| submitted by /u/MaterialSpring2000
In the past, one of the easiest ways to make money was to mine Bitcoin (BTC). You simply connect your computer and let it start solving difficult math …
Google Alert – bitcoin
Everything is fine until you decide to withdraw. That's when they decide it's time for KYC. And note that we are talking crypto to crypto only, no fiat involved!
- The first ask about just ID and proof of address which is fine.
- Then they ask for documents to prove your income and how you obtained the bitcoin.
- Then they ask to paste them the hashes of previous transactions, something they can easily see themselves, it's a public blockchain.
- Then they ask for screenshots from balances on other exchange you might have.
- Then they go for facebook, gmail (what does one do if they don't use gmail or social media?), skype….
- and god knows what else.
- It's been 3 months now and at this point it seems like they are just figuring out random stuff to stall the process and make people just give up.
They take their time between replies and often ask for the same stuff twice. At one point they just started ignoring my questions about the validity of their action and kept pasting the same response again and again. Gives quite a confidence doesn't it?
If you look at their subreddit, it's full with cases like this:
Oddly enough, they seem to be incorporated in Hong Kong but based in Chille.
Also there is no info (at least I couldn't find) about their CEO and team on the site.
Overal information about their operation is scarce at best.
This exchange has been around for several years now and is considered to be one with significant volume. They way they operate now looks like the end isn't too far away. Please be careaful.
Publicity and legal actions are my only hope at this point.
A month ago Binacne blocked my old, active account that was 3d level verified and full of 1.2K BTC.
The account was created and used for arbitrage on cryptocurrency markets and everything was good for a long time before Binance decided to block it.
Since then I’ve had a long conversation with their representative where I provided all my documents (even more that it was necessary), passed video verification and fund verification as well.
During our conversation they changed the reason for blocking my account a few times and as a conclusion it’s still blocked.
The first reason was “security” the last one was “law enforcement” which they don’t want to connect me directly with. And you know what, I don’t believe them at all.
- I make deposits from and make withdrawals exclusively to other well recognized exchanges from Top-10 exchanges.
- I haven’t made withdrawals to any new addresses for last month. All withdrawals were from addresses that I used before for as long as several months. Why have you just now blocked my account?
- All my withdrawals can be traced to well-known cold wallets of respectable exchanges (all were in top 10, according to CMC).
- The hackers don’t do any arbitrage.
- It's strictly prohibited to tell anyone that reason of blocked account is law enforcement (in case it's real reason, not like in my case). If it's really law enforcement they will connect you directly without any 3d party.
My accounts on other exchanges are active, so, I’m just wondering for what reasons is Binance holding my money with no rules or reasons for it?
I just kindly ask the official Binance representative to let me know that an investigtion about the account has beed started.
u/Binance How long does it take to finally solve the issue with my account as they’ve had all the documents and information for more than a month?
Is there anyone who’s faced the same situation? What kind of actions should I take against Binance to get my funds back?