Binance CEO Denies KYC Leak, but Users Don’t Buy It

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Wed, 08/07/2019 - 06:56
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Alex Dovbnya
Binance tries to shrug off the leak as FUD, but users claim that KYC identities are legitimate
Binance CEO Denies KYC Leak, but Users Don’t Buy It
Cover image via twitter.com

It turned out to be a stormy day for Binance users after Reddit user LeagueOfEkko posted the news about an alleged leak of the exchange’s KYC data on the r/CryptoCurrency subreddit.

The photos of people holding their IDs, which are required for completing the account verification procedure, have been posted in a Telegram group.

The post was followed by a quick response from the Binance security team, which effectively denied these allegations.

Again, at the present time, no evidence has been supplied that indicates any KYC images have been obtained from Binance; these images do not contain the digital watermark imprinted by our system.

Changpeng Zhao, the CEO of Binance, soon encouraged the exchange’s users not to fall for this ‘KYC lead FUD,’ and promised to provide swift updates on the situation.

However, some of his followers insist that the matter should be taken seriously since it’s more than just FUD.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.