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Why Are My Assets Frozen?

it perpvia
Updated

This article explains the possible reasons why your assets may be frozen on PerpVia and provides specific steps to resolve the issue.

Table of Contents:

 

Common Reasons for Asset Freezing

Your assets may be frozen due to the following situations:

1. KYC and Compliance Requirements

  • Incomplete KYC Verification: If your identity verification is not completed, withdrawals and transfers may be restricted to comply with regulatory requirements.
  • Regulatory Freezing: Certain transactions may trigger reviews due to legal or jurisdictional requirements, temporarily freezing your assets.

2. System Processes and Platform Maintenance

  • Pending Withdrawals: If you are processing a withdrawal, the corresponding assets may be frozen until the transaction is completed.
  • Platform Upgrades or Maintenance: During scheduled system maintenance or upgrades, some assets may be temporarily restricted.

3. User-Initiated Restrictions

  • Account Settings: Features such as withdrawal whitelist mode or manual asset locking may limit your access to funds.
  • Temporary Freezing: You might choose to enhance account security by using the asset freezing function.

4. Pending C2C Orders

  • When creating sell orders or posting ads in the C2C market, the cryptocurrencies involved in the transaction will be temporarily locked.
  • These assets remain frozen until the order is completed, canceled, or enters dispute resolution (if applicable).

5. Open Orders in Spot, Contract, or Copy Trading

  • In spot or contract trading, open orders (such as limit orders, stop-loss orders, etc.) freeze the corresponding amount of assets to ensure order execution.
  • When participating in copy trading, funds allocated to strategies are also frozen to automatically complete trades.
  • These assets cannot be used until the orders are completed or canceled.

6. Security Issues

  • Detected Suspicious Activity: If the system detects suspicious behavior (such as unfamiliar login attempts or unexpected large transactions), assets may be frozen.
  • Security Review: If the account is flagged for a security review, assets may be temporarily restricted to ensure safety.

7. Violation of Platform Policies

  • Suspected Fraudulent Activity: Accounts involved in fraud, money laundering, or similar activities may have their assets frozen.
  • Violation of Terms of Service: If PerpVia’s policies are violated, assets may be restricted or the account may undergo review.

 

How to Resolve Frozen Asset Issues

To resolve asset freezing issues and regain access, please follow these steps:

1. Check Notifications

  • Go to the PerpVia Notification Center to view any alerts or notices related to asset freezing.
  • Look for updates regarding security holds, compliance requirements, or maintenance.

2. Complete or Update KYC Verification

  • Go to Authentication in your account settings and submit or update the required identification documents.
  • KYC verification is usually completed within 24 hours.

3. Cancel Open Orders (if applicable)

  • If assets are frozen due to open orders, go to the trading page, find the related orders under Open Orders, and click Cancel to release the frozen assets.

4. Contact Customer Support

  • If you cannot determine the reason for the asset freeze, please contact the PerpVia customer support team.
  • Provide detailed information such as transaction IDs, error messages, or account activity records, and be prepared to answer security or compliance questions.

5. Adjust Account Settings

  • Check if there are any user-initiated restrictions in your account settings, such as withdrawal whitelist mode or asset locking features.

 

How to Avoid Asset Freezing

To reduce the risk of future asset freezing, please follow these best practices:

1. Ensure Account Security

  • Enable Two-Factor Authentication (2FA) to enhance account security.

2. Complete Identity Verification

  • Make sure your KYC verification is complete and your information is up to date.

3. Regularly Monitor Account Activity

  • Regularly review your account transactions to detect and address any unauthorized activity.

4. Pay Attention to Platform Announcements

  • Check for updates on system maintenance or policy changes to avoid being affected.

 

Frequently Asked Questions

1. What does “frozen assets” mean?

Frozen assets refer to funds that are temporarily restricted due to security or compliance reasons and cannot be traded or withdrawn.

2. How do I unfreeze assets frozen in trading orders?

Go to the trading page, find the open orders, and cancel them to release the frozen assets.

3. Can assets be frozen without notification?

Notifications are usually sent via the Notification Center, but some urgent security measures may take effect immediately.

4. Are frozen assets safe?

Yes, frozen assets are securely stored in your account until the issue is resolved.