Is your withdrawal suspended on Binance?
Here is the full error message, “Withdrawal suspended due to risk management”.
Or do you get an error “Your account may be at risk”?
Withdrawal issues on cryptocurrency exchanges like Binance are common.
In fact, Binance receives thousands of support requests on the r/Binance subreddit alone.
The subreddit has a weekly support thread where you can post about your case.
However, you need to get a case ID by starting a live chat with binance support first.
But before you contact Binance for help, you need to understand why you are unable to withdraw from the exchange.
This is because in most cases, you just have to wait for some time before you can withdraw from Binance again.
Start on Binance here: https://www.binance.com/en/register?ref=73583477 or use “73583477” as your reference code.
Why is my binance withdrawal suspended?
Binance withdrawal is suspended because there is a system update or you have recently changed your password.
However, it can also be due to an error on the part of Binance.
If there is a system update, withdrawals will be temporarily suspended.
So, you just have to wait until the system update is complete.
If you recently changed or reset your password, you won’t be able to withdraw from Binance for 24 hours.
After 24 hours, you will be able to make withdrawals again.
However, if it is an error from the end of Binance, waiting will not solve the problem.
Instead, you’ll need to contact Binance for assistance.
Here are more details on why your Binance withdrawal is suspended:
1. Updating the system
First, if there is a system update, withdrawals will be temporarily suspended on Binance.
You can check if there is a system update by following Binance’s customer support on Twitter.
Whenever there is a system update on Binance, they will announce it on their website.
In addition, they will also announce it on their Twitter.
If there’s a “System Update Alert” tweet, visit the link shared in the tweet.
Clicking on the link will open the news about the system update on the Binance website.
The news will contain information about the system update such as its time and duration.
For example, if the system update lasts 2 hours, you will see a phrase that says “The update will take about 2 hours”.
This means that you have to wait 2 hours before you can make withdrawals on Binance again.
The time of the system update will also be displayed (e.g. 2021-04-20 2:00 AM (UTC)).
2. Changing your password
Secondly, if you have recently changed or reset your Binance password, withdrawals will be temporarily suspended.
When you’re on the “Change Login Password” page, you’ll see a warning at the top.
The notice states that withdrawals will not be allowed for 24 hours after the security changes.
The temporary suspension of withdrawals is due to security reasons.
So, if you have recently changed or reset your Binance password, you have to wait 24 hours before you can make withdrawals again.
After that, the error message will be automatically removed.
How to Fix “Withdrawal Suspended” on Binance
To fix “Withdrawal Suspended” on Binance, you can wait or contact binance support for assistance.
If there is a system update going on or you have recently changed your Binance password, you have to wait.
Withdrawals will be available again once the system update is complete.
After changing your Binance password, you will only be able to make withdrawals after 24 hours.
However, if there is no system update in progress or you have not changed your password, it means that the problem may come from the end of Binance.
In that case, you should contact Binance for assistance as you will not be able to solve the withdrawal problem yourself.
Here’s how to fix “Withdrawal Suspended” on Binance:
1. Wait
The first method to fix the “Withdrawal Suspended” issue on Binance is to wait.
However, before you do that, make sure you understand why you are not able to make withdrawals from Binance before.
If there is a system update in progress or you have recently changed your Binance password, you have to wait for withdrawals to be reactivated again.
If there is a system update going on, there will be an announcement post about it.
You can find the link to the post by visiting Binance’s customer support on Twitter.
The post will mention the duration of the update.
For example, if the update takes 2 hours, you’ll see a phrase that says “The update will take about 2 hours.”
On the other hand, if you have recently changed your binance password, you have to wait 24 hours to make withdrawals due to security reasons.
However, if you are not experiencing a system update or have not changed your password recently, the wait is redundant.
Instead, you’ll need to contact Binance Support for assistance.
2. Contact Binance Support
The second method to fix the “Withdrawal Suspended” issue on Binance is to contact binance support for help.
First, go to Binance’s website and log in to your account.
Then, click on the chat icon at the bottom right of the website.
After clicking on the chat icon, you will land on a live chat.
In the live chat, select “Crypto Withdrawal”.
Alternatively, you can open the live chat by visiting this link: https://www.binance.com/en/chat.
Then, select the most appropriate option related to your problem (for example, Unable to withdraw cryptocurrencies).
After selecting an option, you’ll need to wait for a customer support representative to chat with you.
Describe your withdrawal problem to the representative and follow their instructions.
If your case has not yet been resolved, you can submit its ID on Binance’s weekly support thread on r/Binance.
The moderators will then send your case to Binance’s support team.
Conclusion
Cryptocurrency exchanges like Binance are increasing in popularity.
As a result, more and more users join the exchange, which will lead to more requests for support.
On Binance, withdrawal issues are common and it can be difficult to get in touch with Binance’s support.