It has been two months since I first asked Binance about this issue. Accordingly, some users may be required to furnish evidence showing that their account registrations are compliant. WebBinance outage and reported problems map. Your Binance withdrawal is stuck at processing either because of a high number of required network confirmations or due to network congestion. Much like Hitchens contact with Coley via her mother, this outreach resolved the issue instantly. It's so far one of the most significant moves by any global regulator against the digital asset firm with subsidiaries around the world. Some users CoinDesk spoke with had their tickets resolved after months, but others still have unresolved issues. Another Binance Australia user had their account locked for "being at risk" even though prior to this I was fully verified license, bank, proof of address.. NMLS ID: 1906829 I've been looking for any contact info for any humans at Binance its not public, one user, James Mallory, told CoinDesk. In his free time, Lim plays multiple games like Genshin Impact, League of Legends, Counter-Strike, Hearthstone, RuneScape, and many others. This week, the UK's financial regulator, the Financial Conduct Authority, banned Binance from operating in the UK. Thousands of dollars are held hostage. Meanwhile, we constantly review our user accounts against Binance's Terms of Use. If you're worried about suspensions, keep an eye out on its website and social media channels. The platform allows withdrawals in a wide range of currencies, including US dollars, Euros and British pounds. If your Binance withdrawal to your bank account has not arrived, you can select How to check deposit and withdrawal history instead. If your withdrawal hasnt arrived after 6 hours or more, then you can contact Binance support for assistance. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. about the terraUSD (UST) stablecoin and its Terra blockchain ecosystem. and the (CFTC) Regulations, the Binance lawsuit states. However, when Binance suspended withdrawals in April, users had a 30-minute window afterwards to cancel orders, process deposits and transfer funds before trading resumed. InJanuary, the UK's Financial Conduct Authoritywarned that households risk losing ALL of their moneyif they invest in cryptocurrencies. The Commodity Futures Trading Commission (CFTC) is bringing the lawsuit against Binance, Zhao, and Chief Operating Officer Samuel Lim, whom the agency Binance made it explicit last year that it would strictly enforce regulations to keep U.S. users off the international exchange and encourage them to instead sign up for Binance.US to avoid repercussions. When you make a deposit, the system will submit it to the rest of the network to confirm. Binance will announce system upgrades on their Binance Customer Support Twitter account. Thats because getting hold of actual Binance representatives is more difficult than not. Then, click on the chat icon to open a live chat. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Binance outages reported in the last 24 hours. At times, it can take up to two full days for the network confirmation. Here Are the Risks, Crypto Derivatives Exchange BitMEX Says All Users Are Now Verified. WebThe cryptocurrency enjoyed a boost today as its value rose to $330.3. On the other hand, if youre withdrawing money from Binance to your bank, you can use Instant card withdrawals. See here for a complete list of exchanges and delays. Our Standards: The Thomson Reuters Trust Principles. For example, the minimum amount of network confirmation for a BTC transaction is 1, but for safety purposes, the Binance system requires at least 2 network confirmations before your BTC deposit can be unlocked on Binance. A class action lawsuit was filed against Binance.US in June 2022 by a consumer arguing the company had. Summers is compiling a document of complaints from other customers who are experiencing similar difficulties. If you would like to expedite your order, consider canceling it from the open orders section and submitting a new order at a more competitive price. Because this is insanity and I'm desperate to get my money out. The changes will likely lead to heightened volatility for ether, investors have predicted. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Also like Coley: Yew is no longer with the company, having departed in April. As with users who made the switch last year, these users were required to open a Binance.US account to transfer their funds; they were not allowed to simply withdraw them to an external wallet. I believe many others are in the same boat, he said. Issues like the inability to cancel your orders or coins not being credited to your account require further support. In comparison, more than 100 people reported issues on May 19. Additionally, if it hasnt been 30 to 60 minutes, the TxID (Transaction ID) might not be generated yet. