FUD Or Fact: Binance KYC Leak Demanding 300 BTC In Exchange For 10,000 Know Your Customer Images


  • Binance CEO Changeng Zhao refute claims for hackers gaining access to any confidential user information, calls it a FUD
  • Binance official statement reveals an unidentified individual demanding a ransom of 300 BTC
  • Documents bear inconsistencies, a third-party vendor could be the attack point
  • A reward of up to 25 BTC offered by the exchange to identify the person

Trader BitKrabs took to Twitter to share the news of the hacking of Binance users’ know-your-customer data that has been posted in a telegram group chat on August 7.

The dedicated Telegram group featured the documents that has more than 8,000 members. Social media users panicked after what appears to be fake documents posted to the group showed figures posing with personal documents — apparently Binnance users.

Changpeng Zhao, the CEO of cryptocurrency exchange Binance refuted claims that hackers have gained access to confidential user information, saying this has been just an attempt to spread FUD.

“Don't fall into the “KYC leak” FUD. We are investigating.” he wrote.

“Inconsistencies” In The Data

In its official statement, Binance revealed that an unidentified individual has threatened and demanded 300 BTC in exchange for withholding 10,000 photos that “bear similarity to Binance KYC data.”

The exchange is not sure yet and is still investigating the case for “legitimacy and relevancy.”

“After refusing to cooperate and continuing with this extortion, this individual has begun distributing the data to the public and to media outlets,” wrote Binance Security Team.

However, the team is still not sure of the documents’ authenticity as there are “inconsistencies” in the data.

Additionally, there is no evidence that KYC images have been obtained from Binance and further doesn't contain the “digital watermark” imprinted by the exchange.

Could Be The Same Old Data From January

There could, however, be an error on the third-party side as Binance says, “On initial review of the images made public, they all appear to be dated from February of 2018, at which time Binance had contracted a third-party vendor for KYC verification in order to handle the high volume of requests at that time.”

The exchange also believes this could be the same data from January 2019 when a darknet hacker revealed hundreds of images purporting to be stolen KYC data.

In order to identify and catch the person, Binance is offering a reward of up to 25 BTC — for which one can submit the information by opening a support ticket at https://support.binance.com.

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