WARNING! Binance SCAM!

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MaxGravy
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WARNING! Binance SCAM!

Postby MaxGravy » Tue Jun 11, 2019

I deposited some LRC into my Binance account and it disappeared. They say it can be recovered but they want to charge me .01 BTC to accomplish it. SCAM!

They said LRC is not listed at Binance, but this is not true. I looked it up at Binance before transferring and they gave me an address to send it to.

Here's the transaction ID showing that it transferred to the address they gave me:
0x30a20f5fa8969544488175cb95aefaf30a2e1bad5400b1553a6b66a8e97f69a5

Here's the screenshot I took before making the transfer:
LRC-listed-on Binance.jpg
LRC-listed-on Binance.jpg (187.3 KiB) Viewed 480 times


And here's their reply to my email:
Thank you for your inquiry.

As per checking, the token ERC-20 (LRC) you have deposited is not listed in Binance.

It's likely we will be able to recover your funds, however, there may be a significant delay. Many people have made similar mistakes, thus, our queue is quite large. On top of this, our technical team must handle each case individually.

Due to the time and effort involved in manual retrieval, we require a processing fee of 0.01 BTC. Kindly be noted that if Binance ever decides to list the coin in the future, your funds would be available at the time of listing. However, the listing time is never guaranteed.

If you would like your funds returned as quickly as possible, please ensure that you have 0.01 BTC in your Binance account and send us the correct address you would like us to retrieve to(not your Binance address). And please note that 0.01 BTC is the costs and expend of helping you retrieve your funds quickly, you may have a consideration about this.

Let us know your updating. Once we receive your information and confirmation, we will escalate and return your funds as soon as possible.

Thank you for your cooperation.
I'm clearly not very bright.

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natsb88
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Re: WARNING! Binance SCAM!

Postby natsb88 » Tue Jun 11, 2019

Where did you send the LRC from? I haven't kept up with cryptos lately but I see that LRC went through a smart contract upgrade in May. Is it possible you had an older version of the token, not held on a platform that automatically supported the contract upgrade? Sounds like most wallets and exchanges were supported though.

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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Tue Jun 11, 2019

natsb88 wrote:Where did you send the LRC from? I haven't kept up with cryptos lately but I see that LRC went through a smart contract upgrade in May. Is it possible you had an older version of the token, not held on a platform that automatically supported the contract upgrade? Sounds like most wallets and exchanges were supported though.


It was on a MyEtherWallet (MEW).
I'm clearly not very bright.

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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Tue Jun 11, 2019

Just looking through my transaction history. I actually traded LRC on Binance several times. 4 months ago I moved the remaining to the wallet.
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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Tue Jun 11, 2019

I traded ETH for the LRC on January 14th and February 5th of this year last year. Each time I transferred it to the MEW. All of this was done on Binance and it's still in my transaction history.

edit: this was last year. I'm still living in 2018.
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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Wed Jun 12, 2019

Here's the latest email. It looks like they gave me the wrong address yet they still want me to pay the extortion money to unlock my LRC. How can they get away with this? Is there a regulatory agency where I can complain? Or am I just SOL?

Dear Randy,

Thank you for your inquiry.

We apologize for all the frustration that you have experienced due to this situation.

Please check below announcement for reference:

https://binance.zendesk.com/hc/en-us/ar ... ct-Upgrade

Please note we have updated the contract address of LRC.

The previous contract address of LRC is 0xef68e7c694f40c8202821edf525de3782458639f.
The current contract address of LRC is 0xbbbbca6a901c926f240b89eacb641d8aec7aeafd.

We respect your decision if you do not want to recover your ERC20 LRC.

If you want to recover your ERC20 LRC in the future, you can contact us again.

Thanks for your support and understanding.

Best Regards,
Binance Support Team
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Re: WARNING! Binance SCAM!

Postby natsb88 » Wed Jun 12, 2019

I was looking at Etherscan last night and wondered if that was an old contract address.

When you made the deposit on 6/8, did you go to the Binance wallet page and copy the address fresh? Or did you use a saved address from a previous transfer?

If you copied it fresh on 6/8, then it's completely on them for displaying the wrong deposit address. If that screenshot is from 6/8, then they should not be charging to recover the funds they directed to the old address. They forgot to update the deposit address to the new upgraded contract.

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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Wed Jun 12, 2019

natsb88 wrote:I was looking at Etherscan last night and wondered if that was an old contract address.

When you made the deposit on 6/8, did you go to the Binance wallet page and copy the address fresh? Or did you use a saved address from a previous transfer?

If you copied it fresh on 6/8, then it's completely on them for displaying the wrong deposit address. If that screenshot is from 6/8, then they should not be charging to recover the funds they directed to the old address. They forgot to update the deposit address to the new upgraded contract.


I got that address fresh. The screenshot is from 6/8. I always take screenshots when dealing with any crypto.
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Re: WARNING! Binance SCAM!

