Bitcoin Forum

Well!! Did you know? after the hack, binance has provided a VIP status for the hacked accounts.

Source: https://coinpedia.org/cryptocurrency-bulletin/binance-vip-status-hacked-accounts/

What's your Point of view on this?

Not so many advantages already offered by binance VIP account membership, for me it's still not worth with my personal account that already leaked to the network.
In that article has already mentioned if binance asked to apply new KYC documents and this is a joke.
Binance must deal even more if there was a customer that comes from EU(GDPR).

Only a few benefits are obtained for VIP accounts. If there are not many benefits for VIP accounts, obviously not comparable to a leaked database, Hacked accounts reach 60k user accounts. Fantastic number.

For the number of times Binance has been attacked again by hackers, Binance has always been the main goal of hackers.

IMHO, there's no such treatment that can ever replace once your information has been taken by the hacker.

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But if that's their way of regain the trust of their users, I guess it's not a bad idea.

As far as I know, no funds were affected during this hack right? Thats why I cannot get people bothering about personal data, because if you have already passed KYC the possibility that your personal data is already leaked is huge. Calm down and get your benefits from Binance VIP :)

For me its a kind of showing credit from the Binance team to eased the tension and calming those affected users. I think there was no funds affecting that glitch, so its nothing IMHO! Binance was very attracted to hackers due to its popularity and status as one of the worlds largest crypto-exchange. Data leaked is not new in our time we must accept this fact. Im a binance user since 2017 and i believe that no perfect system in the internet all is subjected to vulnerabilities and Binance is not spare from this.

Are there any reports of how much funds have been lost from 60k accounts due to hackers?
I regret the hacking incident occurred again and from the other side, appreciate the binance team who have given awards for hacked accounts.

It's a dilemma whether to be happy or be sad for the hacked users. But as the images unfold, it's really difficult for anyone to use that passport to verify for any other services but it of course reveals the identity of the users which may put them into risk from both criminals and government agencies. The users residing in countries having oppressive laws about crypto and the one that would draft in the future would be affected the most.

I am also sorry for the hacking incidents that occurred again at binance, the binance team should have made even higher security, because they are always attacked by hackers and that can be a valuable lesson for binance, because binance has become a good exchange and visited a lot. by traders and investors, so there are always unexpected attacks from hackers.

Interesting to see this development. However I am not understanding the benefits coming out of VIP account. Could you please explain this in detail?

Oh the kyc leak is actually true.
Well, it seems they are doing this to quickly help those that are affected by the leak. The number of those affected according to the article is 60,000. That is so much people to attend to hence the need for the special treatment I guess .

I was about to ask the same question. What is the real benefit of having VIP account in Binance? One will be giving preference on their IEOs? Or no trading fees or commission?

That is all? VIP status? And what they do if someone takes a loan in the name of the victim?
By the way, how can I verify that I am not at the list of hacked accounts?

It's okay to compensate affected users, but the benefit are not so much though. They will need to apply for KYC again.  I hope this won't repeat itself, it's a very dangerous incident.  

I am not a user of Binance but if I were a customer of Binance then I wouldn't be happy with the VIP features compensation against the back and the KYC leaks. In anyway it is not equal to the loss that resulted from those hacks.

They should try to fix this and assure their customers that it won't happen again instead otherwise this will happen again and again.

Seems like many traders/investors weigh their cost of their personal Identification and legal state information to the cost of 1 Binance VIP account. Concurrently, this is how much Binance thinks your life and blood in the world costs.

Appears to be pretty insulting, if you actually value yourself, credit and everything else in this world that's tied directly to this information.



Food for thought, why should you trust Binance with funds if you can't trust them with your KYC information?

The company has asked affected users to apply for new identification (KYC) documents in their respective regions.  ;D

What else to say, let's get new documents for hackers, instead of introducing anonymity and completely abolishing the passage of kyc, they ask for new documents. And their benefits after the leak of documents are no longer needed by many.

60000 KYC leak? wow, that's a pretty big leak. it is appropriate for the account involved to move up to the VIP level as an apology. however, they need to update their KYC data again according to their respective regions.

Well, even though there are quite a lot of people who feel pretty heavy about it, I think binance is still trying to fix this. I am a binance user, it's just that I haven't verified the KYC I have, so I think it's good to keep up with this development.

Well, that is their own luck, I am not sure that the benefit that is attached to a VIP account and that of the normal account has much difference, I believe it is just a way to still appeal to them and make them to continue to stay with the exchange, but wait, those people are really VIP, because I learnt that what was taken away from binance account is about $41 million and this came from very few accounts.

It mean the least in those account might be like $2 million dollars, aren’t they VIP indeed, and to think of it also, why would someone even keep such big amount of money in an exchange when they can easily make use of  hardware wallet? I totally understand that risk is everywhere, but hardware wallet is still much safer than an exchange for such amount of money.

Though there is not much of benefits in being a VIP account, the step taken forward by Binance is appreciable. More than 6000 accounts have got affected with this data leakage. Now to gain the trust of the users more support and services were provided for them. Earlier during the hack also they settled to the users who lost.

Same time Binance keeps working to improve their security features as users were experiencing difficulties often. Keeping such big funds in exchange is not recommended, but daily traders do trade in large volume regularly. This is the reason for the users to prefer to hold large funds on exchanges even though there is hardware wallets which is highly secure.

Is just having a VIP account over your data been leaked and taken worth enough for all of the users that's been affected?

This VIP status for the hacked accounts of the people is like a compensation for them. As a top exchange site, this is a good thing so they can still get some customers involved. But still, it is a private information and the benefits must be more (if they are not going to get much).

What do you think will VIP status helps users?

What is this? I may think this is just a "conciliatory" actions of Binance to the affecteduvwe  users. But of course, a great step to get back their reputation is to compensate the hacked bitcoins and give priviledge to those who suffered the most. VIP is also a great but what is some of the advantages of being a VIP user? Slow trading fees yeah but whatelse aside from that?

The issue of hacking on binance is becoming something else, I'm sincerely not happy with the rate at which the news is coming. Binance needs to fix their security problems once and for all. Individual person data shouldn't be in the hands of the wrong persons for anything, you never can tell what they could use it to do.

I only found out about it now. It seems to me not only Binance should provide at least some compensation to deceived users. Amazon is also very much to blame. After all, because of them there was a problem with the withdrawal of funds. So let's expect news from Amazon. ::)

On the one hand, in order for the resource to remain authoritative and attract more new users, Binance needs to do exactly what you are talking about.  But speaking of fairness, it’s very difficult for most companies to admit their guilt and I think that will happen with Amazon as well.

Most of the money is in BINANCE and many top tokens are there.
They have the volume of every token in the community. this is why hackers are more onto Binance than other exchanges.
If you will hack some accounts you will target the most brilliant of them all.

I think it's really the only thing they can offer besides repaying their funds. It's a great opportunity for them to gain trust back imo

If my account was affected VIP wouldn't be enough to keep me there. It's a very small compensation for leaking private data and if the information is right they want people to go through KYC again ad change passwords.

Fool me once shame on you but I won't allow you to do it again. Whoever was affected should leave or at least never keep money there. Exchange and withdraw at once.

What is the benefit of being a VIP and normal members? Will they apply high security to only VIP members? If yes, I don't think that is a good idea because that will make people don't like to stay on their website. If this is really happening, I think many members will leave those exchange and will search the other. Besides that, if there is a subscription fee for being a VIP, that will not be good either because members need to pay some fee to protect their data in those exchange. Maybe I need to think to move my balance from that exchange.