m2017
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 Online
Activity: 2254
Merit: 1490
keep walking, Johnnie
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September 15, 2025, 09:03:12 AM |
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As some of you may know, I had trouble with Binance.They had frozen my funds, though later they released my funds, and I moved all the funds from Binance to my hardware wallet. After that they restricted my account and don't allow me to use it anymore. A few weeks back, they remove the restrictions from my account and allow me to use it as well. So no more restrictions in my account right now. I have talked with the support team; either I should use this account or create a new account after deleting that account. The support team said my account's restrictions were removed after the deep investigation. I can normally use the current account, and they suggested not to delete it. A week ago I traded on Binance again to test if everything went fine. As a result, everything looks to be working fine, including withdrawal and deposit. Out of storing funds, do you think I should trade back with Binance? It was one of my favourite exchanges, where I traded often. I don't store funds into exchange anymore; I just move the funds after trade if the amount is bigger. What are your thoughts? I think why you should continue using Binance, because I don't see any obstacles to this. Your previous problem was solved (albeit with a waste of time), your account is completely " cleaned" of suspicions, and moreover, this is your favorite exchanger. The incident that happened to you is not an indicator that this exchanger is not trustworthy, but rather the opposite, that this platform monitors the " purity" of transactions, and moreover, their support still works (although not so quickly  ). The only thing is, if I were you, I would not keep funds on their deposit (I allow small amounts), because I would not want to freeze them again. And you should always remember the rule that the exchanger is a third party and by keeping them on their deposits, you lose control over your funds. No matter how reliable the exchanger is. Also, use this exchanger only for trading, not for accepting payments from your clients. |
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Darker45
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Activity: 3080
Merit: 2050
Matud Nila
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September 16, 2025, 05:46:35 AM |
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The restriction was lifted just a few weeks ago? So, it took them almost a year to resolve your issue? Or did I get it right? If yes, don't you think it took them too long to decide on your concern, therefore, it's goodbye to them?
But if it's Binance where you can find all that you're looking for in a centralized exchange, they may deserve a second chance. At the end of the day, what you went through with Binance you may also experience in other centralized exchanges, perhaps even worse considering that Binance is one of the most trusted and reliable in the market.
As for my personal experience, I ditched Binance for good and moved to another popular platform. They're almost similar, anyway.
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The Cryptovator (OP)
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Activity: 2660
Merit: 2373
www.bitz.io
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September 16, 2025, 09:15:21 PM |
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The restriction was lifted just a few weeks ago? So, it took them almost a year to resolve your issue? Or did I get it right? If yes, don't you think it took them too long to decide on your concern, therefore, it's goodbye to them?
But if it's Binance where you can find all that you're looking for in a centralized exchange, they may deserve a second chance. At the end of the day, what you went through with Binance you may also experience in other centralized exchanges, perhaps even worse considering that Binance is one of the most trusted and reliable in the market.
As for my personal experience, I ditched Binance for good and moved to another popular platform. They're almost similar, anyway.
You are right; it's been almost a year since I had the issues with Binance. In the meantime I have been using another exchange like Bybit. It's also been a smooth exchange so far from my experience. Binance was my first choice, to be honest, and I was quite disappointed due to restrictions. For security reasons I don't store funds in an exchange after the issue with Binance. So when I need to sell or buy coins, I like to move them on multiple exchanges. Because I really don't want to rely on the single exchange. However, I have been using Binance again right now and don't have any issues yet. Hopefully they lifted my restrictions after a deep investigation. So there shouldn't be an issue with them unless I made mistakes again. The funds I have been dealing with are fully clean and come from Bybit. So there won't be an issue like a mixer or something else. I will be very careful when dealing with the CEX. |
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albon
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September 18, 2025, 01:33:14 PM |
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You are right; it's been almost a year since I had the issues with Binance. In the meantime I have been using another exchange like Bybit. It's also been a smooth exchange so far from my experience. Binance was my first choice, to be honest, and I was quite disappointed due to restrictions. For security reasons I don't store funds in an exchange after the issue with Binance. So when I need to sell or buy coins, I like to move them on multiple exchanges. Because I really don't want to rely on the single exchange.
However, I have been using Binance again right now and don't have any issues yet. Hopefully they lifted my restrictions after a deep investigation. So there shouldn't be an issue with them unless I made mistakes again. The funds I have been dealing with are fully clean and come from Bybit. So there won't be an issue like a mixer or something else. I will be very careful when dealing with the CEX.
Bybit is the second largest CEX in the market, and it’s also my second choice after Binance, followed by OKX. Good choice, OP. You've learned your lesson well and will not accept payments directly from your clients on Binance. If the funds come from a mixer, casino, sanctioned countries, politically exposed persons, a fraudulent platform, or were obtained illegally, then they may cause you trouble until they release your funds. If the restrictions have already been lifted, then you don’t need to worry. Always send your funds in batches without sending them all at once. You can continue using Bybit, as I don't see any reason to use Binance again unless you prefer their P2P option. Even if you use it again, what happened in the past has already been resolved, but you should be cautious because Binance deals with any activity that may be high-risk strictly as it is a regulated platform that complies with laws. |
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Z-tight
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Activity: 1358
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Daily Cashbacks 🐳
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September 18, 2025, 03:01:03 PM |
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If you prefer trading in Binance, then i don't see any reason why you shouldn't continue using them. You know the reason your account was restricted, which is because you used a mixer, most exchanges would probably have done the same thing. However, luckily you didn't lose your money and you also finally have your account back.
