This is really alarming if you're a fan and user of a known exchange and knowing that they are acting like this, you just have to protect yourself and be aware of the potential freezing of your account and funds. They might suspect anyone to have a dirty transaction even without further investigation but if your transactions are clean and you're not involved with any illegal activity, you don't have to worry.
The act of freezing funds from the suspects is a cooperation of Binance to the affected ones so if your account got freeze and you're clean, prove it to them.
Topic: The reason why you need to store your money in your hands! - page 4. (Read 898 times)
Simple, stop using centralized exchanges like Binance, and start using Decentralized exchanges like Blocknet.
There is absolutely no doubt in my mind, that decentralized exchanges will be the future some day, accumulating these projects while they're cheap might actually be the best move looking forward.
As to my knowledge, Blocknet is the only real DEX on the market right now. Just needs more liquidity and volume
You can read more about it here: https://blockdx.com/
There is absolutely no doubt in my mind, that decentralized exchanges will be the future some day, accumulating these projects while they're cheap might actually be the best move looking forward.
As to my knowledge, Blocknet is the only real DEX on the market right now. Just needs more liquidity and volume
You can read more about it here: https://blockdx.com/
Can't blame the exchange for trying to follow due process to screen out any suspected transaction they are not comfortable with, all the many cases of hackers that have been going on lately and many of them unresolved might have compel this exchange to apply such measures,
actually, some of those btc might as well be bought from the "dirty btc" knowingly or unknowingly to trade in the exchange since it is not easy to determine where this btc are from, in this case, the exchange will do their job to protect their business, on the other hand the owner of the account will suffer the consequence if he/she is innocent.
we do not blame the exchange for following any procedure, but we say that it is not a good idea storing on our money on any exchange. It is very difficult for us to find out if you and I bought pure bitcoin or which one was used in illegal business. if, after all, we bought a dirty bitcoin, then no one can take it from us from our wallet actually, some of those btc might as well be bought from the "dirty btc" knowingly or unknowingly to trade in the exchange since it is not easy to determine where this btc are from, in this case, the exchange will do their job to protect their business, on the other hand the owner of the account will suffer the consequence if he/she is innocent.
I have never heard of binance freezing their user accounts for legal matters. But if this is true then we'd better store bitcoin in other wallets because we really don't know the origin of the bitcoins we buy, if we were unlucky and had our accounts frozen, 100% of us would never have received those bitcoins again. And so far storing bitcoin in exchanges has been a bad option because exchanges can be hacked at any time.
Large exchanges like binance don't want to make a risk. especially about unknown transactions. because it's about rules with the government. so the exchange must freeze the dirty account. unless they can prove it is clean. we know, this exchange has many strict rules. so that everything can go well. according to our wishes. real exchange.
We need to find exchange that suits our personality, if we don't want doing KYC too much, and we know we're doing something against their rules then don't use it. Some exchanges were not too strict but also not too secure so we need to weight our priorities whether to use strict exchange that needs many rules to follow or something like decentralised exchange so it's us who will govern but might not be secured. 
Can't blame the exchange for trying to follow due process to screen out any suspected transaction they are not comfortable with, all the many cases of hackers that have been going on lately and many of them unresolved might have compel this exchange to apply such measures,
actually, some of those btc might as well be bought from the "dirty btc" knowingly or unknowingly to trade in the exchange since it is not easy to determine where this btc are from, in this case, the exchange will do their job to protect their business, on the other hand the owner of the account will suffer the consequence if he/she is innocent.
actually, some of those btc might as well be bought from the "dirty btc" knowingly or unknowingly to trade in the exchange since it is not easy to determine where this btc are from, in this case, the exchange will do their job to protect their business, on the other hand the owner of the account will suffer the consequence if he/she is innocent.
It is reported that exchanges began to freeze accounts for having been on the accounts of a "dirty" Bitcoin. Moreover, we are talking about Binance and about the Bitcoin, which was there 5 months ago. 
Thus, exchanges can freeze any amount of funds in order to cover cash gaps simply by tinkering with their user's transaction history. If suddenly a user once bought from someone a “dirty” BTC on OTC, send it on the exchange and then conducted operations with other BTC there for a long time, then at one moment he can get a ban and the exchange can don't give him money as much time Exchange wants. 