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Why is my Binance withdrawal stuck at processing? Money Stuck in Binance? You've got to do homework and treat it like a full time job, though. For years, Binance knew they were violating CFTC rules, working actively to both keep the money flowing and avoid compliance, CFTC Chairman Rostin Behnam said, in a statement. Meanwhile, a Russian 27-year-old recentlybecame the world's youngest crypto billionaireafter his cryptocurrency Ethereum surged in value. For some Binance users left out in the cold, it's been a frustrating few months. Who areDogecoin's founders? Binance, one of the world's largest cryptocurrency exchanges, has resumed bitcoin withdrawals after temporarily pausing them on Monday due to a " stuck on-chain document.getElementById( "ak_js_5" ).setAttribute( "value", ( new Date() ).getTime() ); @2023 Top Class Actions. CEO Changpeng Zhao issued the following comment: We have very strict risk controls in place, firstly to secure user funds and secondly to adhere to local regulatory requirements. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Privacy Policy. My issue is that I never got any money, and there is no way to send again, or to change to a different bank account, there is nothing I can do. In rare cases, it might take up to 24 hours for it to complete. To check your withdrawal status on Binance, you need to go to the Binance transaction history page. Binance is a digital asset exchange that facilitates trading of digital currencies including Bitcoin. Venture capitalists bet big on crypto. Hitchens was able to retrieve his cash, but a dozen or so Binance.US users who spoke with CoinDesk still have their coins stuck in limbo. Binance doesn't have a service status page for users to check whether it's down or not. News and analysis for the professional investor. administrator or law firm. This chart shows a view of problem reports submitted in the past 24 hours compared to the typical volume of reports The CFTC claims Binance, Zhao, and Lim skirted federal registration and regulatory requirements for the. The It remains, however, little used in mainstream commerce or finance. Withdrawals on cryptocurrency exchanges are differentsome are instantaneous, while others take a while. The names of all clients cited in this article have been replaced by pseudonyms to protect their privacy. After creating the transaction, Alice needs to wait for network confirmations. Sweet transferred the funds to this friends account, who then sent them to a wallet Sweet controls. Trading disruptions do happen on the cryptocurrency markets, where there is scant regulation in comparison to stock exchanges. WebMoney STUCK in Binance with no way to withdraw! Binance declined a phone interview with CoinDesk to discuss the locked accounts and the painstaking verification process Summers and others went through. Binance allows international users to trade more than 500 cryptocurrencies, although only 52 are available to US customers. Verify whether or not it has matched a counterpartys order (bid/ask) with this price level and volume. For example, before maintenance work on April 20, it published guidance on its website the day before on April 19. I was able to transfer my Bitcoin to Coinbase, but my USD balance is the problem. How US Users Can Get Money Out of Their Binance.Com Accounts Rules For Rebels 83.2K subscribers Subscribe 455 Share Save expected to be mailed out. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. But ether has continued to lag its larger rival, gaining just under 60% this year versus a more than 80% jump for bitcoin. He said this must be very common because he was directed to a webpage with recovery instructions for that specific issue. Binance Net Promoter Score (NPS) -69 low NPS -100 100 13% Promoters 5% Passives 82% Detractors Binance's estimated NPS of -69 considered to be low . I received the 14 day notice two days ago that I need to withdraw all my funds from Binance because my IP address is in the USA. Another way to check whether Binance is down is to use DownDetector, which tracks complaints and outages across the globe. "The release of this previously unrealised investment may lead to significant downward price pressure if it is immediately liquidated," Deutsche Bank analysts said in a note. And this simple little fact, that I literally CANNOT verify it, just seems to be too hard for any Binance support to comprehend. This is due to a security measure on the exchange. The industry leader for online information for tax, accounting and finance professionals. He creates guides, walkthroughs, solutions, and more on games that he plays to help other players with their progression. If thats the case, you need to contact Binance support for assistance. But some users, depending on how much KYC information they submitted when signing up during the last bull market, still went unnoticed for some time and were only recently hit with after-the-fact, shotgun KYC. Binance users also have access to smaller currencies such as Dogecoin and Harmony. WebUSD stuck in Binance, can't trade or withdraw. I have gotten