Post
Topic
Board Exchanges
Merits 2 from 1 user
Topic OP
Be careful using Binance & Centralized Exchange
by
The Cryptovator
on 02/05/2024, 20:51:09 UTC
⭐ Merited by NeuroticFish (2)
A few days ago, I had an issue with Binance. For my marketing services, I had been receiving funds in my Binance account. One of my clients sent me 15 BNB there, and he had used Tornado Cash to mix his BNB. I had used Binance for trading; hence, I received funds there to increase my portfolio. So after receiving funds, Binance froze my account. Even they don't ask for any explanation.

When I contacted support, they said the account was under investigation and it would take 30 working days. 
So I wait and write them on their social media as well. So almost after 45 days, they enabled my withdrawal but disabled all kinds of trading. Though it wasn't my fault and I am unaware of how clients sent funds, I suffer for that. Thanks to God, at least I was able to withdraw all the funds from Binance. I don't care, even if they don't allow me to trade there. So I moved all the funds into a hardware wallet. 

This is a lesson for everyone who has been using centralised exchanges. Don't receive funds in exchanges from random people, and don't store your funds there. The account would freeze at any time for any reason.