kooboat
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August 09, 2019, 06:13:38 PM |
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KYC and the issue of privacy has always been a big headache to most crypto users due to the high incidence of identity theft. Binance is a strong name when we talk of exchanges so we expect them to protect their users with the best possible form of security and technology available. Let's hope the situation is not as serious as speculated.
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alyssa85
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August 09, 2019, 08:55:35 PM |
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How can you say Binance is not safe anymore where it's not proven that those data are stolen from Binance?
Their story of phishing is reasonable to believe, but of course, it needs proper investigation, likely from a 3rd party to find out which is really happening with those leaks. If there's no one except Binance who investigate their own case, it's possible that every finding won't be revealed 100%. No doubt about it.
If people can hack wallets, they usually hack other stuff while they are at it. As soon as the original hack occured, people should have changed all their passwords and stuff. Poorly run exchanges are the weakest aspect of the crypto space.
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Indymoney
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August 09, 2019, 09:05:02 PM |
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How can you say Binance is not safe anymore where it's not proven that those data are stolen from Binance?
Their story of phishing is reasonable to believe, but of course, it needs proper investigation, likely from a 3rd party to find out which is really happening with those leaks. If there's no one except Binance who investigate their own case, it's possible that every finding won't be revealed 100%. No doubt about it.
If people can hack wallets, they usually hack other stuff while they are at it. As soon as the original hack occured, people should have changed all their passwords and stuff. Poorly run exchanges are the weakest aspect of the crypto space. These type hacks killing many users and we have some big lots in past I personally lost some big and good amounts just because of these hacks now time for them to do some serious work about this otherwise its going to be hurt too much and we are going to lost some good numbers of investors.
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klaaas
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August 09, 2019, 09:25:28 PM |
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Hmm, Binance were hacked in the previous month so KYC leak is very possible. I do no think this one is just a FUD, though I will be watching how this issue will unfold. Lucky I did not undergo KYC in Binance exchange so I do not need to worry about this leak.
This time it reached the public but it is more concerning if the same is happened with other exchanges and we are not knowing about it. Leaks like this could be way more destructive then hacks where coins/tokens are lost.
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SquallLeonhart
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August 11, 2019, 12:45:18 PM |
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Hmm, Binance were hacked in the previous month so KYC leak is very possible. I do no think this one is just a FUD, though I will be watching how this issue will unfold. Lucky I did not undergo KYC in Binance exchange so I do not need to worry about this leak.
It is totally going to be an FUD and I would not think that Binance will be that careless to allow such thing to happen, yes they were once hacked, and everybody knows that which they have fix whatever big that is on their platform that made them vulnerable to attack, if they have hired super security experts to block all loop holes, there is absolutely no way that their data database will be hacked. Those faces you are seeing there, what if they were just trying to frame Binance up because there is nothing that people cannot do just to discredit the project of another, and just like you said, we will keep our fingers crossed and be watching as thing unfold, they are already under investigation, and I bet that nothing of such would be found on them, it is just a way to create dump for BNB.
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Ucy
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August 11, 2019, 02:34:16 PM |
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Hmm, Binance were hacked in the previous month so KYC leak is very possible. I do no think this one is just a FUD, though I will be watching how this issue will unfold. Lucky I did not undergo KYC in Binance exchange so I do not need to worry about this leak.
This time it reached the public but it is more concerning if the same is happened with other exchanges and we are not knowing about it. Leaks like this could be way more destructive then hacks where coins/tokens are lost. What is the latest on this? Has the hack been confirmed? You sure most crypto people even care about their personal information being stolen? I honestly will be very worried if my identity is leaked on the web. It can leave people more vulnerable than having few bitcoin stolen.
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mirakal
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August 12, 2019, 01:50:33 PM |
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So what's the update of their investigation?
We have different sentiment in the space, some believes that the news is true, some KYC information has been leaked and that should be the job of the Binance exchange to keep it safe and private, we as users of the site entrusted them our info but if we mess with us, they should be wary of their future.
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1Referee
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August 12, 2019, 09:24:48 PM |
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So what's the update of their investigation?
We have different sentiment in the space, some believes that the news is true, some KYC information has been leaked and that should be the job of the Binance exchange to keep it safe and private, we as users of the site entrusted them our info but if we mess with us, they should be wary of their future.
