Blocked 1200 BTC Binance Account: Lost in Doubts

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: ?? on ??

Quote from: ralle14 on November 29, 2018, 09:54:47 AM

Quote from: ?? on ??

It's surely insane to keep 1200 BTC on an exchange, bad to post the same thing again & again and even worse to image edit the official e-mail by Binance (as Binance support team told at Reddit); however, the issue is starting to get "very old". IMO, Binance should've been able to resolve it by now, or at least they should constantly update him on the issue.

They shouldn't because he's already doing shady things like altering the replies. We all don't know the exact details of how it all started but who knows maybe he could be the scammer that's trying to claim the funds. If they speed up the process only because of these posts then Binance might give it to the wrong person.

I'd not agree with that. If I ever had my 1200 bitcoins locked up like that (though I'd never put it all up on a single exchange/account), I'd have literally spammed the whole crypto world (BitcoinTalk, Twitter, Reddit, etc) to pressurize Binance a bit. This DOES pressurize them, a lot of complaints like these can ultimately lead to loss of their exchange volume.

Thanks so much for your support! I think that anyone in the same situation will do the same.

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: RodeoX on November 29, 2018, 09:58:19 AM

Internal investigation may not mean an investigation of you. Huh

Hope it resolves quickly for you, that's a lot of coin to have locked up.

Thanks so much. While Binance haven't yet shared any proper details regarding the investigation, I'm about to be lost in doubts.

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: Smokey23 on November 29, 2018, 08:21:00 AM

Quote from: ?? on ??

If i had over $7 million dollars locked on an exchange with no form of contact. There would be a full blown investigation and also news articles published to support my cause. Likelyhood of you having that amount of money is slim to none lol

I don't agree with this.

He probably does have the money but involved in shady trading tactics, so his account was flagged.

You should contact them on twitter and see what they say.

Thanks, I'll definitely try to contact them on twitter.

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: KingScorpio on November 28, 2018, 12:30:32 PM

Quote from: Erasmuss on November 28, 2018, 09:50:36 AM

Hi everyone.

I would like to let the Bitcointalk community know about the situation with my Binance account that has 1200 BTC locked.

I’m writing this post just to let you guys know how I’m doing while I wait.

I’ll spare most of the details but I’ll remind everyone just a little. A bunch of weeks ago, Binance blocked my account that had 1,200 BTC in it. I went through this long process to get it unblocked and nothing came of it. Binance wasn’t clear or open with me the whole process, changing their reason for blocking 3 times, ultimately settling on an “internal investigation”.

So basically, my lawyer has already started actions in regards to the account, and I still have hope but I’m also worried I’ll never get access to my account again. I keep losing money because Binance is just holding all of mine for no reasons. Moreover, not all of the funds on the account were mine, some of them were borrowed at interest. Being such a big exchange, I really can’t do much to fight them so I’m feeling quite hopeless honestly. I never had any other problems on any other exchanges, but with Binance, I’m having such a huge problem.

It’s a really weird place to be; I don’t know what’s going to happen and the uncertainty is awful. I’ve now been trying for months to get it unblocked to no avail; so much time has passed already and I still remain in limbo. It’s been such a stressful process and I’m still not sure if I’ll ever get my money back. I continue to suffer losses and it sucks. I’ll keep trying to get access to my account back and I’m just glad for everyone’s support and understanding. I also keep writing because I want as many people as possible to know what can happen with big exchanges so that you can all be cautious. Anyways,

To everyone that has helped me, I just want to say thank you and that I appreciate your support and help.

no one cares for the needs of the rich, consider your funds added to the binance owners wallet. but dont worry bitcoin will soon be worthless again, only idiots use centralised exchanges

While I strongly believe in decentralised exchanges, I can't use it for now due to the low volume.

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: ?? on ??

Your situation is going to teach me, i am new to this sector.

Well, at least I'm glad that my story helped someone to avoid the same mistake.

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: ?? on ??

