Binance Coin (BNB) Price Surprisingly Goes Up Over 10% After KYC Leak Rumors

You can spot a strong cryptocurrency when prices continue to go up even during the most tumultuous times. Despite several rumors related to Know Your Customer (KYC) leaks, Binance Coin (BNB) has gone up over 12% today.

According to CoinMarketCap (CMC), BNB tokens are currently worth $30.47 at the time of this report. Yesterday, they were valued at around $27.50 and went as high as $30.90 before settling down to the current price. The last time the prices were above $30 was a few days ago, on July 23. At the moment, BNB is in the 6th place by market cap.

The KYC Leak Controversy

Most investors believe that the prices went up because the rumors around the KYC leaks are starting to get weaker now and people have started to determine that the incident will not affect prices.

Yesterday, Binance entered the spotlight because of an alleged KYC leak that involved personal documents of users. However, the Telegram group that leaked the documents was being discredited by some people. One of the reasons for that is that the leaked images did not contain the Binance watermark.

According to Binance, though, the leak may be real. The company outsourced some of its KYC procedures to another company back in February 2018 and the company was hacked later, so they may have lost some data.

Despite the issues, it seems that Binance continues to be strong. The exchange was hacked and it lost USD 40 million this year, but it seems that no tragedy can take the company down.

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Hank Klinger
Hank Klinger
Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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