What is going on with all those withdrawal suspensions on Binance?

Everyday, in the Daily Support thread, seemingly hundreds of Binance users try to have their withdrawal capabilities reinstated. Why is that?

I am user of Binance since 2017 and just got my first crypto withdrawal (worth a few thousand dollars) refused. Now my account seem to be in an endless verification process. Whatever ID, video and information I send, it's doing nothing. It's been days and customer support is unable to help, I just have to wait it out... For many people it's been weeks, even months.

I was in the crypto world when MtGox was around (at the time the largest crypto exchange). The shit really hit the fan when they started stopping withdrawals. They did it because they got hacked and could not give their users their BTC back. So what is happening at Binance? Why do they engage in systematic withdrawal suspensions?

Also what is the point of using crypto-currencies if exchanges are worst than banks when it comes to getting your own money back?

PS: I understand that people with bad intentions use Binance and they have to be stopped, but there is no suspicious activity on my account and I am a legit person (and a long time user).