This is rash, no definite answer and the market has been bleeding. I just hope all KYC were well captured to avoid any loopholes in the interpretation of law when your lawyer prepares a case against them. You will win the case, I suggest you first contact their CEO on social media before your lawyer will take a first slam. I hope it gets resolve soon. When it's done try to write back so as to share from the joy.

Thank you so much for the support! I'll definitely keep this thread updated!

bvg96634

full member

Activity: 482

Merit: 117

I just wish that I would have 1200 BTC on my account, but the truth is that I`ve sold everything long time ago, lol. See you all in few years from now.

Rambotnic

member

Activity: 350

Merit: 22

Even years after MtGox people still keeping that kind of amount bitcoins in exchanges... I can't even believe this

o_e_l_e_o

legendary

Activity: 2268

Merit: 18775

Quote from: Erasmuss on November 29, 2018, 11:19:02 AM

I totally agree that at least they had to share any proper reason for blocking my account, but they keep telling me that I have to remain patient.

No, they absolutely do not. You have around $7-8 million dollars on their platform at the time your account was locked for suspicious fraudulent activity. They have stated an external investigation is ongoing - i.e. law enforcement. This means they are bound by law to co-operate with the investigation and keep your account frozen until it is complete. They are also bound by law not to disclose any details of the investigations, and since the investigation is not being carried out by them but by law enforcement agencies, they have absolutely zero control over how long it will take.

If you didn't want to be investigated by law enforcement, then you shouldn't have engaged in suspicious activities. Now that they are investigating you, it's definitely in your best interest to stop spamming details of the case all over the internet. You would be wise to lock this thread.

mdzahed134

sr. member

Activity: 2226

Merit: 259

DGbet.fun - Crypto Sportsbook

KYC completed in your Binance account i mean this is approved? 1200 BTC menas millions of USD i think you trying to do against binance regulations. Otherwise as a number exchange this amount is not a big deal because this is a million of friendly user exchange so they will not be steal your money.

esetop01tryba

jr. member

Activity: 238

Merit: 1

https://www.empirehotels.io

Quote from: ?? on ??

If i had over $7 million dollars locked on an exchange with no form of contact. There would be a full blown investigation and also news articles published to support my cause. Likelyhood of you having that amount of money is slim to none lol

This is not an isolated incident.I saw more similar topics on the forum, maybe he does not respond to technical support and he decided to declare it publicly.

Juggy777

hero member

Activity: 2646

Merit: 686

Quote from: Erasmuss on November 28, 2018, 09:50:36 AM

Hi everyone.

I would like to let the Bitcointalk community know about the situation with my Binance account that has 1200 BTC locked.

Hey while I understand your situation I feel you have yourself to blame rather than binance, who keeps 1200 btc locked away in an exchange. I don't get your point of bringing this topic again, and again on different forums, as you're subject to an internal investigation you need to be calm and wait for it. Let your lawyer handle this matter with legal rules, and you should stop posting on all forums as this can lead to defamation.
I hope for your sake it was clean money, otherwise you'll end up with huge problems.

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: ralle14 on November 29, 2018, 09:54:47 AM

Quote from: Smokey23 on November 29, 2018, 08:21:00 AM

He probably does have the money but involved in shady trading tactics, so his account was flagged.

You should contact them on twitter and see what they say.

Contacting them on twitter is no use they're going to say the same thing to him since OP already received a response from their support if you look at the reddit post linked by oeleo.

Quote from: ?? on ??

It's surely insane to keep 1200 BTC on an exchange, bad to post the same thing again & again and even worse to image edit the official e-mail by Binance (as Binance support team told at Reddit); however, the issue is starting to get "very old". IMO, Binance should've been able to resolve it by now, or at least they should constantly update him on the issue.

They shouldn't because he's already doing shady things like altering the replies. We all don't know the exact details of how it all started but who knows maybe he could be the scammer that's trying to claim the funds. If they speed up the process only because of these posts then Binance might give it to the wrong person plus he mentioned in the reddit thread that not all of the 1200 BTC belongs to him.

Hey, thanks for your comment. As I've already mentioned, my computer system just automatically translates texts so there are maybe a few words that aren’t the same but the meaning wasn’t changed at all so the difference in wording is totally obsolete.

