How to Recover Your Frozen Assets In Binance in a Snap
Are you one of the many who have been wondering why your Binance assets have been frozen? Through no fault of your own, Binance has chosen to freeze your Crypto assets leaving you to wonder simply why.
If you regularly keep up with the current news and affairs of the Crypto landscape, you might have a good idea what all the fuss is about your Binance assets. If not, this article will explain the situation and offer you a simple solution with DoNotPay.
Warning. (This article may contain certain references to the activities that Binance has recently been found guilty of participating in and you might find this disturbing)
Exactly What is Binance?
Looking at the face value of Binance, you get the sense that you have stumbled upon yet another platform for buying, selling, trading, and holding Cryptocurrencies. And you would be right. In a fledgling type of currency trying to build faith and add value to its premise, Binance is what it is. CEO and founder of Binance Changpeng Zhao is no stranger to success in the world of Crypto.
In 2005 he built Fusion Systems which provided high-frequency trading systems for stockbrokers. Since then, Zhao has been the CTO for OKCoin which specializes in spot trading for Fiat and Digital Assets, and a member of the Cryptocurrency wallet team for Blockchain.info.
In January of 2018, Binance was the largest Crypto exchange with a market value of $1.3 billion and its largest competitor was Coinbase.
Knowing how to build a successful Crypto exchange is one thing. Monitoring its client base is another.
The Trouble Brewing at Binance
On May 7, 2019, Binance was the victim of 'one of the largest security breaches in history when hackers stole 7,000 Bitcoin worth about $40 million US at that time. These hackers used a virtual toolbox of viruses, malware, ransomware, and phishing to pull off their fraudulent activities. It was later announced that these acts were of course under investigation and that is where the 'dirty laundry' began to spill out into the Cryptocurrency's leading exchange platform.
Illegal Money Laundering Claims Against Binance
In the dark underbelly of society, it seems that Crypto is a great place to do your laundry, Money laundering that is.
Some of the most infamous names associated with this dirty deed include;
- Hydra, Russia's largest darknet.
- Lazarus, North Korean Government-Backed Hacking Cartel.
- WazirX was accused of money laundering by the Indian Government and owned by Binance.
In a rather informative article from Reuters, Binance is nothing more than a laundering facility for the billions of dollars spent globally on drug and sex trafficking, and you can also add weapons sales to that list.
This is a quote from a Russian woman who wished to remain anonymous on the ease with which she could purchase methamphetamine using Binance by providing fake account information and using the dark web. The system's anonymity made it easy to buy drugs on the darknet, she said. "It was like buying chocolate in the store."
Of course, CEO Zhao denies all these claims as the US DOJ launched its investigative probe into Binance's dealings with these people and others including some 'weapons-seeking' Ukrainians more recently.
Zhao also mentions that the deal to acquire WazirX had yet to go through to subside the pressure from international investigations. All of these investigations are occurring as Zhau takes Binance on a whirlwind tour of the globe trying to find a permanent home for the company since being ousted from China for illegal money laundering.
The company has since relocated to the Cayman Islands, a hotbed for illegal money activity.
How many 'red flags' did you notice so far?
- 'Victim' of a large security breach
- Harbors an international ring of cartels and other criminals
- Has lax identity policies
- Been associated with drug sales in Russia via the dark web
- Has relocated to avoid conviction of allegations
Why Are There So Many Binance Frozen Assets?
Legal issues aside, Binance is also plagued with technical issues. Its Doge Wallet and DogeCoin have led to assets being frozen until these issues are resolved.
That was pretty much the statement given in a press release dated November of 2021. Now, in mid-2022, assets are still frozen among the majority of Binance account holders. Why? To circumvent any additional money laundering, drug selling, sex trafficking, or arms dealing 'phantom' account holder issues, Zhao has promised, himself, that new and more robust stringent identity verification parameters were being built from the ground up as well as doing 'deep dives' into current account holders being vetted.
In that press release Zhao covered these points;
- Implementing newer identity verification standards.
- Policing these new standards beyond that which is required of any Crypto platform.
- Notifying flagged account holders to promptly remove their funds within a given timeframe or these assets would become the property of Binance.
- These procedures will take so much time to sort out, build new, and implement.
It has been almost a year since Binance begins these 'fixes' yet many accounts still have frozen assets. So, what can you do?
Contacting Binance About Your Frozen Assets
As all of these claims and uncovered truths begin to surface, Binance customers like you need clear and concise solutions to have Binance Support in your corner. The only link for 'Binance Support' is buried at the bottom of their homepage and only takes you back to a page trying to sell you more Binance features.
Flowchain.org published a recent post on 'Ways to Contact Binance' and as absurd as they are, here they are;
- Find the buried Submit a Request on the Support link on the Binance website
- Submit a request on their Twitter profile
- Submit a request through Reddit
Crypto is hard enough for a new user to grasp without wondering if his or her assets are going to be frozen, accused of being involved in illegal activity, or simply being withheld because Zhao needs those assets to cover his legal fees.
Let's show you how to quickly and efficiently address this issue so you can get to your Binance assets fast, easy, and successfully.
Other Ways to Contact Binance
|Binance Website||Cryptocurrency Exchange | Binance|
|Chat With Us||Binance Chat|
|Support Email Addressfirstname.lastname@example.org|
|How to Whitelist Binance Emails | Binance|
Let DoNotPay Go to Work on Your Behalf
Given the sorts of issues we are dealing with here, you will need someone with a proven track record of success and experience to deal with Binance. You need the world's first robot lawyer to go and get your Binance frozen assets with a level of finesse on your behalf.
All you have to do is:
- Search “Crypto” on DoNotPay.
- Select the crypto exchange platform you use.
- Tell us when this problem started and estimate the losses you incurred from your inability to make trades/cash out.
Let your diligence loose finding a new Crypto platform while the team at DoNotPay deals with Binance.
Getting More Results With DoNotPay
Are you having issues with other Crypto platforms? Well worry no more, DoNotPay is here to help you.
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