Binance rejecting deposits from Zcash Shielded Addresses

Binance just rejected my deposit from ZASHI . They are giving me 32 days to wait for an answer from their “specialists”……

I’m fked. Help

1 Like



Look at this . Ridiculous !!!

It seems likely that you sent it from a shielded address and could be why, though I’m not sure.

That’s why. But nobody talks about this. There is nothing on Binance zcash deposit page about this restriction. They are not clear about this when you try to deposit zcash. Honestly, binance SUCKS HARD

1 Like

Adjusted the title. This is not a Zashi unique issue, it could happen to anyone sending from a private wallet.

3 Likes

ZASHI team should make their users aware of this issue.

We are unable to use transparent address as a sender on the official wallet. Cmon….

Zashi team is also aware of the issue and will put the info on the Zashi website.

cc @aquietinvestor if there is something that Binance could post on thier site to better inform users?

1 Like

I’m sorry to hear about the issue with your deposit. Binance has indicated to us that they do not want to accept funds from shielded addresses as part of their compliance measures. They have the ability to reject these deposits and return the funds to the sender; however, this is the first time I’ve heard of such a rejection occurring.

This is why we are developing TEX Addresses, which ensures that transactions to Binance derive from a transparent source. Once Binance implements support for TEX addresses, these problems should be avoided in the future.

I agree it is unreasonable that Binance provides no warning on their deposit page to discourage users from sending funds from a shielded address. I will contact Binance and ask them to include a warning on their deposit page.

16 Likes

This month I have made two deposits into Binance from ZEC armored and they were processed without any problems. I’m not surprised because as aquietinvestor points out, they announced that they don’t want shielded deposits.

But it would be great if just as they indicate that they don’t use the address for mining rewards, in the same way they could start indicating that they will only receive transparent transactions.

I hope they will soon give way to TEX addresses. I don’t like it, but it’s what’s there for now.

4 Likes

Agreed. I’ve contacted Binance about this and will update everyone as soon as I receive a response.

4 Likes

The same to me! :rage: :rage: :rage:

Waiting for support…

3 Likes

The same for me too… :melting_face:

2 Likes

It hsppened to me twice. Use the chat to así for help and give them your transaction’s txid,'s. They’ll ask you some questions and offer a refund to a transparent address. I don’t know how long will the refund take, but the reply was pretty fast

2 Likes

The answer of Binance: I have to wait 32 working days for refund

:rage: :poop:

I am sorry you have this issue :frowning:

For reference, you can force a T2T transaction in Ywallet:

  • Either turn on “Custom Send” in the settings or activate it once by long pressing on the Send button;
  • Deactivate the Sapling & Orchard pools:

  • The transaction summary should show a “VERY LOW” privacy message;
  • Proceed (you may have to override if your minimum privacy settings are higher)

Note: You must unshield if you don’t have enough funds in your taddr.

8 Likes

Update: Binance has added a warning message:

8 Likes

This message box is bad PR but a necessary evil imo until exchanges and regulators decide that privacy is a good thing, not a bad.

They could at least just support UAs from the withdrawal side of things but I doubt they care enough.

3 Likes

As far as I know, only Gemini officially supports shielded Zcash. Giveen all of the conversation about transparent only exchange type addresses and stuff, its kinda surprising to me that Binance ever did.

1 Like

Actually, this is what we suggested that they do way back when all the TEX stuff started up; just warn the customer that if you send from the wrong address then its toast :man_shrugging:

2 Likes

After hours talking with them. They changed the message on deposit page

It seems like I will be refunded. My funds are now “being processed”
As a customer who knows about my rights …:
I was right and they were wrong .

7 Likes