Postby natsb88 » Wed Jun 12, 2019

Sure seems like their mistake.

I think I'd try posting in the Binance reddit. Maybe don't use the word "scam" though. Supply the evidence and ask for an explanation. Let people see that Binance screwed up and wants to charge you to fix it.

https://www.reddit.com/r/binance/

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Bucketeer
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Re: WARNING! Binance SCAM!

Postby Bucketeer » Wed Jun 12, 2019

I agree - those reddit users will be screaming like orphan children when they hear your story. Good luck!
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Re: WARNING! Binance SCAM!

Postby SilverDoge » Fri Jun 14, 2019

natsb88 wrote:Sure seems like their mistake.

I think I'd try posting in the Binance reddit. Maybe don't use the word "scam" though. Supply the evidence and ask for an explanation. Let people see that Binance screwed up and wants to charge you to fix it.

https://www.reddit.com/r/binance/


Do this. Reddit users can be quite smart on these type of issues and exchanges don't like bad Reddit press.
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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Fri Jun 14, 2019

I made an account and posted in r/BinanceExchange but I don't see my post. So I tried again in r/Binance. Still nothing. I'm not at all familiar with reddit. Am I missing something? I'm maxgravy there as well.
I'm clearly not very bright.

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SilverDoge
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Re: WARNING! Binance SCAM!

Postby SilverDoge » Fri Jun 14, 2019

MaxGravy wrote:I made an account and posted in r/BinanceExchange but I don't see my post. So I tried again in r/Binance. Still nothing. I'm not at all familiar with reddit. Am I missing something? I'm maxgravy there as well.


Reddit can be an odd beast. Oftentimes you need a certain amount of karma before you are able to post a topic in popular locations. You have to start out by making comments on other threads first. Not sure if this is the exact issue, but it is the case for r/cryptocurrency
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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Fri Jun 14, 2019

So basically reddit is worthless for this.

Are there any regulators or agencies where I can file a complaint? Or did I just lose all my LRC?

I was very stupid to get into these crapcoins.
I'm clearly not very bright.

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natsb88
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Re: WARNING! Binance SCAM!

Postby natsb88 » Fri Jun 14, 2019

MaxGravy wrote:Are there any regulators or agencies where I can file a complaint? Or did I just lose all my LRC?

Not really at this time, the lack of central regulation is kind of the appeal of crypto to many. Plus Binance isn't an American company. Founded in China, moved to Japan, offices now in Taiwan.

In fact Binance will be blocking US accounts from depositing and trading in September because of US regulations.

But they are licensing their platform to another company that will be opening a US version of Binance, they are hoping before September.

MaxGravy wrote:I made an account and posted in r/BinanceExchange but I don't see my post. So I tried again in r/Binance. Still nothing. I'm not at all familiar with reddit. Am I missing something? I'm maxgravy there as well.

So your post in /BinanceExchange got tagged as NSFW and removed

binanceexchange.JPG
binanceexchange.JPG (18.33 KiB) Viewed 178 times


and your post in Binance was also removed

binance.JPG
binance.JPG (19.9 KiB) Viewed 178 times


What the heck? Either members reported as spam or mods are protecting Binance :shock:

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MaxGravy
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Re: WARNING! Binance SCAM!

Postby MaxGravy » Fri Jun 14, 2019

:roll: Geez, I took my time, wrote a concise and thoughtful post. I never would have expected it to be removed.

I've pretty much given up. I got scammed. The thieves at Binance know exactly what they're doing.
I'm clearly not very bright.

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Bucketeer
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Re: WARNING! Binance SCAM!

Postby Bucketeer » Fri Jun 14, 2019

I feel for you, but the warnings have been posted here numerous times. Sorry about your luck Randy.
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Re: WARNING! Binance SCAM!

Postby SilverDoge » Fri Jun 14, 2019

This honestly just sucks. I hate for peoples first foray into crypto to be such a bad experience. I had hundreds of thousand of Dogecoins ripped off from me in a hot wallet when I first got into crypto. The real first movers to bitcoin got Mt.Goxxed and taken to the cleaners. No real recourse. I once sent ETH to a scam ICO address that got hacked moments before the ICO went live. Crypto is the unregulated wild west. I've never had an issue with Coinbase but it is a regulated US Exchange. Binance, and all those outside US jurisdictions are always a roll of the dice. I've never had a problem with Binance before so this is a bit surprising. I've removed all my crypto from Binance due to their latest announcement though. The problem is that if one wants to acquire most alt-coins, the most convenient way is through one of these exchanges. Sorry for your troubles.
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Re: WARNING! Binance SCAM!

Postby Rodebaugh » Fri Jun 14, 2019

Cashed out of Binance this evening.

HODL till' BROKL

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Re: WARNING! Binance SCAM!

Postby Schwartzy » Sat Jun 15, 2019

I really hope this gets resolved bro. I pulled off all my crypto off Binance because of the recent news. I wish you luck brother.

Joseph


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