Hacker blackmails Binance over KYC data

binance coin top 5 by 2020

An anonymous hacker blackmails Binance over the know your customer (KYC) data that was stolen from the cryptocurrency exchange.

An anonymous person is demanding three hundred Bitcoin, which are worth a little over three million (3.5) dollars from a cryptocurrency exchange Binance and warned of releasing ten thousand images of allegedly stolen data of Know-Your-Customer (KYC) if the demand is not fulfilled.

The globally leading digital currency exchange Binance made an announcement and stated that the exchange is reviewing this case for relevance and legitimacy, but also noted that discrepancies were also found in the data published, as compared to Binance’s system information.

Binance stated that currently no proof has been provided that could prove that any KYC photos were taken from the exchange Binance; as those pictures do not have the digitally imprinted watermark of Binance’s system.

Previously, at the start of this year, a story of data hack surfaced in which a message was posted by a hacker with links of twenty –six groups of images that were supposedly stolen from the exchanges: Kraken and Binance.

Although both the platforms proved that their systems were not broken, but due to phishing attacks or breaching of third-party KYC, the data could have been obtained from there.

As per Binance’s statement, the released photos seem to be from back in February, when third party vendor was contacted by the exchange for the verification of KYC for management of the large volume of requests received then.

Furthermore, Binance revealed that when the individual was asked to indicate the data source, a demand of three hundred Bitcoin was put forward and refused to provide any proof for their findings.

Lastly, Binance has offered to reward with twenty-five Bitcoin for any information that would lead to the hacker.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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