Broly46

full member

Activity: 1554

Merit: 116

0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

That certainly doesn’t sound good, I was scammed by a few exchanges too, they simply stop me from accessing my account which have fund inside, luckily I didn’t leave a lot of fund inside it, I vowed to write something about the shady exchanges in the future.

bellamente

member

Activity: 420

Merit: 10

I think your addresses from which bitcoins were credited to Binance are fraudulent.

Otherwise, Binance unlocks your account and you will get access to your bitcoins.

Erasmuss

newbie

Activity: 31

Merit: 0

Quote from: dothebeats on November 28, 2018, 10:34:00 AM

This is infuriating. Legal action must be taken in order for them to at least give a definite statement as to why they blocked your account. If they are inconsistent on their updates, something must be wrong on their side and not yours. For as long as you haven't done anything legal or breaking their terms of service, you're good, but then again we're talking about 1200 BTCs in here and that's not a small amount to not be worried about.

And on a quick note, try to save a copy of their terms of services too, just in case.

Quote from: bob123 on November 28, 2018, 09:58:16 AM

In the end, binance is a globally acting company. They won't steal your funds and risk their reputation.

One can never be sure these days, knowing that several 'reputable' exchanges have done exactly the same to their customers (Mintpal, anyone?).

--

One more thing, this should go to Service Discussion for appropriateness and more visibility towards service-related issues and concerns.

Thanks so much for your comment! I totally agree that at least they had to share any proper reason for blocking my account, but they keep telling me that I have to remain patient. I'll keep this thread updated.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Internal investigation may not mean an investigation of you. Huh

Hope it resolves quickly for you, that's a lot of coin to have locked up.

ralle14

legendary

Activity: 3430

Merit: 1934

Shuffle.com

Quote from: Smokey23 on November 29, 2018, 08:21:00 AM

He probably does have the money but involved in shady trading tactics, so his account was flagged.

You should contact them on twitter and see what they say.

Contacting them on twitter is no use they're going to say the same thing to him since OP already received a response from their support if you look at the reddit post linked by oeleo.

Quote from: ?? on ??

It's surely insane to keep 1200 BTC on an exchange, bad to post the same thing again & again and even worse to image edit the official e-mail by Binance (as Binance support team told at Reddit); however, the issue is starting to get "very old". IMO, Binance should've been able to resolve it by now, or at least they should constantly update him on the issue.

They shouldn't because he's already doing shady things like altering the replies. We all don't know the exact details of how it all started but who knows maybe he could be the scammer that's trying to claim the funds. If they speed up the process only because of these posts then Binance might give it to the wrong person plus he mentioned in the reddit thread that not all of the 1200 BTC belongs to him.

Smokey23

jr. member

Activity: 191

Merit: 7

Quote from: ?? on ??

If i had over $7 million dollars locked on an exchange with no form of contact. There would be a full blown investigation and also news articles published to support my cause. Likelyhood of you having that amount of money is slim to none lol

I don't agree with this.

He probably does have the money but involved in shady trading tactics, so his account was flagged.

You should contact them on twitter and see what they say.

hugeblack

legendary

Activity: 2758

Merit: 4074

Quote from: o_e_l_e_o on November 28, 2018, 12:03:04 PM

As Binance have told you multiple times, you are currently being externally investigated for suspected fraudulent activities. Binance have no control over the speed of this investigation. They are also legally not allowed to disclose details of the investigation. This is all outlined in their Terms of Service which you agreed to upon opening your account.

I wonder how a person with more than 1,000 BTC could escalate the issue in such a random way, which leads to more spam, "this will increase the disregard of the question."
Also, if you try to enter this amount for any place there will be investigations, let alone a platform trying to dispel suspicion of money laundering on cryptocurrencies.
you have hired lawyers and taken legal action, so escalating this issue in this forum will not return your money.
Be patient and as long as you are right you will recover your money.

Topic: Blocked 1200 BTC Binance Account: Lost in Doubts (Read 506 times)