Topic: Binance Swirled into ‘KYC Leak’ Turmoil, Binance not Safu Anymore - page 3. (Read 493 times)
August 08, 2019, 10:52:42 AM
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.
August 08, 2019, 10:47:29 AM
I think it would be very smart for investors to have some reservations against CZ & other Binance spokespeople, and not buy into their well oiled propaganda machine so haphazardly...
Binance has a very active presence on all social media, and they immediately block and silence most dissenters, so it would stand to reason there might be a discrepancy between the philanthropist impeccable self-image they are depicting vs reality.
Binance has a very active presence on all social media, and they immediately block and silence most dissenters, so it would stand to reason there might be a discrepancy between the philanthropist impeccable self-image they are depicting vs reality.
August 08, 2019, 10:27:31 AM
It wouldn't even surprise me if this turns out to be a competitor trying to make them look bad.
That would be an unprecedented bit of shenanigans, I think. I did not see the data that was leaked, but it sounds like it consists of a bunch of selfies holding ID if I'm reading this right, and that would take a lot of work for even the most dedicated saboteur.More likely Binance did get hacked or otherwise had their customers' data leaked from the inside. I'll definitely be watching this story unfold. But hey, this is the company that had 7000BTC stolen from them, right? Obviously there are security issues they might not have fully addressed if this all is true.
No exchange is totally safe anymore and none will ever will including the mighty Binance exchange!
Some are safer than others, though. I kind of thought Binance was fairly safe, but this kind of throws everything in doubt. August 08, 2019, 09:21:29 AM
It wouldn't even surprise me if this turns out to be a competitor trying to make them look bad. The competition between the countless services within crypto can turn real ugly real fast.
It's not a secret that a few exchanges are trying to benefit from Binance's US exit, and why not go a step further? OKEx has been very friendly towards BSV right after Binance's delisting announcement.
If we go back in time a bit, CZ actually worked for OKEx but ended up leaving to compete with them. It's somewhat of a conspiracy theory, but not completely unrealistic after their sudden BSV support hoping to onboard their users.
It's not a secret that a few exchanges are trying to benefit from Binance's US exit, and why not go a step further? OKEx has been very friendly towards BSV right after Binance's delisting announcement.
If we go back in time a bit, CZ actually worked for OKEx but ended up leaving to compete with them. It's somewhat of a conspiracy theory, but not completely unrealistic after their sudden BSV support hoping to onboard their users.
August 08, 2019, 08:13:37 AM
Absolutely! No exchange is totally safe anymore and none will ever will including the mighty Binance exchange! but I guess we cannot arrive on any conclusions just yet pending a thorough investigation on this matter. Sooner or later, the truth will eventually come out and then we could assess the integrity of Binance exchange but until then, we should be updated with latest news about this matter and be always be vigilant in terms of our own security in this digital world. Imho.
August 08, 2019, 12:52:02 AM
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.
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.
August 07, 2019, 10:01:08 PM
Three months after a serious security breach was discovered on Binance, when around 7,000 BTC was stolen from the platform, another hilarious incident came along. On Aug. 7, Binance was reportedly swirled into ‘KYC Leak’ turmoil, where a large number of Binance users’ private KYC information, including passport numbers, ID card, credit card number, were live-streamed in a Telegram group named “FIND YOUR BINANCE KYC”.
As of press time, more than 10,000 people have joined the telegram group. Multiple people have posted Binance users’ KYC pictures online. The incident reportedly has sent shock waves in the crypto community and is spreading further ahead. Changpeng Zhao or CZ, Founder and CEO of Binance, rushed to Twitter to calm down its followers at the very earliest, warning people not to fall into the “KYC leak” FUD, they are investigating, and will update the users shortly.
However, the latest response from its top management further agitated the users and caused a backlash from the community, with many claiming to withdraw their funds and deactivate their Binance accounts.
“FUD? Did you saw leaked passports with faces? how you will compensate this? binance is not safu...” said Andrew, a Twitter user.
“How is it FUD? there are literally hundreds of KYC identities on a telegram group free for all to see, containing the word "BINANCE" written by the user for KYC，” another man named Master Chang said.
Till now, it’s still not clear whether users’ information has been leaked or hacked, or otherwise it’s old news of 2018 as CZ claimed.
Whatever the truth is, Binance finds it in a series of troubles since this year, starting from May 7, when 7,000 BTC was compromised from its platform, worth about 41 million dollars at that time. BNB tumbled sharply following the incident, witnessing a decline of around 10% within 24 hours. Additionally, Binance Charity Foundation (BCF), the charity arm of Binance, has recently slid into a donation transparency crisis, where only under $6 million worth of crypto, less than half of the committed amount, could be accounted for on the website.
Plus, many users have complained that Binance IOS app has been down for months which Biance claimed to take serval days to bring it back. According to downdector.com, a leading website which detects the service interruptions and outages for digital firms, the most reported problems on Binance is “log in” and “breakdown” issues.
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.
As of press time, more than 10,000 people have joined the telegram group. Multiple people have posted Binance users’ KYC pictures online. The incident reportedly has sent shock waves in the crypto community and is spreading further ahead. Changpeng Zhao or CZ, Founder and CEO of Binance, rushed to Twitter to calm down its followers at the very earliest, warning people not to fall into the “KYC leak” FUD, they are investigating, and will update the users shortly.
However, the latest response from its top management further agitated the users and caused a backlash from the community, with many claiming to withdraw their funds and deactivate their Binance accounts.
“FUD? Did you saw leaked passports with faces? how you will compensate this? binance is not safu...” said Andrew, a Twitter user.
“How is it FUD? there are literally hundreds of KYC identities on a telegram group free for all to see, containing the word "BINANCE" written by the user for KYC，” another man named Master Chang said.
Till now, it’s still not clear whether users’ information has been leaked or hacked, or otherwise it’s old news of 2018 as CZ claimed.
Whatever the truth is, Binance finds it in a series of troubles since this year, starting from May 7, when 7,000 BTC was compromised from its platform, worth about 41 million dollars at that time. BNB tumbled sharply following the incident, witnessing a decline of around 10% within 24 hours. Additionally, Binance Charity Foundation (BCF), the charity arm of Binance, has recently slid into a donation transparency crisis, where only under $6 million worth of crypto, less than half of the committed amount, could be accounted for on the website.
Plus, many users have complained that Binance IOS app has been down for months which Biance claimed to take serval days to bring it back. According to downdector.com, a leading website which detects the service interruptions and outages for digital firms, the most reported problems on Binance is “log in” and “breakdown” issues.
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.
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