Binance announces compensation plan for victims of KYC hack

Binance compensation Plan

Cryptocurrency exchange Binance has announced a compensation plan for victims of the KYC hack that happened earlier this month.

Lifetime Binance VIP Members

According to the official blog post published on August 23rd, the exchange is offering a lifetime Binance VIP membership to users who were affected by the KYC hack. The membership will include preferential trading fees, support and “more services,”.

Binance says the investigation into the hack is ongoing. Binance also puts some of the responsibility for the hack on third-party vendors.

During our review of the leaked images, there were multiple photoshopped or otherwise altered images which do not match the KYC images in our database and are being accounted into the comprehensive investigation. In addition, every image processed through Binance for KYC purposes is embedded with a concealed digital watermark, which was notably absent from all of the leaked images.

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