I think it can affect everyone. so I share this info with you guys because I recommend you hold your money ONLY in your own wallets! so be careful and Happy New Year!
Thus, exchanges can freeze any amount of funds in order to cover cash gaps simply by tinkering with their user's transaction history. If suddenly a user once bought from someone a “dirty” BTC on OTC, send it on the exchange and then conducted operations with other BTC there for a long time, then at one moment he can get a ban and the exchange can don't give him money as much time Exchange wants. I think it can affect everyone. so I share this info with you guys because I recommend you hold your money ONLY in your own wallets! so be careful and Happy New Year! Now that's another reason why people should stop storing their coins in exchange apart from hacking, it's unfair if they found out that you are involve in a dirty Bitcoin transactions and they limit or freeze your account, when you just a buyer, so do an investigation on where you are buying your Bitcoin but most of all avoid exchange in storing your coins.
It is reported that exchanges began to freeze accounts for having been on the accounts of a "dirty" Bitcoin. Moreover, we are talking about Binance and about the Bitcoin, which was there 5 months ago. Thus, exchanges can freeze any amount of funds in order to cover cash gaps simply by tinkering with their user's transaction history. If suddenly a user once bought from someone a “dirty” BTC on OTC, send it on the exchange and then conducted operations with other BTC there for a long time, then at one moment he can get a ban and the exchange can don't give him money as much time Exchange wants. I think it can affect everyone. so I share this info with you guys because I recommend you hold your money ONLY in your own wallets! so be careful and Happy New Year!
Thus, exchanges can freeze any amount of funds in order to cover cash gaps simply by tinkering with their user's transaction history. If suddenly a user once bought from someone a “dirty” BTC on OTC, send it on the exchange and then conducted operations with other BTC there for a long time, then at one moment he can get a ban and the exchange can don't give him money as much time Exchange wants. I think it can affect everyone. so I share this info with you guys because I recommend you hold your money ONLY in your own wallets! so be careful and Happy New Year! Now that's another reason why people should stop storing their coins in exchange apart from hacking, it's unfair if they found out that you are involve in a dirty Bitcoin transactions and they limit or freeze your account, when you just a buyer, so do an investigation on where you are buying your Bitcoin but most of all avoid exchange in storing your coins.
You are right, but the market also does not want to take the risk if there are users who intone to act illegally and leave it alone. the exchange market can freeze the account because it has got a regulation and every user in the market is required to do the KYC then whatever happens will be protected and must comply with the regulations in that market.
indeed, it's better to save bitcoin/money in your own wallet because it's safer but when you sell it in a market and there are indications of unnatural transactions, I'm sure your account will still be frozen by the market wherever it is.
indeed, it's better to save bitcoin/money in your own wallet because it's safer but when you sell it in a market and there are indications of unnatural transactions, I'm sure your account will still be frozen by the market wherever it is.
Large exchanges like binance don't want to make a risk. especially about unknown transactions. because it's about rules with the government. so the exchange must freeze the dirty account. unless they can prove it is clean. we know, this exchange has many strict rules. so that everything can go well. according to our wishes. real exchange.
There are very limited things you can do by storing money in your hands. The value of money is in the market not in hand.
Long term hodling might be a good strategy for huge profit, but it's not as much fun as earning money with your money by trading and investing.
Long term hodling might be a good strategy for huge profit, but it's not as much fun as earning money with your money by trading and investing.
I think their account got freeze because of their illegal doings like buying some illegal items across the internet that is why their wallet has been freeze for confirmation or security purposes. Try to look for some new wallet that has a double authentication so that hackers can't enter to your wallet and cannot use your money for illegal purposes.
That reason has already used so many times and the exchange site can't even prove it. I ever getting banned on the polo due to the suspicious reason and i never did anything with my money on py polo account. Hundreds people were getting the same problem like me in the past when polo has become the best exchange site in the world. The problem is exchange site has the power over our money. it's not always about hacker.
I think their account got freeze because of their illegal doings like buying some illegal items across the internet that is why their wallet has been freeze for confirmation or security purposes. Try to look for some new wallet that has a double authentication so that hackers can't enter to your wallet and cannot use your money for illegal purposes.
