Bitcoin Forum
April 20, 2019, 09:43:27 AM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 [6]  All
  Print  
Author Topic: My 1200 BTC Account Is Blocked By Binance  (Read 925 times)
Erasmuss
Newbie
*
Offline Offline

Activity: 31
Merit: 0


View Profile
October 30, 2018, 04:19:06 PM
 #101

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.
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.

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.
1555753407
Hero Member
*
Offline Offline

Posts: 1555753407

View Profile Personal Message (Offline)

Ignore
1555753407
Reply with quote  #2

1555753407
Report to moderator
1555753407
Hero Member
*
Offline Offline

Posts: 1555753407

View Profile Personal Message (Offline)

Ignore
1555753407
Reply with quote  #2

1555753407
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1555753407
Hero Member
*
Offline Offline

Posts: 1555753407

View Profile Personal Message (Offline)

Ignore
1555753407
Reply with quote  #2

1555753407
Report to moderator
1555753407
Hero Member
*
Offline Offline

Posts: 1555753407

View Profile Personal Message (Offline)

Ignore
1555753407
Reply with quote  #2

1555753407
Report to moderator
Erasmuss
Newbie
*
Offline Offline

Activity: 31
Merit: 0


View Profile
October 30, 2018, 04:24:24 PM
 #102

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?

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.
Erasmuss
Newbie
*
Offline Offline

Activity: 31
Merit: 0


View Profile
October 30, 2018, 04:51:42 PM
 #103

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.

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.
magisterr
Sr. Member
****
Offline Offline

Activity: 714
Merit: 259


Harmony for One and All


View Profile
October 31, 2018, 10:59:02 AM
 #104

1200 BTC? Really? This is around 7.5 mln usd by current market price  Shocked
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 ....


▄▄▄▄▄▄                ▄▄▄▄▄▄
▄██████████▄          ▄██████████▄
████▀▀  ▀▀████        ████▀▀  ▀▀████
████        ████      ████        ████
▐███▌        ▐███▌    ▐███▌        ▐███▌
▐███          ███▌    ▐███          ███▌
▐███          ███▌    ▐███         ▄███▌
▐███          ███▌    ▐███      ▄▄█████▌
▐███          ███▌    ▐███  ▄▄█████▀███▌
▐███      ▄▄████████████████████▀▀  ███▌
▐███   ▄▄███████████████████▀▀      ███▌
▐███ ▄████▀▀  ███▌    ▐███          ███▌
▐██████▀      ███▌    ▐███          ███▌
▐████▀        ███▌    ▐███          ███▌
▐███          ███▌    ▐███          ███▌
▐███▌        ▐███▌    ▐███▌        ▐███▌
████        ████      ████        ████
████▄▄  ▄▄████        ████▄▄  ▄▄████
▀██████████▀          ▀██████████▀
▀▀▀▀▀▀                ▀▀▀▀▀▀
Harmony.


.
.Open Consensus for 10 Billion People..
eHarmony Blockchain’s Deep ShardingWWWW
.
▄▄████████▄▄
▄████████████████▄
▄████████████████████▄
███████████████▀▀  █████
████████████▀▀      ██████
▐████████▀▀   ▄▄     ██████▌
▐████▀▀    ▄█▀▀     ███████▌
▐████████ █▀        ███████▌
████████ █ ▄███▄   ███████
████████████████▄▄██████
▀████████████████████▀
▀████████████████▀
▀▀████████▀▀
.
.
.
.
.
WP
▀▀▀



Pages: « 1 2 3 4 5 [6]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!