Binance Offers 25BTC Reward To Those Help in Catching the KYC Data Breach Culprit!

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After facing a huge 7000BTC hack in May this year, Binance, the world’s biggest exchange by volume, has again fallen into a controversy of a data breach. On August 7th this month, some users on Twitter started accusing Binance for KYC data breach on the name of a hacker, who’s running a telegram channel with the pseudonym “Guardian M” distributing KYC pictures of Binance users.

Binance Offers 25BTC Reward To Those Help in Catching the KYC Data Breach Culprit!

Binance Offers 25BTC Reward
Binance Offers 25BTC Reward

Somehow, the hacker had a chat with Binance asking ransom. When Binance cut conversing with him/her after refusing to give up demanded samples, he began circulating a few of them in some closed Telegram groups.

Binance claims that the data, which was said to be leaked is not matching with its system records and there’s no legitimacy that they were obtained from the exchange. Further defended “as these images do not contain the digital watermark imprinted by our system. With that said, our security team is hard at work pursuing all possible leads in an attempt to identify the source of these images.

Binance believes the hacker to be bluffing as he says he’s been having the KYC data of other exchanges too. And when asked for a proof or sample, he refused to show up and immediately demanded 300BTC in ransom. Binance says that it’s going through the activities to find out facts. As in February, it contracted a third-party service provider for doing up the KYCs to handle the peak registrations volume.

Coindesk’s Claims!

A crypto news provider, Coindesk has published an article if Binance’s hack and claims to have samples of at least 1000 KYC data from the leaked total (60,000), supplied by hacker for verification. And Coindesk claims to have verified a few of those customers and concluded them to be true.

While Binance assures everyone that they keep users data safe, the team declares a reward for those who helped them in finding out the culprit. In its statement, it said, “If you can provide any information to help identify this person and allow us to pursue the individual through legal action, we will offer a reward of up to 25 BTC, dependent on the relevance of the data supplied. You may submit this information by opening a support ticket at https://support.binance.com.

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