Binance account suspension reasons
Binance restrictions may include:
- Deposit and withdrawal limits;
- Binance account ban.
We will talk about them a little lower. First, let’s look at the reasons why your account may be subject to restrictions:
- Saving your funds.
The platform administration can block the account if the login/password has been compromised. The blocking will be temporary until the administration is convinced that your funds are safe.
Typically, you yourself may not know that someone has stolen your data: you downloaded something, followed a link somewhere – and cunning scammers are already grazing in your wallet, taking the whole cutlet out of there. But Binance claims that they “see” such actions, which is why they can temporarily block accounts.
The site’s services cannot be used by persons located in territories that are considered unreliable. These are Sudan, Iraq, North Korea, the Autonomous Republic of Crimea, etc. (the full list is on the website). Since April 000 there are certain restrictions for residents and citizens of Russia: for those of them who had more than 10 000 euros, only the withdrawal function remains . With 2019 the platform is banned in the USA: instead, residents use the site with the US domain. However, in 2019 year 7 of states managed to screw up here too, and now its residents have no access to exchange accounts at all.
- Trips to “forbidden” countries.
If you suddenly decide to travel to Afghanistan or Zimbabwe, then most likely at Binance questions will arise. It is important that for this you must be logged into your account while in the territory of one of these countries. If you manage to prove that you are not a citizen of these countries and do not live in these territories, then access to your account will be restored.
To enter your account from the list of prohibited countries, you can use VPN. However, this is also considered a violation of the rules of the site and you do it at your own peril and risk.
This may include:
- Provision of fake or expired documents during the verification process;
- signs of hacker activity in the account;
- pump and dump and other means of market manipulation.
And etc. A complete list can be found in the Binance User Agreement.
- Law Enforcement Requests.
As the platform itself explains, this also applies to sanctions –
- “We do not invent these restrictions, but we are forced to obey them” . After all, Binance is a centralized platform.
It is worth noting that if the platform suspects you of hacking, it reserves the right to restrict access to your account without explanation (and this is very in Chinese). Of course, in most cases, these measures apply to accounts with a large turnover – millions of dollars or more. Nevertheless, mere mortals also often suffer from restrictions on the part of the exchange administration.
What should I do if my account is blocked?