Some people trust Binance stating that it won't get into such activities, whereas some had mentioned afterall they're into business. There is possible chances of data getting leaked through employees as binance have denied it. I have a doubt upon its new feature addition to support the Ukrainian refugees. Binance has launched a crypto card. This lets refugees from Ukraine make crypto transactions as well as receive funds through the Binance Visa Card. Maybe this can be an addition to cover-up the complaint against binance.
Binance announces crypto card for Ukrainian refugees
Topic: Binance is accused of providing users data to Russia - page 3. (Read 899 times)
Binance is a popular exchange around the world. The CEO of Binance has done a very good work in giving money to Ukraine.I will not say it is bad. But he should have remained neutral. Because its exchange is being used all over the world.Here, donating to Ukraine has created a rift between Russia.While this is a worrying fact, it is true that Binance needs it Paid Ukraine.This kind of help Binance always does.
When you are using a centralized exchange, you are trading your privacy for convenience. Assume that everything that you share with them - your ID, your address, your photo, all your transactions and trading data, will be shared with third parties. It can be your own government, foreign government, private companies and so on. And you never know what consequences it can have, maybe someone will decide to "cancel" or prosecute you over a transaction you did 10 years ago?
I believe in binance. They can't do this because they are the biggest and the most trusted exchange. They won't let their reputation go down the drain by doing such practice and in fact Russia is being avoided by everyone else including crypto exchanges because of what they did with Ukraine last time so why will they help this country? But, you as a user of a centralized exchange, you must already know the consequences. Your details can be seen by the platform that you are using and it can be leaked whenever the site got hacked or the site can sell it to someone else intentionally and they won't let you know for sure. They can also deny some allegations if someone suspects them of doing it.
Binance denied the alligation but I don't think binance can really do that, also I don't think they can be trusted, they already have all our details so it can be leaked by any of their staffs that have access to it. All I know is that if you are making use of centralized exchange just know that your details is in public already.
Unfortunately this is completely true, the Russian-Ukrainian war revealed many of the disadvantages of third-party services, especially privacy, I do not rule out the validity of this news because recently there was a problem with the Metamask application, which claims to be a decentralized application (maybe everyone heard of it), but unfortunately after the Russian war they banned many From Russian users or who live in pro-Russian countries, this is a third-party service application that is supposed to be decentralized and cannot access user data, but unfortunately it turns out that this application can access users’ data and does not maintain privacy. Exactly the same for Binance!!!
When you are using a centralized exchange, you are trading your privacy for convenience. Assume that everything that you share with them - your ID, your address, your photo, all your transactions and trading data, will be shared with third parties. It can be your own government, foreign government, private companies and so on. And you never know what consequences it can have, maybe someone will decide to "cancel" or prosecute you over a transaction you did 10 years ago?
I believe in binance. They can't do this because they are the biggest and the most trusted exchange. They won't let their reputation go down the drain by doing such practice and in fact Russia is being avoided by everyone else including crypto exchanges because of what they did with Ukraine last time so why will they help this country? But, you as a user of a centralized exchange, you must already know the consequences. Your details can be seen by the platform that you are using and it can be leaked whenever the site got hacked or the site can sell it to someone else intentionally and they won't let you know for sure. They can also deny some allegations if someone suspects them of doing it.
A few weeks ago and after the war started between Russia and Ukraine, the Russian government has shown many green lights to bitcoin and cryptocurrencies while a few days before that, they were going to suspend the bitcoin and cryptocurrencies according to some articles true or false, but right now since Binance is one of the biggest cryptocurrencies exchanges that's really normal to see the Russian government is trying to somehow take information from them including the user's data, here I would say the best thing is to stay away from these exchanges where you have to share the personal information to pass the pass, but I don't think of Binance is going to share this information, especially with the Russian government.
Someone said that CEX like Binance exchange et al will in no distant future resembles our today's banks in how they treat customers but there is hardly any thing that can be done about them because they are fast becoming a necessary evil.
I think they are already far worse than banks. If your bank locks your account or seizes your funds, then in most countries you have legal protection and routes you can go down to have your account and your money returned to you. If an exchange locks your account or seizes your funds, wave goodbye to your coins. If a bank scams you or goes bankrupt, then your money is probably protected or insured. If an exchange scams you or goes bankrupt, wave goodbye to your coins.Thankfully, centralized exchanges are not a necessarily evil. I've been involved with bitcoin for years, and actively buy, sell, trade, and spend it, and have never used a centralized exchange. With the ongoing growth of DEXs, both in terms of number and in terms of volume, centralized exchanges might be convenient, but they are not necessary.
everyone knows that centralized exchanges suck, but what choice do people have? use decentralized exchanges?
Yes, exactly that. Use DEXs.and what would it be like if everyone used it? how would people with fiat buy bitcoin? how would people withdraw bitcoin to fiat to use in the real world?
There are plenty of DEXs out there which support fiat/bitcoin pairs.How would institutional investors enter the cryptocurrency market?
Sure, institutional investors won't be able to use a DEX, but we are not institutional investors.These centralized exchanges can't do anything but follow the laws and regulations of the countries they want to do business with.
