Binance Withdrawal Anti-Scam Measures

The growing popularity of crypto has led to a rise in scams preying on unsuspecting users. To help safeguard investors, Binance employs various anti-scam measures within its withdrawal pages. These measures are designed to ensure a secure and reliable crypto experience for Binance users.

1. Anti-scam questionnaires

Before you can initiate withdrawals, you must complete the Verification Questionnaire. This questionnaire ensures you’re fully aware of the risks involved. The questions cover key facts about your transaction, such as the nature, purpose, and the reasons that prompted you to initiate the transaction. If your answers are insufficient, you’ll be required to provide additional details. You can only proceed with your withdrawal after you pass the questionnaire.

If your recipient has been flagged as high-risk for fraud by multiple Binance users, our system will give you time to assess whether you’re at risk of being defrauded.

2. Warning messages

Attempting to withdraw to addresses that are flagged as high-risk for scams or exhibiting abnormal behavior will trigger warning messages. These alerts aim to educate you on the risks associated with certain withdrawal addresses.

Fake platforms often deceive users into believing they own an “address.” In reality, the address is directly controlled by the fraudulent platform. Remember: Personal wallet addresses are only under your ownership if you have access to the private keys.

Only proceed with the withdrawal after you’ve read the warning message and determined your actions don’t pose any risks.

3. Cool-down periods

Binance restricts withdrawals for various reasons, including abnormal user profiles, transaction patterns, operating behavior, devices, or environmental factors.

For example, Binance may temporarily disable your account’s withdrawals if you repeatedly send funds to a blacklisted address. The cool-down period offers you time to reconsider your actions and consider whether you’re engaging with a scammer.

If you need help identifying the potential risks or you’ve confirmed the withdrawal does/does not carry any risk, please contact Binance Support. Our support team will assist you further on your request.

Note: Binance will never permanently freeze or block your funds due to a potential risk of scams. Instead, our policy is to give you sufficient time to make well-informed decisions. You can withdraw your funds at any time once you verify the transaction poses zero risk.

Binance’s preventative measures are temporary restrictions designed to secure your funds. By staying informed about prevalent crypto scams and scrutinizing the potential risks involved with each transaction, you can safeguard your digital assets and enjoy a safer crypto experience.

Common Types of Scams and How They Work

1. Ponzi scheme

Scammers often organize Ponzi schemes by promoting fraudulent services or products with multiple VIP user levels. These scams typically involve at least three layers of users, though they can have as few as two.

To draw more participants, scammers promise high returns on investments. Funds from new investors are used to repay early investors.

2. Fake shopping website

Fraudsters create counterfeit online stores that allow you to sign up as merchants or consumers. The products listed on these websites often carry significantly lower prices than market rates. However, once payment is made in crypto, the goods are never delivered.

This fraudulent practice can also extend to individual sellers advertising below-market-rate items.

3. Imposter scam / Binance imposter

Some scammers impersonate Binance Support staff to trick you into sending money or sharing their account details. Their tactics may include urging you to take action under the pretext of completing KYC, resolving account restrictions, or accessing exclusive offers.

Scammers will also pose as representatives from third-party organizations, such as government agencies, financial institutions, or other prominent crypto services.

4. Money transfer scam

Scammers may use doctored receipts to falsely claim they’ve sent funds to your bank account before initiating a chargeback.

5. Fake crypto giveaway

Scammers entice you with promises of free crypto, asking for a "small" deposit to secure the prize. This type of scam typically starts with an invite to a Telegram or Discord group.

6. Fake crypto investment

Scammers lure you with investment opportunities that promise guaranteed returns. They might endorse a specific platform or even present themselves as crypto experts, investors, or brokers to gain your trust.

Be wary of “guaranteed returns” that seem exceptionally high or unrealistic. This is a telltale sign of a scam. Perform a background check on the individual or platform before initiating any transactions.

7. Job scam

Scammers create fake job postings, requesting personal information or a “deposit” to receive a nonexistent position and unlock your “full salary.”

8. Romance scam

Scammers establish romantic relationships with you before requesting financial assistance.

Frequently Asked Questions