now for AML purposes, so that's definitely a possibility.

I'm not sure under what exact circumstances they demand video verification. This is what they've said publicly: (https://www.reddit.com/r/binance/comments/anwfbh/actually_for_the_record/efxcvky/)


OP, did you complete the "automated Face Verification process?"

is it for all accounts, some accounts, or just your account?
because my account is smooth, and for verification it has also been level 2, the limit is 100 BTC, and I still smoothly withdraw it, there are no problems or updated regulations regarding data.
maybe because of regional policy or what, for sure I am still smooth, and this is usually a special reason from the binance.

I think your account is problematic and you should complete KYC at this time because recently with many IEO projects so account censorship is something that Binance is doing very seriously this time. In my opinion, it doesn't matter if you are the owner of the property and Binance has reason to ask you to do so so don't worry too much about this matter.

They closed withdrawal few weeks ago. I got it just right now that they are not going to pay back.
They set low limit of withdrawal not from 100 BTC to 2 BTC but from 100 BTC to 0.

They block users selectively even those who passed a KYC verification(with selfie) like me.

Automated Face Verification process?   Selfie with ID? Yes,  complete.

I just logged to my binance as well. Nothing seem new, I withdraw 0.05 its a praction non will bother to block my account for such amount but I do believe we have the same kind of account and had passed KYC before. It didn't asked video KYC though. It would be tough of them to do that. But if they ask I may just have to comply within.

If you are trading after very long time are just used VPN while log into your balance account you faced this situation.

But you cannot consider this as a scam because they even hack recently about 40 million dollar but they refund every amount last from the traders so it's just security measure to save your account from hacks so just simply pass the video verification and your account will be safe.

I:              I want to set higher limit of withdrawal from 2BTC to 100BTC and pass a verification.
Binance:    Ok, send documents for verification.
I:             Sent!
Binance:    We accepted your documents and set higher limit up to 100 BTC.


Few months later, after crediting bitcoins to an exchange account...


I:             Why did you set lower limit of withdrawal from 100BTC to 0?
Binance:    Documents we have are not enough, please, send us your video.
I:             I want to stop working with you and withdraw my bitcoins.
Binance:    send us your video.

I guess all these people (including Crypto Monk, Luke Dash, etc) should have contacted the support team to solve the problem. If the people you mentioned decided not to provide this data, then they don't care about their money. This is how it goes for any exchange, unfortunately.

So you are saying that you are not even let to withdraw that 2 bitcoins per day limit?

But you alone facing this problem.

Are you sure that you deposited to the right site?

Have you already reached their support? Ask them on what are the violation you had made why they do ask out more verification and also you are transacting less than of 2btc daily limit.
I have logged my account but everything works fine in the end.Its odd for a top tier exchange to lock up an account which having small balance which didnt able to reach 2+btc.
For sure there are violations you have committed.

I also checked up my account now too, seems normal to me.
I agree with the user above me, message support to check up what caused the exact issue. Probably they noticed a change in IP or suspicious activities related to the account. With the many hackings happening in exchanges, they are being more careful. You don't blame them though.

I have not have issues trading with Binance  (I hope, I don't in the future).

You should check with support what is the problem, i never had any problem on Binance. If they ask kyc you should do it but as i know you can withdraw 2 btc every 24 hours without kyc. After you check with support please update the here and let us know what was the problem.

You requested to upgrade your limit and binance granted it, though there’s a new requirements maybe because of the hack incidents thats why they add more requirements. Send your video if you have nothing to hide, they needed it for sure or maybe they saw a suspicious activity with you account. So far I can still withdraw on my Binance without experiencing the same issue with you.

They said that the browser changed, but I haven't changed my browser lately.

They block accounts selectively with small deposits(<1btc) where the user doesn't log during month.
Your account is not blocked now, but they may block any account without serious reasons.

I reccomend you to keep your money at your PC, but not at the Binance.

It's obvious that it's just for selective accounts.I think it's probably due to the fact that OP tried to login in to his account after a few months and immediately requested a withdraw.
It surely seems like a suspicious activity though. The vedio verification is just too much though, Binance could have verfied the account through email or photo with date or something.

Then reading between the lines, they flagged you for suspicious activity. This could be related to the outputs you sent. Is there any chance they could be associated with illicit activity, sent directly from a dark web marketplace or something?

Another possibility is your verification documents. Let's say hypothetically that two different accounts used your documents to verify, whether because someone stole your documents or vice versa. Binance would demand a video verification to determine who is truly associated with those documents.