It is reported that exchanges began to freeze accounts for having been on the accounts of a "dirty" Bitcoin. Moreover, we are talking about Binance and about the Bitcoin, which was there 5 months ago. Thus, exchanges can freeze any amount of funds in order to cover cash gaps simply by tinkering with their user's transaction history. If suddenly a user once bought from someone a “dirty” BTC on OTC, send it on the exchange and then conducted operations with other BTC there for a long time, then at one moment he can get a ban and the exchange can don't give him money as much time Exchange wants. I think it can affect everyone. so I share this info with you guys because I recommend you hold your money ONLY in your own wallets! so be careful and Happy New Year!
Yeah this kind of issue is very frustrating because we cannot fully trust any exchange in storing our money for a long period of time unlike in our own wallets as exchange owner can easily freeze our money anytime they like. Thus, exchanges can freeze any amount of funds in order to cover cash gaps simply by tinkering with their user's transaction history. If suddenly a user once bought from someone a “dirty” BTC on OTC, send it on the exchange and then conducted operations with other BTC there for a long time, then at one moment he can get a ban and the exchange can don't give him money as much time Exchange wants. I think it can affect everyone. so I share this info with you guys because I recommend you hold your money ONLY in your own wallets! so be careful and Happy New Year! I rarely put money in any exchange but for the traders this kind of problem is what they are facing and I'm sure that many already encountered this kind of problem.
This is probably an unpopular opinion here.
I actually support the move of freezing accounts with BTC's coming from suspected illegal sources. There was an instance when Binance freezed an account because it belongs to a hacker. During that time, everyone's praising Binance for doing their responsibility in fighting hacks. I don't remember anyone rasing concern about a centralized exchange blocking a users fund.
I actually support the move of freezing accounts with BTC's coming from suspected illegal sources. There was an instance when Binance freezed an account because it belongs to a hacker. During that time, everyone's praising Binance for doing their responsibility in fighting hacks. I don't remember anyone rasing concern about a centralized exchange blocking a users fund.
I agree. They did what must be done, and freezing accounts is good to raise awareness for people who would dare to do illegal stuff. I see no mistake with Binance aim. Though the thing is that if you got to be suspected for such activities, and that's probably the downside. But here's the catch as what majority here told about, try mixing it prior to exchanging it though there might be some suspicion but at least you got pretty much clean coin there.
The exchange sites have control for all over the accounts that already created since it was started. The exchange sites are using it to frozen your money as you don't know nothing about that but they will suspect your amount as the dirty amount. That has already happened with thousand accounts on poloniex and a lot of them must did so many verification to get their money back to their hand. It's better to seen what we need to send it to the exchange site.
This incident happened to me in some other forum but I'm not going to mention the name of that particular forum. I am felt so sad, devastated and disappointed that time. The moderators tricked me out they accused me for using multiple accounts even they don't proof and I only have one account. They banned my account while my btc was still there and until now I cant withdraw all of my btcs so for me it is much better if you withdraw your btcs form time to time to avoid loosing your money if ever.
Maybe for those suspicious account they can implement a freeze state but this is not good way since it seems like you demanding a declaration of youre asset. What if some huhe asset traders in Binance has really have funds then they can be suspected for money laundering. KYC is a best method and Binance have it so they can know whether the money circulating on his account is appropriate for him to have.
The exchange sites have control for all over the accounts that already created since it was started. The exchange sites are using it to frozen your money as you don't know nothing about that but they will suspect your amount as the dirty amount. That has already happened with thousand accounts on poloniex and a lot of them must did so many verification to get their money back to their hand. It's better to seen what we need to send it to the exchange site.
What's clear is don't buy bitcoin and altcoin other than in exchange. Because the available funds are not necessarily good sources. It could be that someone wants to launder their money and then sell it privately or through OTC.
Actually, this violates the decentralization rules, but crime must also be dealt with. I agree in some cases with binance that will freeze funds sourced from risky reasons.
On the other hand, there are still many exchanges that do not care about where the user funds come from, just use that exchange, don't take it too hard.
Actually, this violates the decentralization rules, but crime must also be dealt with. I agree in some cases with binance that will freeze funds sourced from risky reasons.
On the other hand, there are still many exchanges that do not care about where the user funds come from, just use that exchange, don't take it too hard.
You have used the term dirty bitcoin. So an exchange can freeze any account if found of illegal activities. Why would someone trade a dirty bitcoin in a regulated exchange like binance? What would you expect
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