Binance suddenly asks you to prove your source of funds. Your first reaction may be: "How do I prove DeFi money? Aren't on-chain transfer records public?"
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It is true that on-chain records are public, but the platform does not want a transaction hash. It wants an evidence chain showing "how you earned this money." Public records can only show "money moved from A to B." They cannot show "this money was earned legally." Binance asks for proof of source of wealth / source of funds, and they are different.
First, what exactly is Binance asking?
Binance does this check in two layers:
- Source of Wealth (SoW): How your total wealth was built over time. Is it salary, business profit, investment returns, or inheritance?
- Source of Funds (SoF): Where the specific money you deposited into Binance came from.
If the money comes from DeFi, you need to prove that the DeFi wallet is yours, and how all earnings in that wallet were made (staking, liquidity mining, trading arbitrage, etc.).
DeFi source of funds proof: three things you must provide
Submit a complete evidence chain proving the source of DeFi assets to Binance support. Binance has clear document requirements for source of funds verification. In a DeFi scenario, you need to prepare these three things:
1. Video evidence (the core of the core)
Binance requires a video for source of funds verification. Plain screenshots are not accepted.
The video must include the following:
- Record with another device (do not use phone screen recording).
- Fully show you logging into your Binance account and finding the deposit record.
- Then switch to the external platform (such as your DeFi wallet or DEX) and find the matching withdrawal record and TxID.
- Both sides must match: coin, amount, time, and TxID.
- The video must clearly show the source platform's name and website address.
- You can cover the password during login, but transfer records must be complete and clear.
2. On-chain interaction records
If the video does not have enough information, you also need to provide transaction record screenshots from at least the last 3 months. Explain all DeFi-related activity in detail, and show wallet addresses and transaction IDs.
Specifically, show:
- Your staking records from liquidity mining.
- DEX transaction records (Uniswap, PancakeSwap, etc.).
- Cross-chain bridge transfer records.
- The wallet addresses in these records must be consistent and form a complete fund trail.
3. Matching bank records for the fiat entry point
If your DeFi principal was bought with fiat through a bank, you need to provide bank transfer records or exchange purchase records to prove that the money you first used to enter crypto was legal.
Common failure reasons: why are submissions rejected?
Reason 1: Broken evidence chain The video only shows the Binance deposit record, but does not show the source platform transaction record, or the two sides do not match.
Reason 2: Wrong evidence format You submitted screenshots instead of video, or the video is a phone screen recording instead of being shot with another device. Binance clearly requires "live recording, not screen record."
Reason 3: Edited files Binance only accepts unedited PDF, JPG, and PNG files. Excel or Word files are usually rejected directly. Screenshots must show the full page, including URL and date.
Risk warning: If you keep failing to submit compliant materials, your account may be restricted to "withdrawal only" status. You will not be able to trade or deposit. Do not wait until you are restricted to prepare. Save videos and screenshots in advance. When submitting materials, cover sensitive information (such as passwords), but do not cover the transaction hash or amount.
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How to check after completing the process
After submitting, check the status in Binance's "Verification Center" or "Identity Verification" page. If it shows "Under review" or "Pending review," your submission was successful. Results usually come within 1-2 working days. If rejected, the system will explain the reason. Prepare again according to the requirements and resubmit.
