Are you an active WhiteBIT user and suddenly received a letter about an AML freeze on one of your deposits? We understand that the list of requested materials to confirm the transaction may make you worry about the safety of your funds.

That is why in this article, we will try to understand the reasons for this situation and the options for solving it.

Why does the freeze trigger?

In its work, WhiteBIT is guided by the principles of transparency and "cleanliness" of funds, observing security rules and acting within the legal framework. For this purpose, WhiteBIT uses a risk-based approach to counteracting/preventing money laundering and/or terrorist financing (Anti-Money Laundering).

The risk level of a particular transaction is determined using a specially developed complex system, including the use of high-performance tools.If a transaction is unauthorized, erroneous, fraudulent, anomalous, or unlawful, or if we have detected any other high-risk operations inconsistent with our internal Compliance procedures, such transactions may be considered suspicious and frozen on the basis of clause 4.4. of the User Agreement.

Important: WhiteBIT guarantees the security of your funds while holding them until the transaction is verified.

What happens to funds when they are suspended due to additional data being required?

If the transaction review does not reveal any signs of involvement in illegal activity, the funds will be unfrozen and successfully credited to your Main balance. We will notify you of this by email.

In addition, some transactions may be eligible for a Refund. In this case, the Support team will notify you accordingly.

Let's look at the algorithm of actions in this case.

As soon as your transaction gets the status "Canceled", you can create a request for Refund. To do this, go to the "History/Deposits" section.

1. Open the details of the relevant transaction and click on the "Refund" button. Please note that this button will only be available on a case-by-case basis and only for transactions that have been approved for a refund.

2. After that, in the "Request to refund" window, you need to indicate the address to which the funds will be sent.

Please note! The address you provide for the refund must not belong to our exchange. Also, please make sure that all the details are correct, as this transfer cannot be cancelled or resent once confirmed.

3. Confirm the creation of the "Refund" application. You will receive a code by e-mail. Enter it in the appropriate field in the confirmation window. You will also need to enter the 2FA code (if the function is enabled on your account).

4. If a positive decision is made to refund the funds, you will see the inscription "Funds have been refunded" when you go to the transaction details in your personal account.

Questions you might have:

How long does it take to process a transaction refund request?

The review period depends on the individual characteristics of each case and can vary from 24 to 72 hours from the date of submission of the materials in full, provided that no additional questions arise regarding your situation.

What is the fee for Refund?

The network fee will be automatically charged when the transaction is sent. No additional fees are charged by the exchange.

Is a refund of frozen funds always available to me?

The return of a frozen transaction is a decision that can take a long time to make, depending on each individual situation. It is also possible that the decision may be reconsidered.

Therefore, Refund is available not to every user and only in certain cases.

Where can I find the AML policy?

All AML information is available in the relevant section of our exchange.

How can I protect my funds from being frozen?

Before making a transaction, we recommend that you check the address from which funds will be transferred to your balance for any connection with high-risk platforms.

What is happening to my funds during the freeze period?

WhiteBIT guarantees the security and safety of your funds throughout the entire additional verification process. 

We would like to assure you that if your funds are not involved in any illegal activities, passing this verification will not be a difficult process.

Support

In case of any questions related to the functionality of our exchange, you can:

• Leave a request on our website;
• Write to the support email: support@whitebit.com;
• Write to the chat using the button in the lower right corner of the screen (in the upper right corner of the WhiteBIT app, click ).