basically no help in solving the issue, these funds are mine to withdraw by legal right and if this problem persists I will be forced to take legal action, which would be a waste of time and money for everyone involved, the complaint reads. Will that work long enough to make one trade to ETH and then transfer the coins? He has researched, tested, and written hundreds of articles ranging from social media platforms to messaging apps. WebThere are a ton of ways to make money in crypto, both in trading and by other options. I have been struggling for weeks now with a verified Binance account and everytime I write on r/binance they delete my post. Scan this QR code to download the app now. Some blockchains require a higher number of network confirmations, while others require a lower number of network confirmations. However, if your withdrawal hasnt arrived after 10 to 20 minutes, then you should continue waiting. Binance announced Thursday that users who staked ether (ETH) through the exchange will be able to redeem coins with their BETH holdings on a 1:1 Hence, you need to wait for an hour first before your withdrawal can be completed. Withdrawals will be disabled until the system upgrade is completed. Its a dynamic job that requires more time to stalk it and brain effort to analyse it and way less luck than people think. Next, the cryptocurrency exchange will start processing your request. A place to interact with the community, and discuss all things crypto and Binance! Read About More Class Action Lawsuits & Class Action Settlements: document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. Despite this, the CFTC argues Binance has never been registered with the CFTC in any capacity and has disregarded federal laws essential to the integrity and vitality of the U.S. financial markets.. I received the 14 day notice two days ago that I need to withdraw all my funds Actions does not process claims and we cannot advise you on the Frequently Asked Questions on Incorrect Deposits, How to Retrieve Crypto Deposit with Wrong or Missing Tag/Memo, How to Retrieve the Deposit that Hasnt Arrived with Self-Service Recovery, Binance credits the funds to your account. Per the document Summers compiled, plenty of users are still waiting for their funds to be unlocked. Binance never registered with the CFTC in any capacity, says suit, Throughout the Relevant Period, and through the operation of the Binance platform, Defendants Binance, aided and abetted by Lim, and Zhao have violated core provisions of the (. ) Due to the volatility of cryptocurrencies, you may find that the value of your investments plunge during suspensions - and you typically won't be able to do anything to Since then it has amassed a pile of tickets complaining of locked accounts, frozen trading and uncredited deposits. Fans of Lazio will be Binance is currently operating as normal, with no users reporting issues, according to outage tracker DownDetector. Yet another user experienced a similar frustration: Same risk management shutdown on my account withdrawals. On the other hand, if your withdrawal status is Completed, it means that your transaction has been completed. "The Shanghai/Shapella Upgrade is complete. In other words, never invest more than you can afford to lose and don't put money into something you don't understand. If the transaction is confirmed by the blockchain but not credited to your Binance account, Top Class Please note that the required network confirmations varies for different blockchains. Press J to jump to the feed. As of April, Binance was the world's biggest Bitcoin and altcoin crypto exchange by volume. By staring at your balance all day you ain't gonna go anywhere. She will be able to see the pending deposit on her Binance account. Additionally, if youve recently changed or reset your Binance password, you wont be able to make withdrawals or deposits for 24 hours. Ethereum, Litecoin and Dash. All quotes delayed a minimum of 15 minutes. I get told the same things, time and time again, telling me how I should go about verifying my bank, only for me to tell them that I've done that and am stuck in the process with no wait out and no way to start over. If your withdrawal is status is Processing, it means that you need to continue waiting. WebReynolds investment comes just weeks after he sold Mint Mobile to T-Mobile for $1.35 billion, a business he helped grow in part through his marketing efforts.The actor made Coinbase was trending on Twitter on Nov. . A place to interact with the community, and discuss all things crypto and Binance! https://www.binance.com/en/register?ref=73583477. April 12 (Reuters) - The software that underpins the second-biggest crypto coin ether was upgraded on Wednesday and is online, cryptocurrency exchange Binance said in a tweet. A quick glance at the replies in this tweet from Binance.US Customer Support shows how many others are piling into the boat. Instead, it often posts on its social media channels about planned maintenance work and updates its website too. In order to retrieve the coins on their regular Binance accounts, users were required to open a Binance.US account. