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 ....
Topic: My 1200 BTC Account Is Blocked By Binance (Read 1317 times)
1200 BTC? Really? This is around 7.5 mln usd by current market price
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 ....
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 ....
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.
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.
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.
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.
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.
Will in ny own opinion about this issue in binance ,maybe there is something a different story thats never been discuss in this issue and why should binance blocking to access of your account,maybe theres a rule there in doing account in binance thats once you wrong to put a several attempt to unlocking your account password or 2FA its make to block your account and whole scene so in order to protect your acccount on hacking they need to contact the real owner of this asset,because binance based on my experience are a good exchange or otherwise binance can make trouble now on there trading site.
Hey, thanks for your feedback.
I'm not saying that Binance is a bad exchange, but the fact is they have blocked my account and now claim that there's an investigation. They still keep silence, while my money (btw, it's more than 1/10 of their trading volume) are kept frozen. I have no idea why do they still keep it frozen, as there are no reasons for that.
This is really sad if this is really true, don't give up you'll get your funds back.
Thanks for your support!
Hello everyone,
No news is good news, but not in my case. I still haven't received a feedback from Binance regarding the actions that they are about to proceed, so the situation remains the same. Funds are still locked, as I don't even have an access to the account.
I've never expected that my story is able to grab so much attention. I would like to thank you guys who sympathise my issue, and I do hope that the situation will be solved sooner or later.
I'll keep you posted and will share any updates from their side. Funds are not SAFU.
No news is good news, but not in my case. I still haven't received a feedback from Binance regarding the actions that they are about to proceed, so the situation remains the same. Funds are still locked, as I don't even have an access to the account.
I've never expected that my story is able to grab so much attention. I would like to thank you guys who sympathise my issue, and I do hope that the situation will be solved sooner or later.
I'll keep you posted and will share any updates from their side. Funds are not SAFU.
The Binance support team may also be cautious. I hope you can get your money back as soon as possible. But I must say that it is a very high amount to hold on a exchange.
Hello everyone,
No news is good news, but not in my case. I still haven't received a feedback from Binance regarding the actions that they are about to proceed, so the situation remains the same. Funds are still locked, as I don't even have an access to the account.
I've never expected that my story is able to grab so much attention. I would like to thank you guys who sympathise my issue, and I do hope that the situation will be solved sooner or later.
I'll keep you posted and will share any updates from their side. Funds are not SAFU.
No news is good news, but not in my case. I still haven't received a feedback from Binance regarding the actions that they are about to proceed, so the situation remains the same. Funds are still locked, as I don't even have an access to the account.
I've never expected that my story is able to grab so much attention. I would like to thank you guys who sympathise my issue, and I do hope that the situation will be solved sooner or later.
I'll keep you posted and will share any updates from their side. Funds are not SAFU.
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.
I don't know you are talking the truth or not but it's the truth that Binance support is very long drawn which I don't like. I like to trade in Binance because of trading volume but I don't like their support. Very slow and unfriendly which is unexpected to all user. Binance should upgrade their support to fast and friendly. 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.
This is really sad if this is really true, don't give up you'll get your funds back.
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. 
I'm a little curious, why do they do that on your account, is it possible to use trading bots. it doesn't seem like a good reason, I have doubts about binance exchange now
LMAO, you're telling us here that Binance locked your account with 1200 Bitcoins and you're participating in bounty campaigns with 1200 Bitcoins on your pocket?
Stop trolling us in here even a person with 500+ BTC won't participate in bounty campaigns that give a few amounts of pennies.
You're just trolling in here and spreading FUD against Binance kid.
His story isn't true just take a look at my screenshots on his account, and do you believe that a person hodling 1200 Bitcoins will participate in Bounty Campaigns?
Lol, seems that this guy has nothing to do with his day .
I wonder is it worth reporting.. is there a chance that all this thread is deleted.
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.
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.
A person with 1200 pcs of Bitcoin like you participating in bounty campaigns such as Twitter and Facebook bounty?
Take a look at this
Troll Busted!
LMAO, you're telling us here that Binance locked your account with 1200 Bitcoins and you're participating in bounty campaigns with 1200 Bitcoins on your pocket?
Stop trolling us in here even a person with 500+ BTC won't participate in bounty campaigns that give a few amounts of pennies.
You're just trolling in here and spreading FUD against Binance kid.
Assuming your story true. Veterans should know to never ever put much funds on exchanges.
His story isn't true just take a look at my screenshots on his account, and do you believe that a person hodling 1200 Bitcoins will participate in Bounty Campaigns? 
Assuming your story true. Veterans should know to never ever put much funds on exchanges.
This is the reason that it is not good to keep our crypto currencies in the exchange even if they are famous and known trading exchanges that aside from this reason then exchanges are now the prime targets of the hackers in which our crypto assets are not insured in their sites. If your country declared Bitcoin is legal then you could ask the help of your government as 1200 BTC is a huge money.
Hey buddy how are you today? hope you doing well, Anyways that 1.2k bitcoin is probably a big thing. If i will have those bitcoin i won't play that huge amount. Coz your going to take all the money from the exchange. I wonder how did you get into that exchange without verifying KYC
Thanks for sharing your story, I always thought that Binance is the most safe exchange for trading and even storing my actives. So if binance team have done it with you they can easily do the same with anyone. No thanks, I have withdrawn most of my funds
you are wrong It is OP mistake and not Binance As what OP is telling is not true as if you know about exchange rules then you will know that without KYC you cannot operate this much high funds for trading not even for arbitrage trading also.
It is always not recommended to invest high amount of coins in exchange as they are not safe and they get hacked lot of time. Only invest when you are trading and then withdraw it. dont worry about transaction fees as you investment will be on risk if you see the small transaction fees.
Thanks for sharing your story, I always thought that Binance is the most safe exchange for trading and even storing my actives. So if binance team have done it with you they can easily do the same with anyone. No thanks, I have withdrawn most of my funds
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.
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