Source
r/binance•
churgercold

Binance scammed me 1516 USDT with unethical verification requests! Stay Away from this Scam Exchance!

FUD

I woud like here to point how BINANCE scammed me 1516 USD with some bullshit and unethical requests.

What happened?

On 2019-12-20 I registered a binance account. I choosed to not verify my account as the limits of 2 BTC were more than enough for me!

I deposited same day 0.21 BTC and sold it for USDT.

Since I didn't use my account. On March 30 I logged in from a new computer. The system sent me an email to authorize the new device. This was done successfully.

Later I tried to withdraw around 700 USD worth of BTC. The request was cancelled an the sytem asked me to verify my identiy. What???? What's the purpose of using unverified account????? So whenever I change my machine and login, I will have to submit my documents??

Meanwhile I had some discussion with live support, who tried to help. Finally, I have been told that I have no other choice than doing the full verification. I decided then to do the verification which was done finally successfully.

You can see here:

​

https://preview.redd.it/pkqhioutdfs41.png?width=493&format=png&auto=webp&s=fe4b632deb7d6d133d0894f6dfe1ac39b458b463

​

I spoke again with the support, they told me that I can try again, now that I'm fully verified, I can withdraw my funds.

​

https://preview.redd.it/v0gddx81efs41.png?width=488&format=png&auto=webp&s=fbe27450f5a0a6247080be59d0c0f064c736eb55

So I tried again to withdraw some BTC, first the status for "Waiting for approval" then later it changed "Rejected" with the info "Withdraw rejected. Risk control". What???

I contacted again the support and I have been told that I will receive an email from Binance within few hours.

Almost 20hrs passed, nothing from Binance. So I opened a Ticket.

u/ilir_binance 2821529 # is Ticket number for reference! Ticket was opened on 03/31/2020 (12 days ago by the time of writing this post).

Next day I received an answer from Binance support. And look what these people are asking me:

Dear user,

Thanks for reaching out,

We apologize for the delay in response due to the high volume of requests. As per checking, we found that the withdraw function was suspended due to the withdrawal risk control. We are willing to help you resume the withdrawal of your account. However, we may need some information to make progress.

Security questions:

  1. Account registration date

  2. Account registration IP

  3. Device information

So far this is not a problem to provide. I already provided this.

Furthermore, they asked me to record a video :

A video of the first deposit you made to your Binance account. The video would contain the login process (do NOT show password) of the platform/wallet where you made this transaction to your Binance account, find the transaction and show us the full TxID, date and amount information.

Seriously?????? These were parts of my answer to them, same day:

Hello guys,

Thank you for your reply, but I'm sorry to say that what you are asking is absolutely unethical, but it's okay. Your Kingdom, Your rules. I'm happy to solve this issue, take out my money out and never use again your terrible exchange.

[...]

  1. You wrote:

", please provide your withdrawal records and communication records with Binance CS"

Where the hell should I get communication records?? I had some chat with your support when my account got locked.

But where the hell should I get these communications?? Are you kidding me?

You asked for my withdrawal records? Which ones??? One was rejected, the other was cancelled.

So there was no withdrawal so far. So why are you asking something that does not exist??

[...]

  1. And finally you wrote:

"A video of the first deposit you made to your Binance account. The video would contain the login process (do NOT show password) of the platform/wallet where you made this transaction to your Binance account, find the transaction and show us the full TxID, date and amount information. "

My account was opened on the 20th December 2019!

I made my first deposit on the same day, 0.21.. BTC.

This has been now now more than 4 months!!!! How should I remember now which wallet I used by that time and what Transaction ID?

Are you kidding me??????

It was not a platform, I remember I used a wallet, but I dont remember which one anymore. I checked all my current wallets and I couldn't find this transaction.

It was this transaction based on my deposit history:https://www.blockchain.com/btc/tx/....

​

So they basically are asking me things that they know I can't provide and so would get a way to keep my money.

​

I asked them if it will be enough to provide anything else and close this case.

I will request then to withdraw all my coins and after that I will request you to close my account.

I will never use again your service.

I look forward to reading you soon, as we can close this case.

​

Since there have been no answer from their support! I sent few email to remind them, there was simply no answer!

So this was my last email to them, 5 days ago:

​

https://preview.redd.it/hryd3ghsefs41.png?width=474&format=png&auto=webp&s=bd853ce43499946e225dcbd2101fbc60c7efc24d

Still today, I didn't get any answer.

I want to let everyone know about this. If this company is not a scam, I'm asking them to let me withdraw my money simply.