The only option that you could have left participate in what Binance is asking for, the Video Verification. I think it's not a matter of how much you are withdrawing or how big the balance you have, it's just for them to take note of who you are and verify if it's really you. I'm not comfortable, personally, with confirming myself towards an exchange but it will happen sooner or later. They want to protect themselves on possible threats too, not saying that you are. I think it's standard procedure, that's all.

Happened to me when I sold an altcoin to bitcoin and then withdrew in just one day.
It aint really a problem for me.
They will need to abide by the rules and that means their clients too. That is called KYC my friend.
You cannot stop that with a centralized exchange.
If you are having problems with that then, try to go looking for Decentralized exchange which I doubt you will find. Most of them have lower volumes.

Do not compare it with HitBtc. That is way far for a comparison.

This is the problem and disadvantage in using centralized exchange like binance. Which is they can block your withdrawal just like what happen to you in binance, and if you didn't upgrade your limit into level they will also block your account where you can't able to log in anymore.  But Binance was far more beyond Hitbtc they are not the same in the first place.

How funny, OP is comparing with HitBtc exchange, even i never experienced any such problems in Binance exchange. My withdrawals went smoothly into my cold wallets without any verification, but for the people who are withdrawing higher amount defenitely, they need to verify their identity.

Lol, It's funny because it took you an experience to realize this, when this particular advice have been sang on numerous occasions both on and off forum. Exchanges aren't wallet and shouldn't be treated as one. Kyc on the other hand have established itself as a feature associated with all centralized exchanges so we can't fight it. Although am not much of a fan, we still have to comply since we make use of these platform, and are obligated to provide all the necessary requirements.

Consider this a lesson and just go ahead with the verification process to get your coins and store them on a wallet you have control over your private keys. Binance exchange aren't known for shady behaviors although it doesn't guarantee the safety of your documents.

So they're asking you to send a video, is the video about you logging in your account? If that's the case, why not follow the instruction? It would only take few minutes to do it and you'll get your account back.

Here's a thread (https://www.reddit.com/r/BinanceExchange/comments/7wz875/binance_support_asking_for_a_video_of_me_loging/) where a user was also asked to send a video, their support and staff replied in the thread saying screenshots aren't enough proof.

I have not seen this issue in my own account and I think it is personal to you, maybe you should just try and contact the customer care to really know what the challenges is. Binance is doing very fine and if you see them being a little bit strict, probably they are just putting a lot of security measures in place to avoid what befell them the last time their exchange was hacked because it is not so easy to lose 41 million dollars, they might have hacked it from people’s account, but Binance is the one that paid the money back and this is quite a very huge money for them to loose from the company’s operational account.

I think we just need to be very patient with them for now, if eventually it is a new system they are implementing that is yet to get to some of us.

Binance is the most popular exchange in the crypto space, I can vouch based on my experience that they don't hold withdrawals.
However, users have different experience and you might be in a different situation.

That seems to be scary as they've require you a KYC in the form of video, honestly, I thought there's something you must have violated with the rules.
if you feel you are the one who are violated here, feel free to make a scam accusation.

I use binance also but i didn't see that happen to me although i didn't transaction a lot of money. After binance hacked they have to right increase there security system. But i think you'll pass your problem soon because you are not a new user or this is the first time you transfer huge amount money. Binance is really trust able exchange just hang on some time you'll get your money mate.

I think you just need to follow binance's request, everything will be solved easily. Your account has not logged in for a long time, so binance with additional security with your account is necessary

That is why I can't give to them other information besides that I have just given.
I'm afraid that the employees of Binance may sell the personal data about the clients or the hackers may get my information from this exchange.

I do not see any problems in re-passing KYC, apparently after the last hack on 7000+ btc and security review, now a lot of changes.

You already gave them your ID and selfie. Is a video verification (where you specifically mention Binance) really much more to give? I guess it all depends how much is in your account. If I only had some bitcents or low value altcoins in my account, maybe I wouldn't care. It's up to you....

This is a very strange and very disturbing story. I would like you to answer me the following:

- How long have you been without logging in to binance? or did you login every day?

- Did you make constant withdrawals (something like every day)?

- Do you make very high value deposits constantly?

I want to see if I find any patterns, as I use binance I want to beware, you never know when these exchanges become scam

I'm not seeing large scale complaints about this. As long as it's a one-off complaint, I think we should assume we don't have the full story. Binance is one of the biggest exchanges in the world after all.

If it were me and I had already given up my ID and selfie, I don't see why a video verification is much more to ask. I hate the idea of exchanges scamming customers with KYC but I have to wonder if the OP can't pass the video verification. The case of multiple accounts verifying with the same documents would warrant this.

No, I think they are only implementing security methods to preserve assets for investors. If you have provided KYC to them, you will quickly resolve the requirements they set.
Up to now, Binance is still one of the exchanges I trust the most and they are doing very well their work.