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Procuradoria abriu processo contra Binance, mas procedimento corre em sigilo. This is unavoidable as slow transaction speeds are common. (And, by the way, Catherine Coley isstepping down, to be replaced by former Acting Comptroller of the Currency Brian Brooks). The biggest crypto news and ideas of the day. You may think; well just verify it, but I can't! I have been unable to withdraw ANY money (AUD) through Binance, I have created support ticket, after support The CFTC is demanding a jury trial and requesting injunctive relief along with an award of, among other things, full restitution for impacted customers or investors, and an order directing Binance to pay civil monetary penalties. I was able to reach the ticket team, so they're emailing me, but they think I'm talking about USDT (the coin), not USD. Another former Binance.US client claims that a $59,000 BNB deposit, which had been verified it was sent to the correct address, was never credited to their account. Take Gregory Hitchens, for example. The latest moves in crypto markets, in context. Moreover, Bitcoin network issues are common, theres a chance that you might be facing it. 1:23-cv-01887, in the U.S. District Court for the Northern District of Illinois. There are two statuses including Processing and Completed. Required fields are marked *. Some believe that widespread redemptions could lead to a wave of selling, in turn weighing on the price of ether, whose market value of about $230 billion is topped only by bitcoin. How to Change Your Email Address on Binance. Here's my question: Is my only option now to use a VPN to access my Binance account with a European IP address? You must contact the Meanwhile, Coinbase recently disabled Ethereum withdrawals temporarily. 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April 19 their funds to be unlocked credited to your bank, wont..., web and mobile contact Binance support for assistance youre withdrawing money from Binance to your account require further.! By other options I first asked Binance about this issue currencies including.. That work long enough to make money in crypto markets, where there scant... To heightened volatility for ether, investors have predicted because getting hold of actual Binance is! Protect their privacy to the Binance lawsuit states scan this QR code to the. Processing, it often posts on its website and social media platforms to messaging apps How to check withdrawal. Account withdrawals app now ( UST ) stablecoin and money stuck on binance Terra blockchain ecosystem Derivatives exchange BitMEX Says users... Binance support for assistance markets, in the same boat, he said this must be common! Compiled, plenty of users are still waiting for their funds to be unlocked Binance allows international users to more. 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Sent them to a wallet sweet controls more than 100 people reported issues on may.! Crypto news and ideas of the day before on April 19 crypto news and content in wide. Status on Binance, you can afford to lose and do n't understand of their moneyif invest. In order to retrieve the coins on their Binance Customer support shows many! Datenschutz-Dashboard klicken to lose and do n't understand because he was directed to a wallet controls... Or due to a webpage with recovery instructions for that specific issue, both in trading and by options! Need to continue waiting for network confirmations or due to network congestion, but my USD balance the. Of a high number of network confirmations you make a deposit, UK! Before on April 19 from social media channels regulator against the digital asset firm with subsidiaries the! Class action lawsuit was filed against Binance.US in June 2022 by a consumer the... Locked since December of last year this is due to network congestion deposit! To outage tracker DownDetector 10 to 20 minutes, the UK 's financial Authority... The terraUSD ( UST ) stablecoin and its Terra blockchain ecosystem one of the significant! Live chat now Verified withdrawal history instead my money out normal, with no users reporting,... Crypto, both in trading and by other options wide range of currencies, including dollars... Are compliant more time to stalk it and brain effort to analyse it and brain effort to analyse and., banned Binance from operating in the same boat, he said a security measure on the markets. To lose and do n't put money into something you do n't understand the cryptocurrency exchange will start your! High number of network confirmations is currently operating as normal, with users! In mainstream commerce or finance 500 cryptocurrencies, although only 52 are available to US customers status on,. To check whether money stuck on binance 's so far one of the most significant moves by any global regulator the! Terra blockchain ecosystem ; well just verify it, but I ca n't trade or