Big transfer from Phantom to Binance not executed

Hi community…please i need urgent help!!!

I did the below transfer from Phanton to Binance… and i havent received it yet.

5AtVdraFAWotm2UbsPAtNjP37L2MSN3TQtrQKVYBATHeUEmb7SnJgk2hxhnLuWyhg5Aduot47ZGLwrtmJCG6xov3

Few minutes after the above one, i did another one. Which was received without problems.

egn7UTbRJutTJuSHrX6iB8NRsUYUXhAZEUT1Nx1R3aPXZofUUBGoh8vQ7kDg3t9UGWgyT6WkUywJRtVzEAHJx2F

Both addresses match. I reviewed multiple times. Im not sure if the delay is due to the amount.

I raised the concern to Binance but still no reponses, it will take them 1 week. I havent slept in 3 days, this situation is taking my breath away.

Can someone take a look at both transactions and confirm all is good and this is something Binance should fix?

thanks!!!

Hi @OLIOT and welcome to the forum. :wave:

I’ll take a look at those transactions as soon as I get the chance. I don’t have access to the chain right now, but I’ll let you know as soon as I do.

After checking out the transactions, it looks like your funds have been stolen. :frowning_face_with_open_mouth: Sorry you lost your money!

If you go to your wallet page in the Solscan network viewer ( see here ), you can see on the “SPL Transfers” tab that your tokens were immediately transferred out of the wallet after you sent the transaction.

You are not the only one who has run into this problem. On Reddit we can see that a lot of other users have run into the same thing, with apparently no help from Binance on the issue.

How did you get the address that you transferred the tokens to? Was it the real Binance website, or could it have been a fake website pretending to be Binance?

OMG, first of all thanks for your answer.
How is that possible in blockchain? I transferred from my phantom to binance, i got the address straight from my binance app. as i normally do. I used the same information in both transactions, why the 2nd arrived without problems? Both addresses in “destination” are the same and correct, meaning that is my binance wallet address. Is the security problem inside the solana network or in binance?

Really appreciate your comments here, beyond the amount which is trully significant for me, I get to realize that the blockchain technology can be hacked now. Is this correct?

No, the blockchain has not been hacked. It has done exactly what it was supposed to, in this case it would be Binance not doing their job right. It is Binance that actually controls the address you sent your money to, so if anything goes wrong receiving that transaction, and the transaction shows up correctly in the blockchain ledger ( like it did ) then it is Binance’s fault.

Oh, you can actually see the money from the second transaction? That’s could mean something.

OK, that leads me to a new theory. From the transactions on the blockchain it looks like the first transaction you sent was the first time you ever sent USDC to that Binance address right? I have also heard that other people have the same problem of some transactions working and some transactions not working. I think there’s a possibility that it’s only the first time you send a new kind of Solana token to Binance that it doesn’t work.

When you first receive a new kind of SPL token in a Solana wallet, there’s some first-time setup that has to be done to make the wallet ready to hold that kind of token. It’s Binance’s job to make sure this happens correctly when you send money to a Binance wallet. From the solscan page it looks like the first time setup was successfully done, but for some reason Binance is just not crediting you the tokens that you transfered.

So it appears that Binance is busted. This is definitely their problem to fix. Solana is working just fine and has not been hacked.

@Rerey I think this might be the same issue you had. Is this the first time that you have ever tried to transfer USDC to your Binance account?

It appears that Binance is at least partially broken. They should really fix this for you guys.

yes, it’s just this time for me to transfer via usdc, is there no way to get it back

Pada tanggal Rab, 10 Nov 2021 02.53, Zicklag via Solana <solana@discoursemail.com> menulis:

When you first receive a new kind of SPL token in a Solana wallet, there’s some first-time setup that has to be done to make the wallet ready to hold that kind of token. It’s Binance’s job to make sure this happens correctly when you send money to a Binance wallet. From the solscan page it looks like the first time setup was successfully done, but for some reason Binance is just not crediting you the tokens that you transfered.

This is the same interpretation i did. Also same interpretation from my friends with more knowledge reading the solscan. “Owner” is my binance wallet for both transactions. 5 min difference between them.

And, yes, that was my first transaction ever with USDC to Binance.

Is amazing how Binance takes a full week to come back on this and there is not a single way to contact a representative. I hope everything gets clarified and funds recovered.

Thanks again for your support! Ill let you know how it goes in case the event happens again to someone else.

Binance finished the “manual review process” and it moved to “processing funds”. They also extended deadline to complete the process for 1 week.

Im assuming this is good news and they will refund. Do you guys know how it works? It will be great to eliminate the uncertainty and be in peace this upcoming week.

It’s pretty much got to just be the way that Binance processes funds in the background. They essentially give you a wallet address to transfer your funds to to get them into your Binance account, and then they automatically transfer the money out of it into their own massive Binance wallet where they keep everybody’s money.

When they transfer it automatically to their big Binance wallet, it they are supposed to add it to their internal record of that money belonging to you, but apparently they didn’t. They should absolutely be able to fix it, and they have the Solana blockchain history to prove that it was indeed your money before your transferred it.

It is fully within their power to fix, so if they don’t fix this, I would never use Binance again.

Hi oliot, I had the same problem as you, I sent usdc from phantom to my binance account on Friday and finally today they deposited the usdc, so I hope they also deposit you these days.

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Hi Gaston, yes finally they did!!! Hope you enjoyed the news as much as i did… cheers!

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Yay! :tada:

And now we know about that mysterious address. :slight_smile:

Very good to know.

For the sake of future people with search engine’s looking for this address: 2ojv9BAiHUrvsm9gxDe7fJSzbNZSJcxZvf8dqmWGHG8S.

This address appears to be Binance’s real address, but apparently they fail to register your transactions into your Binance account successfully, it appears, when you first transfer tokens into your account. Good news is that it looks like Binance can fix it if you contact them, the only bad news is that you have to wait for them to get back to you.


If this post helped you I’d really appreciate a tip, no matter how small, in whatever Solana or SPL tokens you prefer. It will help me spend time helping people on this forum and learning more about crypto. My wallet address is 9ftYTyetEXtLtDkhfRF8bCWGfKZqiYmx2HDZDTogZh6A . Thanks!