​

r/Bitcoin r/BinanceExchange r/CryptoCurrency r/CryptoCurrencyTrading r/CryptoScam r/CryptoScamAlert r/CryptoScamsVictims

Posted Apr 12, 2020, 6:06 PM UTC

8889
gweeha45•

Upvoted. Hope someone from binance can elaborate what happened? I use binance and now i’m worried

32
ksiva887•

Binance have one of the worst KYC rules. I had same experience few months back, first they app does not work, when you chat with binance support only thing they say is we do not have another option other than submitting documents and wait. It’s basically nightmare.

3
ActivePeak7•

same here the lag of their app isnt fixed up to this date..

2
[deleted]•

[deleted]

2
oldyellowtruck•

Know your customer. Asking for personal info etc. Its a USA law.

1
symbiotic_bnb•

It's unfortunate that the app doesn't work for you; it works for almost everyone else, but where does the "nightmare" come in in your story? Submitting documents and waiting is a nightmare? Did you explain your app issue to support in detail?

-1†
[deleted]•

[removed]

1
symbiotic_bnb•

😢

1
FartOnToast•

https://www.reddit.com/r/binance/comments/g01kig/_/fn83ixw

2
[deleted]•

[deleted]

1
emobe_•

You upvote for what reason exactly? If you have no idea what is going on, maybe lurk?

1
oldyellowtruck•

You should be, they KYC “unverified” accounts all the time. It’s just a way for them to steal from people who are afraid to do the KYC, otherwise they’d flag the deposits.

1
[deleted]•

[removed]

1
eburnside•

I've got the "please provide your ip address from when you first signed up" before too.

Insane.

So they basically are asking me things that they know I can't provide and so would get a way to keep my money.

Yes. Why else advertise no KYC, then have the worst KYC in the world?

15
symbiotic_bnb•

Yeah, how dare Binance expect you to simply go to your e-mail account and search for your registration e-mail? Even if you didn't have the e-mail anymore, you can simply tell support that and they will work around the issue.

Centralized exchanges must abide by common sense risk management and AML rules, otherwise they risk being shut down. But of course, you being a big Binance FUDster in every Binance-related comment you make, it's not expected for you to understand this.

2†
turpajouhipukki•

The IP address is not included in the registration mail at least in my registration confirmation from 2017.

Also, what is this crap:

A video of the first deposit you made to your Binance account.

6
symbiotic_bnb•

Should be. Even if it weren't, this is again as simple as responding to support and advising them that you do not have access to that information.

1
turpajouhipukki•

Should be, I agree, especially if it's going to be asked for, but it's not.

0
oldyellowtruck•

Bingo.

1
Yogi_DMT•

Yep binance "scams" people out of $1000 I'm sure that's how they make all their money /s

8
theforwardbrain•

I have used Binance for many years and I have almost zero issues with them, if I ever did, it will be resolved easily.

Upon reading your experience, I am sure there are a few reasons Binance did what they did, for example change of IP or even change of country? I also never understood why people are so worried about KYC, it exist as a method for you to prove who you are ultimately. Will you prefer a bank that does no KYC? What happens if you lose your password to everything and all you have is your identity but then you did not do KYC. See the issue? I usually find little reason to not do KYC to protect my account. A millionaire or billionaire will definitely prefer KYC than no KYC.

Second issue is, you said there is no way you can remember which wallet you send your btc to Binance 4 months ago. Like for real? You have less than one btc. How many wallets do you have? 1000? You may have at most less than 10 wallets, it is not hard to establish which wallet you used and just login and prove with the txid record. The fact that you said you cannot prove this plus saying there is no way you can remember which wallet you send from as if there is no way for you to check, is HIGHLY SUSPICIOUS.

All of you ask yourself this, can you not know which wallet you did a transaction on 4 months ago? If you didnt know, are you not able to just check your wallets to locate the tx? Does this guy own a hedge fund with 20 departments and 200 employees with 10k wallets? Highly unlikely, go check the few wallets that you have and find the txid. If you cannot do so, it is likely something in your story is bullshit.

What Binance is doing is justified since you hold a bullshit story. Your KYC prove nothing btw, it just prove the identity of the person that currently owns the account, it does not establish that you have been the owner since day 1. The only way to establish that is to request a video of the ownership of the original wallet that send the txid. They clearly suspect that you could be a hacker and stole the account.

8
Nclip•

Agree. This story sounds bullshit. And as a KYC professional in an actual bank the verification process Binance has seems decent to me.

