Bitcoin Forum

CCN’s report on a hacker selling KYC data supposedly from Binance on the darknet is nothing more than fake news and hyperbole from the hacker.

CCN claimed that they were able to independently verify the ad, adding that a cybersecurity expert who chose to remain anonymous contacted them to say that he had samples of the supposed breached KYC data documents, and an exchange between the expert and Binance.

Read more here: https://www.unblock.news/news/claim-of-breached-binance-kyc-data-sold-on-the-darknet-fake

this is why I don't like KYC, I just want to trade on a trusted exchange and don't require everyone to do KYC, and I follow any business I just choose a business that doesn't have KYC, I know the price for each person's data sold on darknet and the average price of data is $ 200, let's think if someone managed to steal thousands of data and sell it on the darknet,

But the thing is, without any of these prerequisites being submitted by us, the users, we won't be able to trade on their platforms. If they allow unverified accounts, it only has a certain amount of trading volume/amount specified for a given day, and those restrictions are certainly awful to say the least. Also, this is a requirement imposed by the government before allowing any trading platform to flourish, so I guess it will really be needed up until a fully-functioning DEX pops out with ample support from the government.

Maybe it's the exchanges' part of improving their systems and not really the KYC that's the problem after all. I'm also anti-KYC but we really can't move forward without it on our platforms, and it's a pain, really.

The report was said to be fake though lol. Also, KYC info can't be worth that much, or according to this at least:

https://www.experian.com/blogs/ask-experian/heres-how-much-your-personal-information-is-selling-for-on-the-dark-web/

But yeah, personal data should be shared sparingly. Unfortunately, choices for reputable exchanges are quite slim.

I think if all of our KYC information was leaked to somewhere we would have known about it already, stealing identities of someone is not a valid option if you hold it for years, if you get it you need to use it right away before anyone realizes and tries to block you that is why hackers who steal credit cards and ID and so forth things usually do the maximum damage they can really quickly and get out, without that type of quickness the information they have will become useless after a while.

Binance is a very trustworthy place and never really gave us a reason not to believe them so I think its safe to say with both of these information that our KYC information (not that I have given any myself) is still safe. However if there is even couple people complaining about this than we can start to research if it happened.