Binance Release Statement Amid KYC Leak Claims

Binance Release Statement Amid KYC Leak Claims

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

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

Latest Guides

Latest News

Blockchain,Changelly,Cryptocurrency,Exchange Platforms

Changelly Adds Ardor, Ignis, and NXT to Changelly PRO

Changelly, the online cryptocurrency exchanges, has added three more tradable assets to their Changelly PRO platform. Changelly, the large online crypto exchange, has recently added an additional three cryptocurrencies to their Changelly PRO platform, Ardor, Ignis, and NXT. All three tokens developed by Jelurida will be tradable against BTC as ARDR/BTC, IGNIS/BTC, and NXT/BTC. Jelurida […]

6 November, 2020
Crypto Wallets,Exchange Platforms,Kraken,Ledger

Ledger Phishing Scam is Targeting Crypto Wallet Users

Ledger, the cryptocurrency wallet company, has been massively affected by a data breach and phishing scam. Ledger, the world renowned cryptocurrency hardware wallet producer, is facing a lot of problems with a data breach that is being used to target their customers. Kraken Intelligence, the intelligence arm of the Kraken cryptocurrency exchange, analyzes this data […]

5 November, 2020
Bitcoin,Blockchain,Cryptocurrency,Ethereum

Ethereum on Track to be First Blockchain To Process $1 Trillion In Yearly Transactions

Ethereum, the second largest cryptocurrency by market cap, is preparing to break the $1 trillion mark in yearly processing. Ethererum, the largest cryptocurrency behind Bitcoin, is on track to be the first blockchain to process over $1 trillion in transactions in a single year. Currently, the Ethereum network is processing more than double the amount […]

4 November, 2020
Binance,Blockchain,Cryptocurrency,Exchange Platforms

Binance is Giving Away $20,000 in Fifth Learn and Earn Series

Binance, the largest online cryptocurrency exchange, is hosting its fifth learn and earn series, this time with Orion Protocol. Binance, the worlds largest cryptocurrency exchange, will be hosting their 5th Learn and Earn campaign in collaboration with the Orion Protocol. In this campaign, Binance will be giving away $20,000 worth of ORN, the native cryptocurrency […]

3 November, 2020
Bitcoin,Blockchain,Cryptocurrency,Exchange Platforms

Bitcoin Monthly Prices Finishes at Second All-Time High

At the end of October, Bitcoin has registered its second highest closing price of all time. Bitcoin bulls continue to rejoice as Bitcoin closes at its second highest monthly price in the history of the digital currency. Bitcoin closed October with a price hovering right around $13,800, the second highest monthly price finish besides the […]

2 November, 2020
Cryptocurrency,Exchange Platforms

Cryptimi Announces Launch of Additional Platform for German Speaking Users

 At Cryptimi, we have announced the launch of our newest news platform in one of the largest languages globally, German. We are very pleased to announce the release of our world class Cryptimi platform in German! Now, all german speakers will be able to access all of the traditional media and features they would receive […]

27 October, 2020
Binance,Blockchain,CoinMarketCap,Cryptocurrency

CoinMarketCap Launches Latest Earn Campaign With Helium

CoinMarketCap, the largest online market cap aggregator, has launched their latest Learn and Earn campaign with Helium. CoinMarketCap has launched their latest iteration of their Learn and Earn program in partnership with Helium. Learn and Earn is a program launched by CoinMarketCap that allows cryptocurrency users to learn about new cryptocurrencies and earn some of […]

25 October, 2020
Binance,Bitcoin,Cryptocurrency,Exchange Platforms

You Can Now Spend BNB and BUSD With All Shopify Merchants

Shopify, the all-in-one online commerce website, now allows all of its merchants to accept Binance’s tokens BNB and BUSD via Alchemy Pay. Alchemy Pay, a worldwide cryptocurrency payment solution provider has worked with Binance and Shopify to integrate BNB and BUSD for payments to all Shopify merchants. Shopify is the worlds largest e-commerce platform with […]

23 October, 2020