# Binance Returns Frozen BTC After User ‘Promises’ Not to Use CoinJoin



## CrunkLord420 (Dec 21, 2019)

https://cointelegraph.com/news/binance-returns-frozen-btc-after-user-promises-not-to-use-coinjoin

tl;dr a Binance user tried to withdraw some BTC to a CoinJoin address. This triggered their automated risk management system, and the user had his funds withheld until he promised not to try to mix them.

Not going to copy-pasta the article to avoid hitting the sites SEO.


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## WeWuzFinns (Dec 21, 2019)

He should've read the user agreement. Generally users have no rights so there is no need to pretend to be surprised when they get screwed over. Niggas relying the state to take care of them, but the over reliance just makes their asses sweeter to fuck.


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## HarveyMC (Dec 21, 2019)

WeWuzFinns said:


> He should've read the user agreement. Generally users have no rights so there is no need to pretend to be surprised when they get screwed over. Niggas relying the state to take care of them, but the over reliance just makes their asses sweeter to fuck.



How much are bitcoins worth each? Like 7500 dollars? Businesses are not allowed to hold your money hostage for trying and switch to a competitor, that is extremely illegal, and I wouldn’t be surprised if the Feds intervene over this


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## CrunkLord420 (Dec 21, 2019)

Regulators want Binance to crack down on the use of mixing service withdrawals. They didn't steal anyone's money, they're just doing what regulators probably call "due diligence".

The point of the article is to notify Binance users to avoid doing this, if you're going to mix use a fresh wallet to get it off of Binance first.


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## WeWuzFinns (Dec 22, 2019)

HeyItsHarveyMacClout said:


> How much are bitcoins worth each? Like 7500 dollars? Businesses are not allowed to hold your money hostage for trying and switch to a competitor, that is extremely illegal, and I wouldn’t be surprised if the Feds intervene over this


Bitcoins are assets not money tough, only fiat is recognized as money by the governments. If you rent a storage hall for your physical assets and don't pay the rent or break the agreement you have 30-90 days to retrieve your assets before they are auctioned off.

In this situation the person broke the agreement, though the conditions were subjective he still agreed to them. And in this situation, the company who banned him from using their services, also owns all the vehicles needed to transport his assets off their facility. Never trust the state nor corporations, with democracy they're basically the same.


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## ⠠⠠⠅⠑⠋⠋⠁⠇⠎ ⠠⠠⠊⠎ ⠠⠠⠁ ⠠⠠⠋⠁⠛ (Dec 30, 2019)

WeWuzFinns said:


> Bitcoins are assets not money tough, only fiat is recognized as money by the governments. If you rent a storage hall for your physical assets and don't pay the rent or break the agreement you have 30-90 days to retrieve your assets before they are auctioned off.
> 
> In this situation the person broke the agreement, though the conditions were subjective he still agreed to them. And in this situation, the company who banned him from using their services, also owns all the vehicles needed to transport his assets off their facility. Never trust the state nor corporations, with democracy they're basically the same.


I get your point, but in this case, Binance should put up a big banner on their site saying

DON'T USE OUR SERVICE WE ARE USELESS

The exchanges which kow-tow to this nonsense now, are just cementing the concept that in six months to a couple years down the road, they will agree to monitor the outputs of all customer withdrawals, and freeze accounts used in any sort of coinjoin and report those users to a regulator.


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## Particle Bored (Jan 12, 2020)

3119967d0c said:


> I get your point, but in this case, Binance should put up a big banner on their site saying
> 
> DON'T USE OUR SERVICE WE ARE USELESS
> 
> The exchanges which kow-tow to this nonsense now, are just cementing the concept that in six months to a couple years down the road, they will agree to monitor the outputs of all customer withdrawals, and freeze accounts used in any sort of coinjoin and report those users to a regulator.


I havent used them since the main exchange shut out US customers. Moved my remaining alts to Kucoin and didnt even bother making a Binance.us account (although, Ive long prior decided I'm a shit trader and had already liquidated most of my alts to BTC, so dont have a ton of use for them).


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