The popular and recognized cryptocurrency exchange Binance informed that some leaked KYC images overlap with the ones that a third party company handled a few years ago. A few weeks ago, the exchange informed that unidentified individuals threatened and harassed them not to share 10,000 screenshots related to Binance KYC. The information was released by the cryptocurrency exchange a few hours ago in a blog post.
Binance Exchange Protects Users
The cryptocurrency exchange informed that although the investigation is still ongoing, the security and investigation team detected that some of the leaked images overlap with images processed by a third-party vendor. This third-party company worked with Binance between December 2017 and February 2018.
According to Binance, there were multiply photoshopped or altered images that did not match the KYC images they had in their database. Moreover, they explained that the images they process through Binance for KYC issues and purposes have a digital watermark included. In all the leaked images there was no watermark.
In order to avoid further problems with users, the company is now contacting them with their guidance on privacy protection and restitution. They are also urging users that were affected by these issues to apply for new identification documents.
Individuals that have been affected will receive a lifetime Binance VIP membership that includes reduced trading fees, priority support, and many other things. Furthermore, the exchange is requesting users to contact the firm about restitution by submitting a request on the Binance Customer Support Center.
In the blog post, the company explained:
“Protecting our users and keeping our systems secure is our utmost priority. We will continue to improve our systems and processes in our service to the community in a fast-changing industry.”
As mentioned before, Binance is one of the largest and most popular exchanges in the cryptocurrency space. They have been operating since 2017 and since that time they became one of the dominant platforms in the space. They have not only released an exchange platform but they have also expanded their services and products to many other sectors in the crypto industry.
A few months ago, Binance was affected by a hack that resulted in the loss of over 7,000 BTC, worth $40 million at that time. This was something that shocked the company that didn’t have any major security issue since being launched.
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