Update: Binance, in a blog post, has revealed that an unidentified entity has threatened and harassed it and is demanding 300 BTC for in exchange for withholding 10,000 photos that bear resemblance to the KYC data of Binance users. The unidentified identity, after refusing to cooperate with Binance and continuing with threats of extortion, has begun distributing this data among public and media outlets. Binance has also claimed that this data is not consistent with the data on its system, and that it is investigating the situation.
On Wednesday morning, Bitcoin whale and crypto analyst who goes by the name of Krabby on Twitter tweeted that the popular cryptocurrency exchange Binance had been hacked and the KYC data of thousands of Binance users had been exposed on a Telegram group. The news created an uproar among crypto users on Twitter, but Binance CEO clarified that the news was old shortly after the incident.
KYC Data of Binance Users On A Telegram Group Chat
The alleged security breach was first announced on Twitter Wednesday morning by Krabby on Twitter. He tweeted –
BREAKING; Thousands of #Binance users KYC data has been hacked and all ID’s are posted in a telegram group chat….
@cz_binance needs to make binance more secure because this, along with the 7000 BTC “hack” a few months back, aren’t making binance look to trustworthy!
In another tweet, he shared the link of the concerned Telegram account where users could check if they had fallen victim to the hack.
The Telegram account countries the images of identity documents like passports of citizens of several countries including Japan, South Korea and Netherlands.
Changing Zhao Reacts, Says “Old News”
Reacting to the report, Binance CEO, Changpeng Zhao took to his twitter account to first assure the crypto community that an investigation was going on, and he would update on the situation shortly. Almost an hour after the tweet, Zhao updated his Twitter account again saying that the news was old.
yes, old news, different spin.
By then, several Twitter users including Dovey Wan had already tweeted that this was the same Binance KYC hack that had been reported earlier this year.