I don't think it matters much what the update of their investigation is since they are motivated to brush it off as fake, old or not relevant. The lesson that this event should have taught people is that these unregulated exchanges and their third party KYC desks can't be trusted with your information. People were already talking about the risks of this to eventually happen, and now we see that it happened for real. Who knows what weirdos on the dark net are doing with these ID's as we speak. ![Lips sealed](https://bitcointalk.org/Smileys/default/lipsrsealed.gif) People on social media have already confirmed the legitimacy of the leaked ID's and whatnot. Binance messed up big time.
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bryant.coleman
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August 13, 2019, 01:35:06 AM |
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What is the latest on this? Has the hack been confirmed? You sure most crypto people even care about their personal information being stolen? I honestly will be very worried if my identity is leaked on the web. It can leave people more vulnerable than having few bitcoin stolen.
Can't believe all this BS!!!! Do you really think that cryptocurrency users don't care even if someone steal their personal information? That is the most ridiculous thing I have ever heard. Identity theft is a big issue these days and if some criminal get hands on the scanned copy of your passport, then he can use it for countless criminal activities. And in the end you will get framed for it. I have been saying for many years that KYC must be done only if it is extremely necessary. Don't do KYC in any exchange to trade your $10 worth of tokens that you received from the bounty campaigns. Apart from the risk from hackers, it will put you in the government watch list as well. A thing to avoid, if you are residing in any of the countries that are hostile to crypto.
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eaLiTy
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August 13, 2019, 03:30:27 AM |
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To trust or not to trust? That is the question for all Binance users. Binance needs to use hard&soft tactics to prove its technology capabilities and its commitment to transparency and security goals.
The moment Binance was hacked and millions of dollars were lost because of their inefficiency you should consider more bad things were bound to come out in the future, i never traded in binance after that because you never know when they will shut down and freeze all the accounts and then we have to wait for the legal battle to get our coins and we all know that it would take years, the owner can tweet a thousand times that it is SAFU because it will hurt his business, with time we might see the extend of the damage, legal actions are to be taken if they are not capable to taking care of sensitive information and i am not happy with the way things are going.
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btc_angela
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August 13, 2019, 03:59:35 AM |
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To trust or not to trust? That is the question for all Binance users. Binance needs to use hard&soft tactics to prove its technology capabilities and its commitment to transparency and security goals.
The moment Binance was hacked and millions of dollars were lost because of their inefficiency you should consider more bad things were bound to come out in the future, i never traded in binance after that because you never know when they will shut down and freeze all the accounts and then we have to wait for the legal battle to get our coins and we all know that it would take years, the owner can tweet a thousand times that it is SAFU because it will hurt his business, with time we might see the extend of the damage, legal actions are to be taken if they are not capable to taking care of sensitive information and i am not happy with the way things are going. As much as I wanted that legal means should be taken, but I do think that this could be settled out of court. Its Binance fault here, they should have taken steps to protect their customers. But they are still on top of the business so probably thinking of another way to get out of this mess by cooperating and then settling with their customers for damage control ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Distinctin
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August 13, 2019, 04:37:17 AM |
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I feel pity for those crypto enthusiast who have been exposed in this hack, it is really a tragedy and I would have that a legal actions should be taken against them by the victim because of their mis management.
That's the thing traders should do in their exchange, but how can they know if their KYC information is part of many information that was leaked? That is a big challenge actually but there is a solution to that, they should seek help by the government as I think Binance being the biggest exchange in the crypto space is regulated by the government and the government has the right to conduct their own investigation basing on the report about the leaked info.
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ene1980
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August 13, 2019, 04:41:20 AM |
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Hmm, Binance were hacked in the previous month so KYC leak is very possible. I do no think this one is just a FUD, though I will be watching how this issue will unfold. Lucky I did not undergo KYC in Binance exchange so I do not need to worry about this leak.
Welcome to the world of fake Safu and outright lies of Changpeng Zhao who always have business interest in mind rather than taking take of their security, the way in which he dealt with the hack was outrageous and i am not sure about the legitimacy of these KYC leak and if that happened it is a serious issue as the people who filled out their KYC are big traders and it is a direct threat to their privacy and property.
