{"id":14866,"date":"2019-08-09T08:41:20","date_gmt":"2019-08-09T07:41:20","guid":{"rendered":"https:\/\/traders-paradise.com\/?p=14866"},"modified":"2020-07-07T14:04:13","modified_gmt":"2020-07-07T13:04:13","slug":"binance-security-warning-for-its-crypto-users","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2019\/08\/binance-security-warning-for-its-crypto-users\/","title":{"rendered":"Binance Security Warning For Its Crypto Users"},"content":{"rendered":"

2 min read<\/em><\/p>\n

\"Binance<\/p>\n

 <\/p>\n

Binance security warning was issued for crypto exchange users. The world\u2019s largest cryptocurrency exchange<\/a> warned users that they are investigating the possibility of leaking of verification data, reported Forbes. That could hit up to 60,000 users who gave personal identification data to Binance during the last year, also Coindesk reported.<\/span><\/p>\n

According to Binance security warning, a hacker announced to hold 10,000 photos of users that have some connections to the exchanges know-your-customer data. KYC is a legal demand by financial companies to prevent money laundering and fraud. It is an obligation for all customers who want to trade, deposit or withdraw funds. Every customer has to provide such information for this cryptocurrency exchange.<\/span><\/p>\n

The Bitcoin and cryptocurrency exchange, which is based in Malta, announced it was blackmailed by the hacker. The hacker was demanding $3,5 million worth 300 bitcoin. Binance revealed the “inconsistencies”. They compared the hacker’s data to the data in its system, and found “no evidence has been supplied that indicates any KYC images have been obtained from Binance.”<\/span><\/p>\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n