Post
Topic
Board Trading Discussion
Re: Are USA traders saying sayonara to Binance? (The Exodus Is Here?)
by
exstasie
on 08/08/2019, 16:46:41 UTC
What is going on with today's news about Binance accounts being hacked?  What happened?

I have not logged in to my Binance account, but I have funds sitting there at their exchange, hopefully....

No funds were taken. In fact, it doesn't look like Binance was hacked at all.

Apparently there was some KYC data leaked around February 2018. Binance has said repeatedly there are no indications the data came directly from their database (they watermark these types of photos). They were using a third party vendor to process KYC overflow at that time and are implying that's how the data was stolen.

This is what Binance announced yesterday in response to the rumors:

Quote
First and foremost, there are inconsistencies when comparing this data to the data in our system. At the present time, no evidence has been supplied that indicates any KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system.

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.