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How to Fix “Withdrawal Suspended” on Binance
Hey there. Are you a Binance user? If yes, then you must have or will surely in the future face the problem labeled “Withdrawal Suspended”. So, if you yet do not know how to fix this issue, it is high time that you know. The message you will get on your screen is: “Withdrawal Suspended Due to Risk Management”. The error could also be presented as “Your Account May be at Risk”.
Issues related to withdrawal are absolutely common on every cryptocurrency exchange platform and happens with everyone. The first piece of advice is not to panic because you are not the first person to face it. Let us have a look at the different ways in which you can fix this error.
To search for answers for one of the most asked questions for the Binance exchange, let us dive a bit deeper.
In case you receive any such error notifications, your first task will be to report the matter to Binance Support because for any further step regarding this matter, you need a Case ID. You can obtain the Case ID as you start a live chat with the Binance support team. Connecting with the Binance support team is not rocket science. But you have one small share of tasks before you do this. You have to sneak into what may be the root cause of the matter. That makes it easier to solve.
The reason you need to find the cause first is that sometimes there is no cause. Yes, that may sound weird, but sometimes it is just the network issue and in some time you will be able to continue with the withdrawal.
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Probable Reasons Behind Withdrawal Suspension
1. System Upgrade
If the system is getting upgraded, the withdrawal process will remain suspended temporarily. This is a common issue not only on Binance but on all crypto exchange platforms. All you have to do is keep following the Twitter handle of Binance Customer Support. They update the users on system upgrade news on their Twitter handle. They also make a vivid announcement on their website. So there are various ways you can find out about the upgrade and be sure that it is not your problem but a temporary suspension in general.
When you find out about the system upgrade notice, follow a link and you will get the information regarding the duration of the system upgrade. So you know when to expect this suspension and till what time.
2. Password Change
Binance Withdrawals can be temporarily suspended if you have recently changed your password. Binance gives a statutory warning to the user when you are about to change your password, that after a password change, withdrawals will remain suspended for 24 hours.
There is nothing to get freaked about. This temporary suspension is for security alignment reasons and gets back to normal on its own without intervention. The error message will persist as long as the withdrawal remains suspended but once the time for suspension is over, the error message will be removed on its own. Hence if you have just changed your password, be prepared for temporary withdrawal suspension.
How to Fix “Withdrawal Suspended” on Binance
Before being impatient or doing anything at all when you find the withdrawal suspension notice, wait for some time. Most of the time, the withdrawal process comes back to form after some time on its own. Many times there is a scheduled suspension of the withdrawal and that too temporarily as in cases like system upgrade that has been already discussed. However, if you have waited for more than 24 hours with no results and there are no announcements available on their website or Twitter handle about the system upgrade, you have to move to the next step.
2. Connect With Binance Support
Now if you have already waited too much, it is time for you to contact the Binance support team. Visit the Binance official website and log into your account with your valid credentials. On the bottom right corner of the page that opens up, you will come across an icon that represents chat. As soon as you select the chat icon, you will encounter a live chat section. On the live chat section, choose the option “Crypto Withdrawal”. Now you can move forward as the system prompts you. You will get many options before you.
Choose the one you find to be most appropriate. There is usually an option as “Cannot withdraw Crypto”. This option is usually the best to select. After successful submission of your problem, the Binance executive will reach out to you via live chat and you can describe your problem elaborately to the representative for them to help you out. Generally, the customer executives are supportive and help you to deal with your problem. Once they give you instructions on how you can resolve the issue, stick to it and follow the steps chronologically.
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