They could choose not to hand over details of individuals to human rights abusers who will likely arrest, poison, or torture them in order to be allowed to continue to make more profit. 
There isn't a single doubt that Binance and any other centralized exchange is handing over their entire user data to governments, note that it is plural and is not just Russia. They have never hesitated in doing so either. You think the dictators in Canada or US didn't receive detailed activities of all their citizens specifically the protesters that had an account on Binance or any other CEX?
Why is Binance making headlines once again for the wrong reasons?
Is it Binance in the headlines or is it Russia in the headlines? I think it is the later. If they can hit two birds with one stone (bash Russia and bitcoin at the same time) they won't hesitate. We are hopeless here, likely still Binance wondering to serve Russia and that's the reason they were forced to hand over user data to the government. That's the most disadvantageous and disappointing thing we have to encounter when using a centralized exchange. All the centralized exchanges will do the same, not only Binance. Blaming them not gonna change the fact of a centralized exchange. We should think about using dex, but the prevention is a Liquidity and complicated process. People become familiar with centralized exchange even though there is risk of sharing privacy.
Unfortunately, this is a process that we cannot stop. Over time, more and more different exchanges will cooperate with certain authorities of various states in order to stay afloat and continue to conduct their business and earn profit. I believe the information that Reuters wrote. I would like decentralized exchanges to continue to exist so that we have some choice. But we see that the chances of this are decreasing. 
Why is Binance making headlines once again for the wrong reasons?? Could these allegations be some kind of indirect assault from its competitors or this is news that can be backed by facts??
And if these guys are found with a case to answer for misuse of data, what's the worst that can happen to Binance?
Btw talking of Russia, isn't it Binance that refused to bar Russian clients from its platform when they said they have quite a large clientele from that part of the world
And if these guys are found with a case to answer for misuse of data, what's the worst that can happen to Binance?
Btw talking of Russia, isn't it Binance that refused to bar Russian clients from its platform when they said they have quite a large clientele from that part of the world
I doubt that these are just fabricated stories coming from Binance's competitors. We all know how Binance does business. They could easily change tune anytime. Binance is a chameleon. It could not be trusted, not with your money and not with your personal information.
It's not about the worst that could happen to Binance. It is about the worst that could happen to Binance users especially those who have made donations to Ukraine's cause. They have to be very careful now that their chosen exchange has sold their identities to the devil.
Binance refused to bar Russian clients. That must be part of the deal.
That is very true. There is always a possibility which Binance is more into business, they will always cooperate with governments for them to continue operating. It doesn't happen just only in Russia but in every country where Binance has office, they will comply with the government's demand.
For the users, I guess there is nothing we can do about it. BTC 10 years ago is not very valuable, it would be tragic to be sued jailed for a transaction you did 10 years ago.
look at how coinbase employees buy up pump and dump new listed coins, im sure all the big exchanges rob their customers with 50 different tricks
Why is Binance making headlines once again for the wrong reasons?? Could these allegations be some kind of indirect assault from its competitors or this is news that can be backed by facts??
And if these guys are found with a case to answer for misuse of data, what's the worst that can happen to Binance?
Btw talking of Russia, isn't it Binance that refused to bar Russian clients from its platform when they said they have quite a large clientele from that part of the world
And if these guys are found with a case to answer for misuse of data, what's the worst that can happen to Binance?
Btw talking of Russia, isn't it Binance that refused to bar Russian clients from its platform when they said they have quite a large clientele from that part of the world
I doubt that these are just fabricated stories coming from Binance's competitors. We all know how Binance does business. They could easily change tune anytime. Binance is a chameleon. It could not be trusted, not with your money and not with your personal information.
It's not about the worst that could happen to Binance. It is about the worst that could happen to Binance users especially those who have made donations to Ukraine's cause. They have to be very careful now that their chosen exchange has sold their identities to the devil.
Binance refused to bar Russian clients. That must be part of the deal.
Someone said that CEX like Binance exchange et al will in no distant future resembles our today's banks in how they treat customers but there is hardly any thing that can be done about them because they are fast becoming a necessary evil.
Many exchange users don't actually care about cryptocurrency, they're more interested in making profit from trading or even holding so they're ready to sacrifice their privacy.
Many exchange users don't actually care about cryptocurrency, they're more interested in making profit from trading or even holding so they're ready to sacrifice their privacy.
These centralized exchanges can't do anything but follow the laws and regulations of the countries they want to do business with. Hence, whatever the government is mandated to them, they will follow. So if you want to maintain privacy regarding your crypto transactions, then, limit your transactions with CEXs. And it is true, most of these traders are after for the profit, so they don't care if they are sending their kyc docs to these exchanges.
Reuters has published an investigation where they claim that Binance worked tightly with Russian government, including helping them track donations to opposition politicians
Binance made a statement where they denied all allegations
When you are using a centralized exchange, you are trading your privacy for convenience. Assume that everything that you share with them - your ID, your address, your photo, all your transactions and trading data, will be shared with third parties. It can be your own government, foreign government, private companies and so on. And you never know what consequences it can have, maybe someone will decide to "cancel" or prosecute you over a transaction you did 10 years ago?
