After seizing the data, the attackers attempted to extort Coinbase, demanding $20 million in exchange for not publishing the details of the breach. However, Coinbase did not pay the ransom. The attackers managed to steal customers' names, phone numbers, email addresses, and government-issued documents such as national IDs, passports, and driver's licenses.
Why should
anyone even bother to submit their documents to random no-name platforms, when even the most reputable exchanges can't even safeguard their own customers' documents from being stolen? I want to hear one good reason.
...
See? There are none!
Don't use a KYC exchange if you can possibly help it. The fewer places your identity is used, the less likely it is that you will end up a victim of identity theft and fraud.