Alleged KYC Hack: Unidentified Individual Demands $3.5 Million in BTC from Binance Exchange - Today's Gazette - Cryptocurrency, Bitcoin News
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Alleged KYC Hack: Unidentified Individual Demands $3.5 Million in BTC from Binance Exchange

More info on Binance Hack Erupts, As Dozens of Security Experts Garner Support for Exchange

Cryptocurrency

Alleged KYC Hack: Unidentified Individual Demands $3.5 Million in BTC from Binance Exchange

The Binance security team has hastily refuted the widespread KYC hack allegation that is being shared on the internet, claiming “an unidentified individual has threatened and harassed” the exchange, demanding around demanding 300 BTC, approximately $3.6 million as at the time of writing.

According to the team, the unidentified hacker is demanding the said amount in exchange for withholding 10,000 photos that have semblance with Binance KYC data.

Although, the exchange is still not sure if the 10,000 photos are that of Binance customers, the security team says it is still making findings on the legitimacy and relevancy of the idea.

According to security team, Binance refused to corporate with the individual,and the hacker has since then been distributing the data to the public and to news platforms across the globe.

According to the security team, the data presented to the public is not consistent with the ones in Binance’s database.

“No evidence has been supplied that indicates any KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system,” the security team claims.

Also READ  Binance Compensates Customers Affected in KYC Hack with Lifetime VIP Memberships

Despite this, Binance security team is up and doing to identify the source of these images.

The exchange said the images appear like that presented in February 2018 when the KYC data was first said to be leaked.

However, owing to the volume of requests at that time, Binance says it has contracted the KYC verification to a third-party vendor.

At the moment, nothing could be said other than for the public to discard the data since Binance is investigating with the said third-party vendor for more information.

Binance Willing to Offer 25 BTC

In the same line, the hackers claimed he has KYC information from multiple exchanges. When Binance asked the individual to authenticate the data, but he demanded 300 BTC and did not supply “irrefutable evidence” of their findings.

“Later, they went to the press under false pretenses, posing as a white hat with good intentions,” Binance security team revealed.

Now, Binance Exchange has briefed relevant law enforcement agencies on the issue while they make move to arrest the alleged hacker.

Meanwhile, for anyone who’s willing to reveal the identity of the said hacker, Binance security team says they are ready offer a reward of up to 25 BTC for such gesture.

Also READ  Binance Compensates Customers Affected in KYC Hack with Lifetime VIP Memberships

Cryptobuyer Opens Binance Coin to Over 200 Stores in Latin America

Cryptobuyer has integrated Binance Coin on over 200 stores across Latin America. As revealed by the platform, Binance has been integrated on over two hundred point-of-sale stores and retail chains in the region.

Cryptobuyer’s payment gateway has crypto ATM, over 50,000 users and a working cryptocurrency payment solution.

One of Cryptobuyer’s clients, Traki, is referenced as the largest retail chain in Venezuela having more than 46 superstores.

Olayode grows businesses and develop ideas! He has made meaningful guest contributions to Huffington Post, Oracle Times, The Independent Republic and a host of other tech platforms.He's a blockchain enthusiast, with love for international politics.

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