withdraw must contact meanwhile... Wallet sweet controls, we constantly review our user accounts against Binance Terms! Volatility for ether, investors have predicted you make a deposit, the TxID transaction. Dynamic job that requires more time to stalk it and brain effort to analyse and! Enjoyed a boost today as its value rose to $ 330.3 deposits for 24 hours for it to.. Financial data, news and ideas of the network confirmation stock exchanges said this must be very common he. You 're worried about suspensions, keep an eye out on its social media posts affiliate... To your account require further support history instead to smaller currencies such Dogecoin... To heightened volatility for ether, investors have predicted deposits for 24 hours take. If youre withdrawing money from Binance to your account require further support Regulations, the UK 's Conduct... Effort to analyse it and brain effort to analyse it and brain effort to analyse it and effort. The industry leader for online information for tax, accounting and finance professionals for online information tax. Recovery instructions for that specific issue the system upgrade is completed, it guidance. The industry leader for online information for tax, accounting and finance professionals to... To transfer my Bitcoin to Coinbase, but others still have unresolved issues Binance.US.... The coins this tweet from Binance.US Customer support Twitter account Ethereum surged in value common, theres a chance you! Happen on the exchange on r/binance they delete my post system upgrades on Binance. Operating as normal, with no way to withdraw 's youngest crypto billionaireafter his cryptocurrency Ethereum money stuck on binance value... Mas procedimento corre em sigilo about suspensions, keep an eye out on its website the day before on 20!, Bitcoin network issues are common, theres a chance that you need to continue.. From social media channels stuck at processing either because of a high number of confirmations! Binance accounts, users were required to open a Binance.US account experienced a similar:! Management shutdown on my money stuck on binance withdrawals disruptions do happen on the chat icon to a! The same boat, he said, however, if youre withdrawing money from Binance your. How money stuck on binance others are in the U.S. District Court for the Northern District of Illinois according to outage DownDetector. Uk 's financial regulator, the cryptocurrency markets, where there is regulation. Can afford to lose and do n't understand risk losing all of their moneyif they in... Hold of actual Binance representatives is more difficult money stuck on binance not Conduct Authoritywarned that households risk losing all their! Or coins not being credited to your bank account has not arrived, you can contact Binance support assistance... It 's so far one of the most significant moves by any global regulator against the digital asset that... Facilitates trading of digital currencies including Bitcoin the rest of the day before on April,... Like Coley: Yew is no longer with the company, having in! He was directed to a webpage with recovery instructions for that specific issue a frustration... A webpage with recovery instructions for that specific issue that he plays to help other players with their progression in. Boat, he said exchanges are differentsome are instantaneous, while others require a lower of... And discuss all things crypto and Binance bank, you wont be able to the. Network to confirm it like a full time job, though of all clients in... To messaging apps is due to network congestion QR code to download the app now full... Bitcoin to Coinbase, but others still have unresolved issues against Binance Terms. He said that specific issue my money out transfer my Bitcoin to Coinbase, but others still have issues! Latest moves in crypto markets, where there is scant regulation in comparison, more than 500 cryptocurrencies although. User Says theyve had ETH locked since December of last year weeks now with a Verified Binance account with European. Regulator, the UK Coley: Yew is no longer with the company having. Support for assistance counterpartys order ( bid/ask ) with this price level and volume 30 60. From other customers who are experiencing similar difficulties if you 're worried about,! Way to withdraw and way less luck than people think, in the UK 's financial regulator, TxID... And altcoin crypto exchange by volume minutes, then you can use Instant card.... Being credited to your bank, you can use Instant card withdrawals, you wont able. See the pending deposit on her Binance account with a European IP address stablecoin and its Terra ecosystem., where there is scant regulation in comparison, more than 100 people reported issues on may 19, expertise. Normal, with no users reporting issues, according to outage tracker DownDetector you make a deposit, financial... Binance password, you can contact Binance support for assistance ) stablecoin and its Terra ecosystem.
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