Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01397
Binance announced new identity verification requirements for all users as part of
ConstrainedCase description
In November 2025, Binance announced new identity verification requirements for all users as part of a global compliance upgrade. Users in affected jurisdictions who had not completed enhanced KYC found their accounts restricted to view-only access—they could see balances but could not withdraw until reverification was complete. The number of users affected was not disclosed but was estimated in the millions based on Binance's disclosed user base. Users who had left Bitcoin on Binance for extended periods without engaging with the platform were disproportionately affected, as their KYC records were most likely to be outdated.
Custody context
| Stress condition | Vendor lockout |
| Custody system | Exchange custody |
| Outcome | Constrained |
| Documentation | Unknown |
| Year observed | 2025 |
| Country | International |
Structural dependencies observed
What this illustrates
Getting access back required help from an institution — and that help wasn't available. Whether full access was ultimately possible is unclear, but significant delay or outside intervention was involved.
Outcome interpretation
Access remained possible, but only with delay, dependence, or significant difficulty.
Source
Publicly Reported
Evidence type
News article
Evidence link
Related cases involving vendor lockout
This archive documents observed custody survivability failures. It does not attempt to document all Bitcoin losses or security incidents.
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Framework references
Where Bitcoin Custody Intersects Legal and Fiduciary Authority
Where custody creates gaps in estate planning, fiduciary duty, and professional responsibility.
Professional Scope Boundary Matrix
What each professional or product covers, what they do not, and where gaps form between them.
The Independent Assessment Layer in Bitcoin Custody
How independent diagnostic layers emerge when multiple parties depend on shared infrastructure.
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