Has Binance KYC been hacked?

[Danumsigwasan]

Binance users’ accounts have been reportedly hacked and their Know Your Customer (KYC) data stole. As per images of IDs posted in a Telegram chat group, thousands of the exchange’s user’s photos, IDs, and passports are out there.

Tons of crypto users have joined the channel that has photos of people holding identity cards with a placard written “Binance” on it. The placard also has other details such as the date the image was taken. Surprisingly, the date on the photos is February 24, 2018.

Binance in their regular fashion has been quick to respond to the issue on their blog. The latest update from the Binance security team says that an individual has harassed and threatened them demanding 300 BTC. This is in exchange for 10,000 images that have a semblance to the cryptocurrency exchanges KYC data.

Binance Security Team Claims Extortion

The security team has further said that they are still investigating the matter to establish its legitimacy. They have, nonetheless, given clues that explain why the images are now on social media. Apparently, the hacker decided to distribute the pictures and data when Binance refused to pay up.

On the blog, the team says:

“There are inconsistencies when comparing this data to the data in our system. At the present time, no evidence has been supplied that indicates any KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system”.

About the February date on the images, the Binance security team says that at that point the exchange relied on a third-party vendor for their KYC processes why is such a large exchange trusting a third party with your private data?. The vendor in question may be the source of the data. The exchange says that they are investigating that lead.

Changpeng Zhao; Ignore the FUD but can we trust?

Changpeng Zhao, the Binance CEO, has on Twitter asked the crypto-verse not to fall for the KYC leak’s induced FUD. Some pundits do agree with CZ. They say that the leak seems more like a FUD or is this just an elaborate coverup as not so long ago they were hacked and crypto stolen.

The exchange says that 98 percent of its coins are held in cold storage. Moving them will increase the size of the exchange’s hot wallet. This could make a hack more fruitful. Others claim that it is all part of a smear campaign from the exchange’s competitors.

The Binance security team has informed its users that the data in question is the same as that a dark-net hacker held in January. But is it true or is this a new line of hacks?

According to a report from Shenzhen Financial News, a large number of the hacked KYC data owners were from Asia, mainly from Japan, Vietnam, Pakistan, and Japan. The exchange’s Korean manager.

In May Binance suffered a hack that cost it a 7,000BTC loss. The exchange nonetheless covered the damage, with their SAFU fund. This time Binance is offering a 25 BTC reward to anyone with information that may lead the hacker to justice.

Source of article: https://www.asiacryptotoday.com/has-binance-kyc-been-hacked

[Candycrush1129]

I am really not sure what’s going on with Binance. They used to be so good but since last 6 months or so, everything has taken a 360 degree turn.

Is there any management change or what??? Any idea?? Anyone??

[FantasyGold]

Definitely, this looks true as too much suspicious activity has being going around the Binance.

[chanler]

Really, I don't want to believe these bad issues again about the big exchange, Binance. But, if the prooves are reliable and can be proof enough, we must be more careful and watch out of all our identity on Binance. Binance is supposed to be a very great exchange, this is the big one among the other exchanges, it should have triple security systems that are more secure and guaranteed. Is that only the accusation or what? Really need some explanation officially from Binance directly.

[Bountyhonter]

Binance is a top cryptocurrency exchange with lots of users data so many hackers target them daily but be rest assured that binance has a team of internet security experts that will prevent it from happening and when it does happen binance will try it's best to fix the issues.

[Bountyhonter]

Really need some explanation officially from Binance directly.

This is the official article from binance concerning the issue https://www.binance.com/en/blog/365766157488967680/Statement-on-False-KYC-Leak

[Distinctin]

We can't verify if this is true or not, unless we will see some confirmation coming from the Binance team.
I would like to know also if there was an investigation happening conducted by a 3rd party of the recent hack on the exchange and now this FUD is quite alarming as well since it's our personal data, personally I complied with KYC so I hope this will also be investigated so Binance will be sanction for their weak security in the even it's proven true.

[flemmings02]

Definitely, this looks true as too much suspicious activity has being going around the Binance.

This would be the second time in the space of a few months that Binance will be trending for the wrong reasons, hack to be precise, this is terrible for the image Binance is trying to protect, a lot of measure needs to be taken very fast, if not Binance could lose its reputation.

[VanDeinsberg12]

Really need some explanation officially from Binance directly.

