Binance Release Statement Amid KYC Leak Claims

Binance Release Statement Amid KYC Leak Claims

Popular exchange platform, Binance has had to release a statement after an unknown perpetrator began leaking supposed KYC Data of their clients.

In a letter penned by their security team, they described how they had been “threatened and harassed us” by the individual who was attempting to extort the platform for 300 bitcoins, which would have a market value of more than 3,000,000, stating they would release the 10,000 photos of their clients if Binance didn’t pay up.  After the platform refused, true to his word, the supposed images began to be leaked online, both to the public and the media, which has caused backlash online.  

False Claims?

According to the platform, the legitimacy of these images are in question and referred to the leak as “false”. Stating that they do not bear the digital watermark imprinted on their images by their KYC system and that they believe that there is no evidence to support the fact that they are indeed from their platform.

Upon request of proof the legitimacy of the images, the perpetrator was unable to provide any. With Binance believing that they might be the same images that were believed to have been obtained by a hacker from Binance and Kraken bac in January which was later proven to be fake.

However, the exchange platform also stated that the images were dated as from February 2018, a time at which the KYC procedures were contracted to a third-party, who they contacted for more information. As such, the investigation into the facts remains on-going.

What Now?

Binance CEO, CZ Zhao, took to Twitter to warn people not to ignore the “FUD”. Telling people who were sharing the leaked images from a telegram group that they “are helping malicious hackers (at least giving attention). What we should do as an industry is to fight them.  Stay on the positive side.  Report the group, then leave.”  

Meanwhile, the platform has contacted the appropriate law enforcement agencies and have also asked for help in identifying the culprit, with a 25 Bitcoin reward on offer to those who provide intelligence that proves useful.  They also warned users that they should be wary of anyone impersonating the Binance customer support, although they said these warnings were unrelated to this incident.

They also reassured users that “protecting our users’ privacy and keeping our systems secure, including the funds stored within, is our utmost priority” and they would maintain transparency going forward with this issue and keep users updated with any developments.

Of course, these latest claims come just months after a hack on Binance saw a monumental loss of  7000 Bitcoin from the platform.

This incident has seemingly not slowed down the day-to-day activities on their platform though. As despite this controversy, today they announced a new listing on their platform in the form of Aergo, which, according to its Twitter page, is a “fast and scalable hybrid blockchain. Developer friendly, enterprise grade with SQL support.”

Recently Similar News

cex-promotion etoro-promotion

Latest Guides

Latest News

CoinEx,Listings,Margin Trading,Promotion

CoinEx Announce Free Margin Trading Borrowing & KDA Listing

CoinEx have announced a period of free borrowing for margin trading and the listing of a new token known as KDA with a trading competition attached. The first of these announcements has come as means to celebrate the Bitcoin Cash (BCH) Halving which is scheduled for later this year. In March, the mining reward for […]

20 January, 2020
Coinbase,Cosmos,Exchange Platforms,Listings

Cosmos (ATOM) Is Now Live at Coinbase

Earlier this week, Coinbase listed the native token of an interoperable blockchain protocol that facilitates the transfer of data between existing chains, Cosmos. The token known as ATOM has been live on the platform since Thursday across the Coinbase platform This includes the possibility to do so while on the go on either the mobile […]

19 January, 2020
KuCoin,Listings,Margin Trading,Promotion

Borrow New Tokens on KuCoin Margin Trading With 0% Interest

KuCoin have expanded their listed tokens on their platform with the addition of 5 new tokens available to traders and are offering zero interest on these tokens as a special promotional offer. The KuCoin margin trading service is one of the newest products offered by the trading platform and has become an area of their […]

19 January, 2020

You Can Now Trade with Kazakhstan Tenge (KZT) at EXMO

EXMO has added to their fiat currency trading options with the inclusion of the Kazakhstan Tenge which became available on the platform earlier this week. EXMO hey were already one of a limited number of platforms that offered Polish Zloty, Ukrainian Hryvnia and Turkish Lira, but the decision to choose the Kazakhstan Tenge (KZT) is […]

18 January, 2020
Custodian,Fee Decrease,Kraken,Promotion

You Can Fund Your Kraken Account For Free This February

This February you can fund your Kraken account for free when you use Etana Custody. Etana is a custody service that operates with Tier 1 banks across the globe and holds offices in prominent locations of the financial world such as USA, Singapore, Japan, and Europe. The core model of the business is the offering […]

17 January, 2020

CEX’s New Automatic Staking Feature Has Officially Gone Live

The CEX Automatic Staking Feature has gone live with 4 tokens currently available to stake on the platform. CEX announced news of the staking feature last week but didn’t designate a specific time for it to launch. However, CEX users were informed yesterday that staking was up, running and ready for users to start earning […]

16 January, 2020

Kraken Acquires Australian Firm, Bit Trade

Kraken has announced the acquisition of Bit Trade – the longest-running Australian crypto service provider. Bit Trade has been in business since as far back as 2013. In that time, it has established a solid reputation thanks to its intuitive and sophisticated products and its assistance on ensuring security and regulatory compliance. This made it […]

15 January, 2020

Vote For New Binance Listing and Win Tokens Worth $300

Binance traders who are looking to get more closely involved in their platforms community and have their say on a future project on the platform can win $3,000 in tokens for doing so. In what is the 5th of such votes offered so far by the platform, Binance are encouraging users to vote for one […]

15 January, 2020