Binance Says Leaked Crypto Exchange User KYC Data Doesn’t Affect Its Accounts

KYC Data
KYC Data

Binance, a cryptocurrency exchange, has recently made a statement claiming that the leaked cryptocurrency exchange user know-your-customer (KYC) data isn’t from its users, as it uses digital watermarks on every user picture it collects.

Of recent, a hacker going by “ExploitDOT” was selling leaked KYC data from cryptocurrency exchange user son the dark web, after seeing three pictures of individuals holding up a piece of paper with the word “Binance” and the date the picture was taken at in them, while holding their identity cards or drivers’ licenses next to them.

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While these had the word Binance in them, the hacker publicized KYC information from driving trades, including Bittrex, Poloniex, and Bitfinex. While at first the digital money network generally rejected the report as false, soon the hacker posted verification he/she has spilled KYC pictures from crypto trade clients after apparently feeling incited.

Binance has now made known that it has evidence indicating the leaked KYC pictures “are not from Binance accounts.” In a statement, the cryptocurrency exchange noted security is its top priority, and it has “various measures in place to ensure safe-keeping” of its customers’ information.

Binance KYC data, it adds, is “stored and indexed with fine-grained permission controls and further protected by stringent security audits.”

The statement reads:

To elaborate, in regards to the image data we collect from our customers during the KYC process, every image that the Binance system processes for KYC purposes is embedded with a hidden Digital Watermark.”

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