[2019-08-07] Binance Has Denied Information About Users Data Leak

[timerland]

Think it's pretty real to me, I saw a thread where someone linked the photos, unblurred as well and they looked like real people who's ID's where leaked. I'm obviously not going to link those threads and telegram channels that contain the photos, obviously.

Again, this is another great example of why you never give out your ID/do KYC online. Even though companies may seem safe (Binance was regarded as one of the safest and most popular exchanges for a long time), hacks and leaks still do happen, and now the people's ID who got leaked - their lives are likely ruined forever.

I'm very curious to see how they will deal with the leaks - denial is what they are doing now, which is disappointing for a company that usually takes liability on these sorta things (eg, the hot wallet hack a couple months back).

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[freedomgo]

It's obvious binance denied that issues to protect and avood scandals and panic for the users. Binance need that because to stay people trust for the security system of the binance exchange is strong the investment of the user is protected.

Indeed, Binance would do everything to protect the exchange and retain the trust and confidence of the traders.
We should not only listen to one side only (Binance) but we should also listen and read other sources, so we will get the right picture of the story.
It's really hard to prove if this is true if the government will not get involve in this, though it's not money that is loss but sensitive information can be use for illegal purposes.

[onrise]

It's obvious binance denied that issues to protect and avood scandals and panic for the users. Binance need that because to stay people trust for the security system of the binance exchange is strong the investment of the user is protected.

This could be a mjaor issue if proved correct beacuse this i sone of the leading exchanges currently and if any such thing happen then this will have the adverse effect on the market and definately they would lose a huge customer base which they have created over couple of years and another thing is that panic situation would lead to panic sale . So hopefully this just remain the story and not he truth.

[bryant.coleman]

Indeed, Binance would do everything to protect the exchange and retain the trust and confidence of the traders.
We should not only listen to one side only (Binance) but we should also listen and read other sources, so we will get the right picture of the story.
It's really hard to prove if this is true if the government will not get involve in this, though it's not money that is loss but sensitive information can be use for illegal purposes.

Why do you think that the government agencies will get involved in this? User data leaks happen every now and then, and the agencies don't have either the resources or the time to go after each and every data leak. They would tell you that it was the responsibility of the users and the exchange owners to keep the data secure. They have far more important things to take care of.

Now coming to the trust part, I would say that Binance had lost whatever reputation they had, when they lied a few months back that the first hack never occurred. Only when some of the users came up with the proof, they admitted that coins have been stolen from their hot-wallets. If they had any reputation remaining after that, then it got destroyed this time.

[freedomgo]

Indeed, Binance would do everything to protect the exchange and retain the trust and confidence of the traders.
We should not only listen to one side only (Binance) but we should also listen and read other sources, so we will get the right picture of the story.
It's really hard to prove if this is true if the government will not get involve in this, though it's not money that is loss but sensitive information can be use for illegal purposes.

Why do you think that the government agencies will get involved in this? User data leaks happen every now and then, and the agencies don't have either the resources or the time to go after each and every data leak. They would tell you that it was the responsibility of the users and the exchange owners to keep the data secure. They have far more important things to take care of.

Now coming to the trust part, I would say that Binance had lost whatever reputation they had, when they lied a few months back that the first hack never occurred. Only when some of the users came up with the proof, they admitted that coins have been stolen from their hot-wallets. If they had any reputation remaining after that, then it got destroyed this time.

Government agencies have the responsibility to ensure users of the site are secured, if Binance is under their regulation, they should protect the people when Binance started to violate the law, the leak of information is a violation of the law which is the secrecy law, exchange have the responsibility to keep our information safe and private, otherwise they should be penalize if this leak of information if it's due to their negligence.

[Schirer]

Major cryptocurrency exchange Binance announced that it will offer a lifetime VIP membership to all its users affected by the recent Know Your Customer (KYC) images leak on the platform.

https://cointelegraph.com/news/binance-offers-lifetime-vip-membership-to-kyc-leak-victims

Binance trying to get off the hook in the cheapest way possible, if I was one of those who had been victims for this hack, i wouldn't agree on this so easily. Cheap tradings traded for my leaked ID papers, no way.

[o_e_l_e_o]

Binance trying to get off the hook in the cheapest way possible

What a cop out. They've gone from "The leak is fake" to "The leak is real, but it wasn't out fault". Just own up and take responsibility.

Can anyone confirm whether in late 2017 their Terms of Use included a clause permitting them to send user's details to third-parties? It certainly does now, but I can't find any relevant archives to say whether it did at the time.

Still, a lifetime of monitoring your credit report plus the risk of thousands of dollars worth of credit being opened in your name, but look on the bright side, a free VIP account! /s

If even the largest players in cryptocurrency can't secure your KYC documents, what do you think a tiny exchange or brand new ICO is going to do with them. I will continue to encourage users to never complete KYC in crypto anywhere for any reason.

[royalfestus]

It's obvious binance denied that issues to protect and avood scandals and panic for the users. Binance need that because to stay people trust for the security system of the binance exchange is strong the investment of the user is protected.

Do they have to deny such hack again? they are used to denying every hack/allegation against them and this could be the beginning of their problem if they are not careful. Do they think its easy to stay up as one of the best exchanges in the world, I foresee this. The 7000 btc theft was swept under the rug since customers were not affected but this needs to be addressed before traders start losing confidence in them

[Kemarit]

Major cryptocurrency exchange Binance announced that it will offer a lifetime VIP membership to all its users affected by the recent Know Your Customer (KYC) images leak on the platform.

https://cointelegraph.com/news/binance-offers-lifetime-vip-membership-to-kyc-leak-victims

Binance trying to get off the hook in the cheapest way possible, if I was one of those who had been victims for this hack, i wouldn't agree on this so easily. Cheap tradings traded for my leaked ID papers, no way.

It really gives me a good chuckle here. what the hell is this kind of offer?  They really damage their reputation big time and if I'm one of the victims here, I will definitely go and sue them in court for that data breach. This so called lifetime ViP membership is crap, sadly though Binance is shield from this. I mean if you wanted to pursue them,  they are hiding somewhere we even don't know. So I felt sorry for those who became victim of their negligence.