And the problem is larger than the U.S. Clients from Binances primary exchange and Binance Australia have also been affected, per documents shared with CoinDesk. Meanwhile, Coinbase recently disabled Ethereum withdrawals temporarily. A class action lawsuit was filed against Binance.US in June 2022 by a consumer arguing the company had misled investors about the terraUSD (UST) stablecoin and its Terra blockchain ecosystem. document.getElementById( "ak_js_5" ).setAttribute( "value", ( new Date() ).getTime() ); @2023 Top Class Actions. Binance refused to make any comment beyond its statement. And I am still at square one. 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. He said that during his repeated requests to have his funds unlocked, he received vague emails that said his memo case is not on hold.. 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. These processes have always been in place to adhere to local, regional and global compliance requirements. Press question mark to learn the rest of the keyboard shortcuts. Scan this QR code to download the app now. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. I've been looking for any contact info for any humans at Binance its not public, one user, James Mallory, told CoinDesk. "I was also asked to make a bank transfer appeal by customer support, I did this and I got an email response saying the appeal was rejected due to 'risk control.'". 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. System upgrades can take anywhere between 30 minutes to 24 hours, so make sure to check the Binance announcement page for more information. There are two statuses including Processing and Completed. This is dependent on the exchanges infrastructure. Part of the answer on where investors money is lies in the ownership pattern of WazirX. Brown submitted the requested documents in January. No response in 2 weeks to video upload with U.K. passport etc.. Hence, its highly recommended that you remain patient and wait for your withdrawal to arrive. Take Gregory Hitchens, for example. If you're keen to know whether other users are affected by an outage, it could also be worth searching on Twitter. CoinDesk journalists are not allowed to purchase stock outright in DCG. Due to possible network congestion, there might be a significant delay in processing your transaction. Please contact our Customer Support team and provide screenshots thatll document. In this guide, youll learn how long does a Binance withdrawal take, why is your Binance withdrawal stuck at processing, and more. 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. Our top priority is user security. 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 transaction ." Withdrawals on cryptocurrency exchanges are differentsome are instantaneous, while others take a while. Top Class Actions is a legal news source A quick glance at the replies in this tweet from Binance.US Customer Support shows how many others are piling into the boat. Some blockchains require a higher number of network confirmations, while others require a lower number of network confirmations. "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. Moreover, as evidenced by the troubles experienced by Summers and others, these risk and compliance account freezes are happening to more than just Binance.US users. I'm no longer able to trade, so I can't buy coins and then transfer them, and it won't let me withdraw my USD unless I verify my identity, but there's no options to select a US address in the verification process. You may think; well just verify it, but I can't! Money Stuck in Binance? It also declined to comment on the painstaking verification processes that for many users, so far, have resulted in weeks or months of radio silence. At times, it can take up to two full days for the network confirmation. The site said that I could only move the coins into a .us account, I couldnt trade, sell or extract them. Two weeks ago I wrote to the help center and all they are doing is bumming me off. But then Binance.US froze his account for what he called little to no reason., I traded in some harmony tokens for [U.S. dollars] and couldnt withdraw them, Hitchens told CoinDesk. I have no idea why out of the dozens of Binance support members, none of them have achieved ANYTHING in helping me, not a single thing. As of April, Binance was the world's biggest Bitcoin and altcoin crypto exchange by volume. The CFTC claims Binance, Zhao, and Lim skirted federal registration and regulatory requirements for the. For a quick settlement, you may also consider using a market order. Keep in mind, though, that online exchanges arent the safest place to store your funds. To verify my bank account, Binance is SUPPOSED to send you between 0.01 and 0.99 AUD in around 3 business days, then, you enter the amount they sent into the bank account to verify you have ownership of the account. Brown neglected to fill out the memo field for these coins when he deposited them on the exchange, which apparently caused Binance to not credit his account with the sum. In response to complaints in the replies of its Customer Service Twitter thread, Binance routinely blames Amazon Web Services for the account disruptions. Here Are the Risks, Crypto Derivatives Exchange BitMEX Says All Users Are Now Verified. If Alice decides to withdraw these funds, she needs to wait for 2 network confirmations. The shotgun KYC that U.S. Binance users have experienced isnt exclusive to Binance, though admittedly other U.S.-restricted exchanges (like BitMEX) often give users the ability to withdraw to an external wallet before closing the account instead of demanding an internal transfer as Binance does. 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 expected to be mailed out. Thousands of dollars are held hostage. But since at least late 2020 Binance users from the U.S. and around the globe have had their accounts frozen for unconventional reasons. On the other hand, if your withdrawal status is Completed, it means that your transaction has been completed. If your Binance withdrawal to your bank account has not arrived, you can select How to check deposit and withdrawal history instead. 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Meanwhile, we constantly review our user accounts against Binance's Terms of Use. WebUSD stuck in Binance, can't trade or withdraw. administrator or law firm. 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.US - All rights reserved. Pretty straightforward, right? A place to interact with the community, and discuss all things crypto and Binance! Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Whoever can help me solve this issue is a Godsend. If your Binance withdrawal has not arrived, you can either continue waiting or contact Binance support for assistance. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. If the transaction hasn't been fully confirmed by the blockchain network nodes, or hasn't reached the minimum amount of network confirmations specified by our system, please wait patiently for it to be processed. (And, by the way, Catherine Coley isstepping down, to be replaced by former Acting Comptroller of the Currency Brian Brooks). Get started on Binance here:https://www.binance.com/en/register?ref=73583477or use 73583477 as the referral code. Because this is insanity and I'm desperate to get my money out. By staring at your balance all day you ain't gonna go anywhere. settlement administrator or your attorney for any updates regarding After creating the transaction, Alice needs to wait for network confirmations. Accordingly, some users may be required to furnish evidence showing that their account registrations are compliant. One has been waiting for nearly a year, Summers told CoinDesk. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. 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