Centralized exchanges function in the same way. So even if you completely dump Binance for another exchange, you can run into unexpected problems in the new service, the same way you can in binance too. So simply choose the exchange you prefer and follow the precautions necessary when using an exchange.
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Rikafip
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Rip Ozzy :(
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September 18, 2025, 04:59:18 PM |
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Your previous problem was solved (albeit with a waste of time), your account is completely "cleaned" of suspicions, and moreover, this is your favorite exchanger. Who is to say that the same problem won't happen again, Binance freezing his funds because they don't like from where some crypto came from. And just because it was his favorite exchange, doesn't mean that he should ignore all the previous issues. Binance was my favorite exchange as well, but they pestered me several times, with the last time dsiabling my withdrawals for no obvious reason for more than a month, after which I stopped using them alltogether. The incident that happened to you is not an indicator that this exchanger is not trustworthy, but rather the opposite, that this platform monitors the " purity" of transactions, and moreover, their support still works (although not so quickly ). Its indicator of future problems, because they won't stop at that.
@The Cryptovator if I am you, I wouldn't touch them with ten foot pole. |
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The Cryptovator (OP)
Legendary
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Activity: 2660
Merit: 2373
www.bitz.io
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September 18, 2025, 06:44:34 PM |
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Binance was my favorite exchange as well, but they pestered me several times, with the last time dsiabling my withdrawals for no obvious reason for more than a month, after which I stopped using them alltogether. So funds are still stuck there? Or later they have enabled withdrawal? After a lot of conversation through their support system and making a sound on social media, they had released my funds. I admit it was a mistake by my clients sending funds from the mixer for what I have suffered. I have explained the situation, and eventually funds were released. However, they kept me as restricted, but after almost a year, they lifted the ban. So what's your account status right now? @The Cryptovator if I am you, I wouldn't touch them with ten foot pole.
Whatever exchange you use, you are aware of such a situation. Any exchange would repeat the same thing. Even I have heard bybit about the same issues. It means you aren't safe anywhere. |
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Rikafip
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Activity: 2254
Merit: 7229
Rip Ozzy :(
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September 18, 2025, 07:31:42 PM |
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So funds are still stuck there? Or later they have enabled withdrawal? Nah, they eventually unfroze my account and I immediately got the money out. Account After a lot of conversation through their support system and making a sound on social media, they had released my funds. Same here. I kept pressuring them all over the place, and in the end their support on reddit expedite my case and sorted things out in a matter of hours, while I have been waiting for more than a month. So, when they want they can really sort things out, but I guess they just like to fuck around with their users. So what's your account status right now? The account is fine now, its just that I stopped using it. |
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rat03gopoh
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September 19, 2025, 08:07:18 AM |
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I think Binance is only a viable alternative for you because, based on other posts, you've had a new exchange for a year. Surely you've adapted to the new one.
Only use Binance if there's a promotion that entices you to participate. And remember their alarm triggers: don't accept direct deposits unless it's from your own personal wallet.
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Z-tight
Legendary
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Activity: 1358
Merit: 1201
Daily Cashbacks 🐳
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September 19, 2025, 01:01:43 PM |
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Only use Binance if there's a promotion that entices you to participate. And remember their alarm triggers: don't accept direct deposits unless it's from your own personal wallet.
The same goes for any other exchange, if you accept coins that has been mixed or has gone through any privacy tool, then there is a high chance that the coins will be confiscated and the account would be restricted. If it were to be a binance thing, then i would have recommended that op should never use binance again, but since this can happen in any exchange and in any custodial service, then it makes sense to simply use the exchange you like the most and be careful when doing so. |
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avp2306
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September 19, 2025, 02:01:29 PM |
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I think Binance is only a viable alternative for you because, based on other posts, you've had a new exchange for a year. Surely you've adapted to the new one.
Only use Binance if there's a promotion that entices you to participate. And remember their alarm triggers: don't accept direct deposits unless it's from your own personal wallet.
Yeah if everything works well on his new exchange use and he didn't get any problem for using it then maybe he should not go on Binance anymore. He just use it when it needed since in that situation better to make Binance as his alternative because he already experience to get compromised on that exchange. Although we cannot deny that Binance offer cheap fee's that's why lots of people love to use this exchange, but the convenient is more better to consider since we don't know on when the same issue what OP gets will occur especially that he already experience to encounter those troubles. |
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EarnOnVictor
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September 21, 2025, 11:45:41 AM |
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What are your thoughts?
I'm just seeing this, especially the drama of freezing your account and restricting other activities on it. This is a big shame on Binance. Sorry about that, but it's a big lesson for you, "once bitten, twice shy." What could have been the issue if not looking for excuses to steal people's money? Binance has been known for lots of shady activities, so it would be wise for you to never return there, or maintain a low balance. You can't be targeted if the money is little, that's Binance's Modus Operandi, and it could get worse if you are not careful. |
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