This is the official article from binance concerning the issue https://www.binance.com/en/blog/365766157488967680/Statement-on-False-KYC-Leak

it looks like that was a misleading thread and it much better to block it or mark it as a crap crypto news site.
I remember this rumour has been used by so many FUDDERs  to spread the false news to make anyone being panic. This is a really bad action from those who are spreading the false news about binance.
CZ can be trusted even more than OP.lol

[Andrew Parker]

What has gone into these Binance people? They are almost on self-destruction mode

[Freddy11]

Really sad to hear this. Even big exchanges are not safe, so what we can say about smaller ones?

[adaseb]

I've never actually used Binance before but I always assumed they were one of the only non-KYC exchanges out there. Why do they have over 10,000 KYC documents then?

I assumed the exchange was mostly crypto deposit/withdraw only. Looking at the pairs, they only got crypto fiat counterparts like Tether, PAX, USDC, etc.

So who exactly gets KYC'd on Binanance? Is it only people from the USA? Or are people just randomly being KYC'd due to fishy deposits and mixers?

[Mehr Sher]

Who to believe and who to not…… too much to think for a user

[dark08]

I think Binance not really force people to do KYC in their exchange. If me not wrong, i am not do any KYC although my withdrawal limit is small. Maybe if this is true, we should really concern and aware before we give our identity to any exchanges because identity is something that really risky if used by wrong people.

Absolutely right I'm using binance without doing a KYC this is only for those people who wants a large minimum withdrawal limit. And according to CZ this KYC issues is not true so stop sphreading fund.

[setialovers]

I think Binance not really force people to do KYC in their exchange. If me not wrong, i am not do any KYC although my withdrawal limit is small. Maybe if this is true, we should really concern and aware before we give our identity to any exchanges because identity is something that really risky if used by wrong people.

That's right, KYC on binance is only for customers who want to withdraw more than 2btc every day. From CZ's social media, there is no hacking on the KYC binance and this event is old news with new issues. Even if this is old news, hopefully binance can improve its security to prevent hacking from happening again

[Greatchu]

I think Binance not really force people to do KYC in their exchange. If me not wrong, i am not do any KYC although my withdrawal limit is small. Maybe if this is true, we should really concern and aware before we give our identity to any exchanges because identity is something that really risky if used by wrong people.

That's right, KYC on binance is only for customers who want to withdraw more than 2btc every day. From CZ's social media, there is no hacking on the KYC binance and this event is old news with new issues. Even if this is old news, hopefully binance can improve its security to prevent hacking from happening again

The reason why i still like using binance exchange is because of how ease it is to use without forcing KYC on users,im glad this hack is nothing but a false news since its hasnt been proved otherwise and the last binance hack must have set a big example for binance to always stay ahead of hackers by upgrading their security from time to time to avoid losing funds to hackers again,im glad its still up and running because the exchange is the best choice for me.

[Itsmylife]

In my opinion, this is just a way to attract people to join their channel communication. I saw some images leaked, they were unclear, of course those documents could not be surpassed by Binance's KYC requirements.

[PLATO]

In my opinion, this is just a way to attract people to join their channel communication. I saw some images leaked, they were unclear, of course those documents could not be surpassed by Binance's KYC requirements.

I also think like you but this cannot be certain because surely there will be a lot of real KYC real. This has affected this exchange in a very short time and currently the Telegram channel has been deleted so there is no need to worry too much about this. I think Binance is still protecting user data in the safest way and if you have KYC in this exchange, you will have more incentives in the near future.

[patz22]

I think Binance not really force people to do KYC in their exchange. If me not wrong, i am not do any KYC although my withdrawal limit is small. Maybe if this is true, we should really concern and aware before we give our identity to any exchanges because identity is something that really risky if used by wrong people.

Absolutely right I'm using binance without doing a KYC this is only for those people who wants a large minimum withdrawal limit. And according to CZ this KYC issues is not true so stop sphreading fund.

Thats right! They already announced and stated that security was not breached and for sure these are from people who want bnb to go down but CZ is so bright and for sure if in case that it was true there would be no issue and they will do best to resolve it right and then it just that informtation are totally different from crypto if being hacked. It can be used for fraudulent use.

[masulum]

Binance already post an article to clarify this issue. they said if they still investigated this issue. You can read full information about this issue here