October 21, 2020

Binance started blocking withdrawal of funds to Wasabi bitcoin wallet

Social network users complain that the Singapore branch of the Binance exchange is blocking the withdrawal of funds to privacy oriented Wasabi wallet.

Chief Developer Wasabi Wallet Adam ‘nopara73’Fichor called the actions of the popular exchange "a terrible and first of a kind precedent." According to him, it is noteworthy that six months ago Binance was going to invest in its product.

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Ficor referred to a tweet from user Catxolotl, who spoke about an unsuccessful attempt to withdraw bitcoins from Binance Singapore to his Wasabi wallet.

“Not surprised that my transactions are tracked, this is KYC in the end. But I am very concerned that Binance knew that I was sending funds to Wasabi. All I entered is the address bc1, no more than ", - the user complained.

According to the attached screenshots of correspondence with Binance, Catxolotl received the message “Withdrawal suspended due to risk management”.

In a response letter, exchange representatives asked the user about the purpose of withdrawing funds to Wasabi Wallet, and also asked Catxolotl to provide documents on his occupation and income.

Binance started blocking withdrawal of funds to Wasabi bitcoin wallet

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Recall that in November, Wasabi Wallet raised $ 337,500 from investment firm Cypherpunk Holdings. ZkSNACKs Ltd. Developer Company valued at $ 7.5 million

Recently, a new version of the Wasabi Wallet wallet was released, where the user experience is improved, productivity is improved, various functions are added and redesigned.