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eaLiTy
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August 13, 2019, 05:10:25 AM Last edit: August 13, 2019, 07:11:31 AM by eaLiTy |
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As much as I wanted that legal means should be taken, but I do think that this could be settled out of court. Its Binance fault here, they should have taken steps to protect their customers. But they are still on top of the business so probably thinking of another way to get out of this mess by cooperating and then settling with their customers for damage control ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) If the customers sensitive details are leaked then what kind of damage control they can do ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) , will they give personal protection to the people who traded huge amounts in binance, if the hackers got hold of the KYC details i am sure they have more sensitive information than that like an individual users trading volume and what coins they are holding and now they have their home address, what do you think will happen, we have already heard criminals holding families at ransom and extorting bitcoin in the UK, so it is not a simple case that can be settled easily out of court.
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darewaller
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August 13, 2019, 06:33:14 AM |
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So what's the update of their investigation?
We have different sentiment in the space, some believes that the news is true, some KYC information has been leaked and that should be the job of the Binance exchange to keep it safe and private, we as users of the site entrusted them our info but if we mess with us, they should be wary of their future.
If they have a way of killing the news, they would do it, but I doubt if it is really true or a serious matter, maybe someone was just trying to create news that will make the value of their coin go down so as to be able to accumulate much of the coin that is fast growing. I believe that Binance will not make that mistake again of letting their system to be loosed again for hackers to hack in after what happened to them the last time which I believe that they have still not overcome yet. To lose $41 million dollars is not a child’s place and playing with people’s data could seriously land them in a bigger debt like Facebook is paying dearly right now for the one they still have as case with the federal government, and I think that they will be paying 5 billion for that one.
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sana54210
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August 13, 2019, 06:28:10 PM |
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I think binance is quite safe still because the hack was made to a third party organization that helped binance during their early days for KYC, which means they picked a wrong company to work with thats true but they are no longer using that service and doing it themselves and that hasn't been hacked yet.
Binance has never been safe because ever since they started there has been api hacks that saw some coins got pumped 700%+ in order to make profits, there has been a 7000 bitcoin hack and god knows how many other times I am missing but at the end of the day they are giving back the money people lost anyway and that means they are safe thanks to the security levels they have put in place. How many other places could survive 7000 bitcoin hack without a scratch, that is why I would still trust them.
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Oilacris
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August 13, 2019, 09:02:30 PM |
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I think binance is quite safe still because the hack was made to a third party organization that helped binance during their early days for KYC, which means they picked a wrong company to work with thats true but they are no longer using that service and doing it themselves and that hasn't been hacked yet.
Binance has never been safe because ever since they started there has been api hacks that saw some coins got pumped 700%+ in order to make profits, there has been a 7000 bitcoin hack and god knows how many other times I am missing but at the end of the day they are giving back the money people lost anyway and that means they are safe thanks to the security levels they have put in place. How many other places could survive 7000 bitcoin hack without a scratch, that is why I would still trust them.
Compensating the affected users of such 7k btc hack is a good move but we cant really avoid the fact that this had tainted their reputation.Binance is known to be one of the best exchange as of this moment which means when it comes to security then they are tight enough until issues pop out about that btc hack then later on the KYC leak is next.You cant stop people to believe into this exchange when it comes to security but we can eventually see Binance effort to make things being solved out.
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Polar91
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August 14, 2019, 01:39:37 AM |
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This is one of the reasons why I am against the mandatory KYC verification. Now only god knows what these hackers are going to do with all those ID cards. BTW, there is something seriously wrong with Binance. This latest incident comes just a few months after some hacker stole BTC7,000 from their hot wallets. If I was a Binance user, then I would not keep any of my coins there.
It's normal to have a trust issue towards Binance since they are lacking a security from hackers. However, I will still use Binance since none of users get their wallet hacked as of now. Those BTC7k was from Binance funds, not from users' funds. On the other hand, it's better to just wait for the result of their investigation and don't submit any KYC requirement as it's still necessary to trade there without requiring to be a KYC approved.
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elda34b
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August 14, 2019, 10:56:07 AM |
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Those BTC7k was from Binance funds, not from users' funds. On the other hand, it's better to just wait for the result of their investigation and don't submit any KYC requirement as it's still necessary to trade there without requiring to be a KYC approved.
Are you saying that there are no user funds on Binance hot wallets? How do you know that btw? Agree, better not to do any KYC on any exchange from now on unless you can't avoid it. People should've learned from various hacks that there are no 100% secure cex. Binance included. Don't worship Binance as if they can do nothing wrong. Better safe than sorry.
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