Quote from: abel1337 on July 21, 2020, 12:52:51 PM

Quote from: o_e_l_e_o on July 21, 2020, 11:24:18 AM

Quote from: kakonhat on July 21, 2020, 06:46:58 AM

We know Binance is a reputed cryptocurrency exchange. They are spreading all over the world and they are working with some regulation company. So, I think you could verify your identity without any worries.

Absolutely not true. Binance farm out their KYC to a bunch of third parties. One of these third parties was hacked last year and thousands of Binance customers' information, ID cards, passports, selfie, etc. were stolen. Other "reputable" exchanges have been caught selling customers' data to third parties. You have no idea how good their security is, which employees are accessing your data, who they are sharing your data with, how good their security is, and so on. Completing KYC is always a risk.

I didn't know this until today, It's my first time hearing about this info that binance is using third parties and one of it is hacked last year. Sometimes the inside job is the one causing the major problem about security in companies. Binance is one of the few sites that I have submitted KYC, I somehow lost the trust I have today about Binance security. I should be more cautious about my information that I have submitted.

That's exactly the whole point in business reputation. When I open a bank account or take out a loan, I give all my personal data, because I have an agreement with this bank and the bank has a license, and I can also defend my rights in court.
And now Binance is an illegitimate organization, it demands my personal data and video only because they thought my actions were "suspicious".