Post
Topic
Board Trading Discussion
Re: Has any exchange forced you.to do KYC or the third level KYC?
by
Potato Chips
on 09/07/2025, 23:45:32 UTC
I don't think worry about document ID submitting at Binance or Coinbase exchange because our document keep secure and not publish yet for selling at dark market...

It's strange that you haven't heard that hackers obtained the documents of about 69,000 Coinbase customers at the end of 2024 - https://cryptobriefing.com/coinbase-data-breach-69k-users/. After that, they extorted $ 20 million from Coinbase for the return of these documents. It should be noted that it cost Coinbase $400 million to compensate the victims.

Good point. I would also like to add that binance users suffered from a data breach as well in the past: https://cointelegraph.com/news/binance-kyc-breach-did-it-happen-and-if-so-whos-to-blame

Though binance were claiming the leak came from a third party service they used, it doesn't change the fact that thousands of KYC data are already out there—damage was already done, thus the risk. I suppose this is another thing to worry about as exchanges can share our information to third parties, thus threats could come frrom various places.