Consumer complaint received 2022-01-22
Company: BAM Management US Holdings Inc.
State: IN
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
In XX/XX/XXXX due to this articleXXXX XXXX XXXX I submitted the Tron coins to the Binance ETH address. They never arrived. 

I opened 3 support tickets that were closed. 

Your support ticket is # XXXX. Was closed automatically. XX/XX/XXXX Your support ticket is # XXXX. Was closed instantly. XX/XX/XXXX Your support ticket is # XXXX. Created on XX/XX/XXXX XX/XX/XXXX asked for Update- No response. 
XX/XX/XXXX asked for Update-No response. 
On XX/XX/XXXX Received the following : XXXX ( Binance.US ) XX/XX/XXXX, XXXX XXXX XXXX, I hope all is well. Thank you for contacting Binance.US. I want to apologize for the delay in response and thank you for your patience as we have been experiencing a continuous influx of tickets requested and transitioning our support to meet market demands. I can assure you that your issue has not been overlooked! We have had a surge in customer inquiries over the past few monthswhile we try our best to respond back as timely as possible, it is taking us a bit longer than usual to respond back to each customer. 

I was able to locate your missing deposit for XXXX XXXX  Upon further review, this deposit was unsuccessful as XXXX is an unsupported asset on our exchange. Subsequently, your XXXX assets were sent to an unsupported deposit address. Your deposit may be recoverable, but we will need to have one of our technicians attempt to extract the assets manually ; please note, this will incur a processing fee of XXXX BTC for Unsupported Asset Recovery. 

If you agree to this XXXX BTC processing fee, please ensure that XXXX BTC is in your account and respondvia this email threadwith your written consent along with the following information below. From there, we will begin the asset recovery process. 

XXXX : If you havent already, please send us the transaction ID of the digital asset that you sent to Binance.US. You should be able to locate this in the wallet that the asset was sent from. 

Return Address : Please also send us an address where you would like Binance.US to return your asset. Please make sure that this address is for the correct asset and network and does not contain any errors. Binance.US is not able to recover any assets that are sent to an incorrect address provided by the user. 

Note that we can not guarantee when Binance.US will recover this asset, but well do our best to keep you informed. 

I appreciate your understanding during this time. 

Thank you for your patience. 

Respectfully, XXXX Customer Success Binance.US I responded asking how I was being charged, when their company websites said they would convert as needed by sending to the Ethereum address, which I did. 

On XX/XX/XXXX I receive, XXXX ( Binance.US ) XX/XX/XXXX, XXXX PDT Hello, Thank you for your patience during this time. My name is XXXX and I am here to provide an update on the situation around your missing assets. I have received word from our recovery team that we are unable to securely provide a return of your assets. 

In reviewing this deposit, it has not been credited as the asset or network involved is not supported at Binance.US. The list of assets that Binance.US currently supports is available on its website HERE. 

In the future, please exercise caution when sending assets and consider initiating a test transaction to confirm the asset reaches your account before sending larger amounts. For more details, refer to our FAQ article HERE. 

Again, I apologize for the inconvenience of this process and that we were unable to provide a service of return. 

Binance.US Customer Support Representative XXXX. 


I asked how the collegue was able to find, but when I asked why I was being charged to process what their website was stated to do, they could no longer find it. 

I have not heard anything since XX/XX/XXXX. 
It sits as an open case, with no resolution for over 1 year, for over {$1000.00}. Having read online about issues, this is a common fraud that Binance.US is doing to many people with funds " not arriving '' despite having prove, that funds were transferred to Binance addresses.

Company response to consumer: Closed with explanation