This is nonsense. They do not randomly block accounts without a valid reason. Have you contacted them and asked why your withdraw limit was set to zero?

-I didn't visit this exchange during few months before this day, but there were the days when I visited this exchange two days running (during trading).
-There were not constant withdrawals, but there were few withdrawals last year. This year there were not withdrawals (except the failed effort).
-Only last year I made few big deposits.

I will take my lawer's advice if they may demand this additional verification. If they may do it then I need to give them these  additional verification. I think that this is an exchange's fraud.
If they haven't right to demand this additional verification then I need to file lawsuit to this exchange that they return back my BTC.

Maybe this is the problem, your account was marked suspicious because it was not active a few months ago and suddenly tried to make a withdrawal, therefore the binance system did additional verification for you. I think what binance has done is very appropriate, considering that a few months ago they suffered losses due to hackers. Therefore Binance adds to the double security of any suspicious activity now.

Now you only need to verify with videos, I think it's not too difficult for you, unless you don't want your money to be withdrawn. Make sure all the complaints that you face to contact binance support.

I think that there is no topic content to be taken very seriously, considering that the person who is sharing is a new member and how he / she chooses the topic. Perhaps the only purpose in creating this topic is to discredit the Binance service. Of course, the service you are talking about is not a perfect or defensible service, but it is important to remember that the service you are talking about leads the market. If one day he seizes Binance users' money, or if he disappears within one night, the cryptocurrency market will have a huge crisis. Therefore, we should be careful not to create such worrisome topics. It is likely that your target of denigration about service has not worked well.

They do it (Binance) for user data security, because they are very concerned about the security of users such as if there is suspicious login activity regarding accounts that have many assets in it they can just ask for verification to ensure that you actually access the account

Maybe you are from a country that can no longer trade on Binance. For example citizens from Serbia can no longer use Binance, same as US citizens. I have read about Serbian users complaining that after logging in they were asked to withdraw their funds as soon as possible because their country is no longer accepted. Maybe they have reasons to believe that you are not who you say you are.

I consulted with the lawyer if the Binance hold my money and asked my personal data legally.
I will file lawsuit against the exchange to return back my money if they don't return my BTC.

I found that the Binance is registered at the Malta and Changpeng Zhao(CEO of Binance) personally knows the Joseph Muscat(prime minister of Malta)
https://news.bitcoin.com/malta-prime-minister-welcomes-binance-to-its-blockchain-island/
https://twitter.com/JosephMuscat_JM/status/977115588614086656



Joseph Muscat is known thanks to the money laundering scandals(Panapa papers),
https://www.occrp.org/ru/home/27-ccwatch/cc-watch-briefs/6392-maltese-pm-calls-snap-election-amid-offshore-allegations  
https://www.occrp.org/ru/daily/7456-former-maltese-anti-graft-agent-says-he-fears-for-his-life

as the journalist Daphne Caruana Galizia told ( later journalist Daphne Caruana Galizia has been murdered with a car bomb https://www.occrp.org/en/projects/27-ccwatch/cc-watch-briefs/7141-maltese-corruption-and-organized-crime-reporter-murdered-by-car-bomb
https://twitter.com/DefendAssange/status/920008980444872706 )


It is possible that through Changpeng Zhao the exchange takes part in the money laundering and the next time we will see as the FBI, SEC etc. deals with the exchanges, which launder money.
Be careful, probably soon we will see the same image during logging the exchange, which we have just seen at the other exchanges:

http://i66.tinypic.com/bff5vc.jpg

This is one fact about Binance that you have said here, and aside this, I think it is high time we start having some regulations in the cryptocurrency industry, and some of these regulations may be quite strict because enough is enough of all these scammers taking advantage of the industry and making some interested users/investors see it as a weak technology and this is why government too has typically refused to support it and frowning at it.

I guess one of the reason Binanceis quite strict with accounts now is because of the recent hacking attack that was launched on them, which they lost some tangible amount to, and the record has also been shown that amount of money that has gone through crypto fraud is about 2.7 billion dollars, this is really disheartening and I support if Binance and some exchanges has to put some regulations.

Delayed can be expected but the case for OP is different binance is asking him to provide video for verification I'm not familiar with that since I only used this exchange for small amount of trades not more than 2btc which can deal with withdrawal without any issues.

Might need to clear this things out from binance team and checked from them if what's the reason behind this avoiding you to withdraw your coins.

Well, it is a centralized exchanges. I guess they are under government rules and have to be compliant.

They could even remove the kyc withdrawal limits one day and , before you know it they begin to freeze many accounts.
 It is a dangerous gamble to keep lots of coins on centralized exchanges.
If Luke can be affected, anyone as well could.