My 1200 BTC Account Is Blocked By Binance

[biskitop]

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?

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.

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?

[Jateng]

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.

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.

[Erasmuss]

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.

[Carrelmae10]

..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..

[Sab11]

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.

[Lucius]

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.

[kvipcn]

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.

[larrylegend33]

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?

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..

[wildflower18]

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.

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.

[tenakha]

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.

[shinharu10282016]

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.

[bitfocus]

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

[BillieCrypt]

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.

[panukurap]

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 .

[LoyceMobile]

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.

[- ESPERS -]

     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!

[MarcoMayer]

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.

[Olayinka225]

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.

[Shafiqul Islam]

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.

[kateycoin]

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.