Binance exchange - blocks money withdrawal!

[bearexin]

Were you not aware of this since you started making use of Binance in trading? Binance is a centralized exchange and it’s a normal thing that centralized exchanges do, and it’s usually to protect their customers. If you choose to be making use of an exchange that is centralized, then you have no other option than to comply with their rules and stop going up and down.

If it was a decentralized exchange the case would have been something different because nobody cares, but for these Centralized exchanges if they notice any slight changes or activities they will have to block your account to protect your account, because if they don’t do that and it happens to be someone stealing your funds, you will still be the one to call out and blame them for not taking actions. So do what they have asked and prove your identity.

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[jrrsparkles]

Were you not aware of this since you started making use of Binance in trading? Binance is a centralized exchange and it’s a normal thing that centralized exchanges do, and it’s usually to protect their customers. If you choose to be making use of an exchange that is centralized, then you have no other option than to comply with their rules and stop going up and down.

If it was a decentralized exchange the case would have been something different because nobody cares, but for these Centralized exchanges if they notice any slight changes or activities they will have to block your account to protect your account, because if they don’t do that and it happens to be someone stealing your funds, you will still be the one to call out and blame them for not taking actions. So do what they have asked and prove your identity.

Yes it is true and no more questions, they just need the users to go under verification process if they need it.That is why users don't have to connect via VPN which might cause the accounts getting into frozen if the withdrawals are made from different country locations in very short time.

[carmel32t]

That is due to the security systems that it has and if binance sees suspicious movements it tends to block you so that you can get your money, you have to write to the support in these cases they will surely give you a solution, it could also be that some coins and wallets They are in maintenance and you can not get the amount, but as I say go to support is a good option

[fredeq]

Unverified binance user here.

Few days ago I have learned that my account is withdrawal blocekd since 26-09-2020.
No notice or msg of any kind since that day, just lucky I tried to withdraw lately and was made aware of the issue.

For now support did not ask to KYC me, instead they have asked me to record a video with proof that I have sent those BTC in september.

Many people have similar problems, here some more details:
https://www.reddit.com/r/binance/comments/mhs4xj/withdrawals_blocked_without_notice/
https://twitter.com/WhatToMine/status/1377324177108111366

[fortebettor]

Well, Binance is a centralized exchange after all and therefore holds the funds of its customers. They have to take those security measures to prevent funds getting stolen, unfortunately, this also implies false-positives as probably in your case. Accounts are flagged relatively quickly by their risk management, for example if you suddenly log in at different IP addresses than usual or use a VPN network for login.

I'm afraid there's not much you can do about it now. If you want to withdraw your dash, you will have to KYCen.

You mean to say that even if you have one source of funds that is clean and secure I can't use a vpn? That's extra security. Does binance really make such jokes? I understand large funds from unknown sources but what if the money flows from one account all the time in both directions?

[JooBra]

Well, Binance is a centralized exchange after all and therefore holds the funds of its customers. They have to take those security measures to prevent funds getting stolen, unfortunately, this also implies false-positives as probably in your case. Accounts are flagged relatively quickly by their risk management, for example if you suddenly log in at different IP addresses than usual or use a VPN network for login.

I'm afraid there's not much you can do about it now. If you want to withdraw your dash, you will have to KYCen.

You mean to say that even if you have one source of funds that is clean and secure I can't use a vpn? That's extra security. Does binance really make such jokes? I understand large funds from unknown sources but what if the money flows from one account all the time in both directions?

You need to do verification and all what is needed. I never had any problems and been using Binance for years. Deposits withdraws always done pretty fast. No complains from my side.

[iamsheikhadil]

While I understand your pain, there's not much you can really do about it, and seeing Binance's good-will in the market, they wouldn't do such with users simply because of some evil intentions, I'm not taking their side here, but just seeing it through the eyes of marketing. Crypto-currencies are often used for very big crimes because of the advantages it provides, so centralized exchanges (who also have to follow some government rules) will ask for those data when they think there maybe risk. It's annoying but then again, it's in their terms and conditions :/

[doctor877]

It's usually painful anytime it happens like this but you just have to do the verification to be able to get your funds at this stage. That's the only way to it. It might be an issue if IP conflict which was flagged and then they had to take this step. It's usually withing their terms and conditions to do such things whenever there is need to. Majority of the centralized exchange do this.

[Mahanton]

It's usually painful anytime it happens like this but you just have to do the verification to be able to get your funds at this stage. That's the only way to it. It might be an issue if IP conflict which was flagged and then they had to take this step. It's usually withing their terms and conditions to do such things whenever there is need to. Majority of the centralized exchange do this.

This is really just a matter of choice actually because these things can really be read up into their terms which they do have the right on holding up funds if something unusual events that do happen
on a certain user account which you wont have any choice but to deal on what they are requiring for you to unlock your account and if you do really value up your privacy or identity then you
should accept that there no way you can pull out those funds on the exchange but if you do trust them up then you can always submit on whats required
as simple as that.

[LUCKMCFLY]

My experience in Binance with something similar was that I made a deposit from an Exchange other than Binance, it was XRP, and I did not place the Tag, to do it quickly, then I kindly asked for support arguing my mistake. They replied that they could help me only if they needed a video where I entered the deposit exchange and verified the entire transaction, so I did, and they also required me to verify the account (which I did not like).

When I did all the verification, they did everything and were able to put the XRP in my account, I think they make those decisions to avoid possible theft or possible bots.

[fredeq]

My experience in Binance with something similar was that I made a deposit from an Exchange other than Binance, it was XRP, and I did not place the Tag, to do it quickly, then I kindly asked for support arguing my mistake. They replied that they could help me only if they needed a video where I entered the deposit exchange and verified the entire transaction, so I did, and they also required me to verify the account (which I did not like).

When I did all the verification, they did everything and were able to put the XRP in my account, I think they make those decisions to avoid possible theft or possible bots.

Currently having the same problem. They marked a small transaction for 80$ from TradeOgre as "abnormal".

Could you please share some details about the "When I did all the verification"? Already recorded first video with transaction details.
Where you asked to record a second "verification" video where you share in general view of your email / recite the poem "I am xxx and want to restore withdrawal...." ?

[santiPOGI]

If the money withdrawal of the author was has been blocked that means there is something that He/She violated some of the
rules were Binance have. However, if ever this is true it doesn't mean Binance clients or users will be reduce, of course not.
I begun using Binance exchange during 2018 but from that time I encounter such an issues like this as long as I know
I am not disobeying the rules they have anyway.

[Xxmodded]

Abonormal withdrawal maybe you only need to pass KYC verify and you can withdraw your assets back, but last day my friend try to withdraw with higher amount but not available and waiting more than 7 days for account back to normal, maybe any fraud and bad system way from binance by withdrawing higher amount fund,