Binance Reveals New Details On The Recent Hack

You may recall that not too long ago, Binance was involved in an enormous scandal involving a hack.

New details about the hack surface

Binance’s security team said that there’s new evidence that just surfaced which shows that the stolen KYC images that have been publicized not too long ago, this month, are overlapping with the ones which have been processed by a third-party vendor which Binance had hired a few times back in 2017 and 2018.

Back in August, there were some rumors which began circulating about a massive KYC data leak on Binance.

The Binance security team stated that an unnamed individual had allegedly been threatening and harassing the exchange.

The person which was not identified was demanding 300 BTC back then which is now worth more than $3 million as an exchange for 10k customer photos that they said they had obtained.

The Daily Hodl revealed that there appear to be distinct sets of photos: ones that Binance now says “bear similarity to Binance KYC images” and “overlap with images that were processed by a third-party vendor,” and others that have been also photoshopped.

The images lack Binance KYC’s watermark

But on the other hand, none of the images appeared to bear the watermark affiliated with the company’s KYC procedure.

“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,” according to official notes from the exchange.

Binance continues and explains, “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.”

Read the complete update on this disturbing event in Binance’s notes.

Other than this, Binance was recently in the spotlight after it was revealed that the exchange is working to launch a new crypto lending platform.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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