It seems like someone has a big hate on binance on why they are trying to discredit it lately. This negative news towards binance isn't alone but there's also one that I read last time though it's more on bnb but still we all know that binance owns that coin. While this news here looks normal because binance is the biggest and the most known exchange.
It is easy to trade big amounts here, no wonder why it is being preferred by the criminals that stoles bigger amounts but being the biggest should also mean that they are much stricter and their security is more stronger than most of the crypto exchangers so how come those criminals can get in and out of this exchange easily? Hhmm that's the big question there.
As they have compulsory KYC in binance at all levels of traders,
maybe these individuals who are into illegal activities are using some kind of emissaries.
You know, people with good records and all. They can use a lot of people that are willing to submit KYC in the platform.
So for me, they can go around this KYC requirement because some may not really be using their own info.
But rather, asking different people to do their trading. And they can distribute it so it won't give an alarm.
This is why, it is good that binance is already asking KYC for all users, maybe, to protect also the platform and to comply the government regulations.