3
RedMacSvK•

Just dont use this site, their "verifications" are more than annoying, even changing your email can take Up to 5 days, just to fulfill some of the steps and then the processing... Just use anything else where they straight up ask you to set-up 2 step verification and ID verification and you are good to go with everything, for example : Coinbase. And if you know someone who is writing news in some cryptoworld webnews it would be good to reach out to them as this is pretty serious

5
symbiotic_bnb•

Yeah, why would Binance opt to have stringent verification processes for sensitive activities? So annoying! Ah, wait, someone just stole my life savings.

-5
coinsven•

What's with the sass? Keep it professional.

4
symbiotic_bnb•

No need to be overly-sensitive about a sarcastic response to an ignorant comment.

-1
WolfOfFusion•

Since I didn't use my account. On March 30 I logged in from a new computer.

Ah, so you left your money on an exchange for an extended period of time and walked away.

As the saying goes: Not your keys...

2
Grebyn35•

DO NOT use binance, this scam is one of many. I have pictures of how they "accidently"cannot transfer 100% of swingtrades profit (fees included upon that)

2
[deleted]•

[removed]

1
symbiotic_bnb•

No need to turn the conspiracy theories up to 11 by adding racial nonsense to the mix.

1
xZero543•

Seems like I should collect what I have and close my account. I would suggest everyone to do the same as this is pretty serious case OP has. Atrocious!

1†
symbiotic_bnb•

https://www.reddit.com/r/binance/comments/g01kig/binance_scammed_me_1516_usdt_with_unethical/fn83ixw/

In any case, good luck finding any exchange you can use if you simply pack up and leave the moment you stumble across anyone complaining about the exchange on social media.

-1†
xZero543•

This is not first case I've seen. It's just one in dozen, but this looks serious. + It came to my knowledge that you have banned the OP.

1
symbiotic_bnb•

Nah, you're just buddies with the OP, as expected by your overreaction.

1
xZero543•

Not really. You're too fast to draw conclusions. I am striving to be reasonable and to be independent, neutral third party, yet this stuff makes me angry as I had similar experience with another exchange, and never got my money back. Seeing this type injustice in user experience report for X time, pushed me to rethink my investments and whom I trust. I trusted Binance. I never had issues with Binance before, but I also never traded any serious sum.

Now as you also banned the OP, doesn't really help shine any nicer light on Binance.

2
symbiotic_bnbMOD•

Let's rewind back to the reason your withdrawals were suspended in the first place. "Risk Control." This can mean many things, and most often it simply means that we have identified unusual activity on your account that may indicate a third-party has gained unauthorized access and withdrawals were suspended to protect your assets.

However, sometimes our risk control measures don't only identify suspicious activity on victim accounts, but they also identify accounts belonging to bad actors themselves. Case in point: is there a particular reason why someone else attempted to KYC your account a day before your attempt? Typically, legitimate customers do not cycle through various individuals for their KYC attempts. It's interesting that you made no mention of this anywhere, given how obvious it is that this is cause for concern, especially considering that the other individual that submitted KYC for "your" account has been involved in malicious activity on our platform.

That said, Binance has no interest in "stealing" anything from any of its customers, but we surely aren't going to allow bad actors to freely operate on our platform. You may simply respond to the ticket from here forth.

For any normal customer reading this, support is extremely busy due to recent market conditions and new interest pouring into the market and some tickets may take longer than intended to address, but that doesn't mean that there is any ill intent behind the delay. If you go an extended amount of time, such as 3+ days, with no response to your ticket, you may speak with the live support on our website and request an update.

If you are unable to provide anything that customer support asks for, all you need to do is respond to the ticket and explain what you are unable to provide and why you are unable to provide it. There are procedures in place for nearly every situation, support does not simply give up after the first step if a customer is unable to provide something that is not always guaranteed to be known.

Posting on Reddit is the last stop once all other options have failed. Keep in mind that you do not need to embellish or over-exaggerate your situation to get assistance. Simply be reasonable and you will receive the same in return.

1
FartOnToast•

This is a very reassuring answer.

17
Yogi_DMT•

Any big exchange is going to have their detractors. Binance is second to none when it comes to trustworthiness in the crypto world.

8
simplygiraffe•

I think the reason why some are unhappy is because they expect to remain anonymous on the platform. Anonymity sure, but I think Binance is doing the right thing for disabling accounts when they detect abuse (they are actually protecting the funds). I would assume that accounts without KYC will be more easily flagged as suspicious, and it makes sense. If you are a bad person and use Binance to transact, then I think all of us will agree that you deserve to be limited.

In this case, Binance provided the reason which is that someone else (already flagged as a ‘bad’ person) tried to KYC using OP account. If OP was unaware of that unauthorised KYC by another party, then OP account was compromised and Binance did the right thing by prevent funds withdrawal.