Great news. Now people will finally realize that centralized exchanges are not their friends at all. There are real vile traitors pretending to be friends. Under no circumstances should trust them.Binance made a statement where they denied all allegations
When you are using a centralized exchange, you are trading your privacy for convenience. Assume that everything that you share with them - your ID, your address, your photo, all your transactions and trading data, will be shared with third parties. It can be your own government, foreign government, private companies and so on. And you never know what consequences it can have, maybe someone will decide to "cancel" or prosecute you over a transaction you did 10 years ago?
I'm afraid that even after this incident, many will still continue to use Binance. Only when users are directly touched by this problem will it have the desired effect, but it will be too late.
This is a real betrayal by Binance of its customers. It was expected, but it still seems unbelievable.
everyone knows that centralized exchanges suck, but what choice do people have? use decentralized exchanges? and what would it be like if everyone used it? how would people with fiat buy bitcoin? how would people withdraw bitcoin to fiat to use in the real world? How would institutional investors enter the cryptocurrency market? would they buy like without using a bank? everyone uses centralized exchanges because it's the only way they can buy using their country's bank.
about russia, honestly i am not shocked by this news since the owner of binance and chinese and of course china and russia get along very well, so it's not surprising these kinds of things, surprise would be if he sold the data to the US government USA. Another point, I've asked myself several times why the hell do we have to KYC on these anonymous and unlicensed exchanges and physical writing? are they complying with the law of which country? so I'm not shocked by this news of him selling data, this was something expected
Someone said that CEX like Binance exchange et al will in no distant future resembles our today's banks in how they treat customers but there is hardly any thing that can be done about them because they are fast becoming a necessary evil.
Many exchange users don't actually care about cryptocurrency, they're more interested in making profit from trading or even holding so they're ready to sacrifice their privacy.
Many exchange users don't actually care about cryptocurrency, they're more interested in making profit from trading or even holding so they're ready to sacrifice their privacy.
Does binance provide opportunity for private fundraising or donation asides in ICO? It does not just tally. If Binance really did that, that is conspiracy. The same binance denies America many information yet release to Russia because of threat. Their are chances Binance have dirty linens that they dont want Russia to expose, the information is traded at a cost that may be confidential to Binance.
Why is Binance making headlines once again for the wrong reasons?? Could these allegations be some kind of indirect assault from its competitors or this is news that can be backed by facts??
And if these guys are found with a case to answer for misuse of data, what's the worst that can happen to Binance?
Btw talking of Russia, isn't it Binance that refused to bar Russian clients from its platform when they said they have quite a large clientele from that part of the world
And if these guys are found with a case to answer for misuse of data, what's the worst that can happen to Binance?
Btw talking of Russia, isn't it Binance that refused to bar Russian clients from its platform when they said they have quite a large clientele from that part of the world
Reuters has published an investigation where they claim that Binance worked tightly with Russian government, including helping them track donations to opposition politicians
Binance made a statement where they denied all allegations
When you are using a centralized exchange, you are trading your privacy for convenience. Assume that everything that you share with them - your ID, your address, your photo, all your transactions and trading data, will be shared with third parties. It can be your own government, foreign government, private companies and so on. And you never know what consequences it can have, maybe someone will decide to "cancel" or prosecute you over a transaction you did 10 years ago?
Great news. Now people will finally realize that centralized exchanges are not their friends at all. There are real vile traitors pretending to be friends. Under no circumstances should trust them.Binance made a statement where they denied all allegations
When you are using a centralized exchange, you are trading your privacy for convenience. Assume that everything that you share with them - your ID, your address, your photo, all your transactions and trading data, will be shared with third parties. It can be your own government, foreign government, private companies and so on. And you never know what consequences it can have, maybe someone will decide to "cancel" or prosecute you over a transaction you did 10 years ago?
I'm afraid that even after this incident, many will still continue to use Binance. Only when users are directly touched by this problem will it have the desired effect, but it will be too late.
This is a real betrayal by Binance of its customers. It was expected, but it still seems unbelievable.
We are hopeless here, likely still Binance wondering to serve Russia and that's the reason they were forced to hand over user data to the government. That's the most disadvantageous and disappointing thing we have to encounter when using a centralized exchange. All the centralized exchanges will do the same, not only Binance. Blaming them not gonna change the fact of a centralized exchange. We should think about using dex, but the prevention is a Liquidity and complicated process. People become familiar with centralized exchange even though there is risk of sharing privacy.
If it's true, it's very sad and disappointing because I though Binance was being cool about the war. Not only did they donate 10 million to Ukraine, but they also made a charity foundation, basically encouraging others to donate, and they just recently set new limitations to Russian accounts with over 10,000 USD worth of money, in accordance with the sanctions. They do have a terrible ToS which allows them to share data pretty much the way they want, but helping a totalitarian government crack down opposition is just so not cool. Binance's explanation and published communication is quite lengthy. So I don't think that they willingly helped Russia with its political prosecutions. Maybe people were indeed prosecuted, and Binance was involved, but didn't realize that...
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