It would definitely be a red flag if two different person tried to KYC with possibly different information so I think it makes sense for Binance to ask for more information to really make sure that the user is legitimate.

If despite giving all required information to Binance but still unable to withdraw. Then I would kindly request OP to please update us cause I would too want to move my funds out of Binance ASAP

6
[deleted]•

[removed]

1
neoftw•

Just give this mans money back

1
originalBRfan•

Hi symbiotic_bnb

I'm looking for a reliable crypto exchange, one where I can invest in a little Bitcoin and hold onto it for as long as I feel I should. Of course privacy and security do matter. And when I mention reliability, I am referring to the ability to easily and readily withdraw however much funds (either the cash or the Bitcoin I may have) without issue. Can you briefly discuss the advantage of using your platform over Coinbase in terms of those two elements? Thank you!

1
symbiotic_bnb•

Did you end up doing any research and making a decision? Do you have any more specific questions?

1
originalBRfan•

I dropped it for a bit, so I haven't decided yet. The subject of being able to easily and readily withdraw however much funds (either the cash or the Bitcoin I may have) without issue would be my top concern. I have read too many posts at this point where this is the primary issue for customers at multiple exchanges. It's a scary thought to think that you could potentially have thousands upon thousands of dollars in cash in your account from a sale or from not having purchased a digital currency yet and then you are one day perhaps unable to even get to that account altogether. And, on top of that, the customer service department that's there to handle that kind of issue is unresponsive. That is far less likely to happen at a traditional bank, but those issues would be a very important. So, it's the combination of great customer service (including access and responsiveness) and just plain old ease of use (access/withdrawal of funds).

2
[deleted]•

[deleted]

-8
symbiotic_bnb•

Seems you have trouble with reading comprehension. Try reading my comment again -- focus specifically on the "Risk Control" portion.

7
oldyellowtruck•

You had already asked him to KYC when he tried to bypass KYC, get it? You started the process. If you want KYC from everyone, you shouldn’t pretend to have a 2 BTC limit for non verified accounts. It’s truly just a way for you to trap “bad actors” and keep their money. If that weren’t true, you would reject their deposits.

1
symbiotic_bnb•

There is no pretending. Read our Terms of Use (that thing you agreed to when registering) and exercise common sense; that's really all it takes. Your "reject deposits" comment makes no sense, especially in this situation, you just choose to spout off nonsense in which you have no clue about.

1
[deleted]•

[deleted]

1
Bradys_Eighth_Ring•

But "risk control" never would have been triggered if you didn't require KYC for what was supposed to be an anonymous account.

They say they kept their transactions to under the 2 BTC limit as anymore would require KYC, and yet you still hit them with KYC when they tried to withdraw.

Why is this?

0
oldyellowtruck•

Exactly.

2
symbiotic_bnb•

Risk control was triggered twice, for two different reasons. Once prior to the KYC, and once after the KYC. Odd that you ask me a question I've already clearly explained.

Try re-reading my comment and perhaps our Terms of Use; perhaps it will help you understand why someone abiding by the 2 BTC rule may still be required to complete KYC under certain circumstances.

0
[deleted]•

[deleted]

-9
symbiotic_bnb•

If you can't read and comprehend the explanation I've already given as to why we would restrict withdrawals, there is little point in restating it. Best of luck elsewhere.

13
applemanherecometh•

The irony here is you're leaving one if not the best exchanges out there to an exchange where you're more likely to be scammed. Goodluck, idiot.

4
oldyellowtruck•

Binance and Bitfinex both got me like this. Trying to trade under the limits and then got KYC’d anyway.

2
[deleted]•

[removed]

1
snappytalker•

Most people don't understand basics of security and have many trojans, uefi implants and other. Binance pro-active security system may check some suspicious multiple logins or attempts. Better choice is having dedicated laptop on chromebook with fido2 built in hardware or using ybikey as 2fa.

Ever your Linux pure laptop could be compromised if not a professional and have no skills with secure boot uefi with custom keys and other secure settings.

Say it as side IT specialist (not binance employee)

1
[deleted]•

[deleted]

1
[deleted]•

[removed]

1
park_injured•

Binance makes hundreds of millions in profit every year. They’re not gonna scam you for $1500 lmao.

1
[deleted]•

[deleted]

1
[deleted]•

[removed]

1
Grebyn35•

They closed my ticket regarding my similar issue after 2 weeks of no answer yet updates from me :coolglassesemoji:

1
[deleted]•

[removed]

1
[deleted]•

[deleted]

1