Binance Exchange KYC Leak

[cryptosix 1643]

This has happened in August 2019 and exchanges are forcing to submit KYC for verifying. If these exchanges can't secure our data, then what is the purpose of it. Do you really think the data was hacked by scammers or by the employees of Binance?

 

How can we trust a Exchange by putting our money with them?

You can read further from this link https://www.coindesk.com/binance-kyc-issue

 

[SyntaxEr. 709]

The KYC issue on binance was just a fud made by the competitors of it. The binance team said that they didn't store the KYC files of every user so it is impossible to leak.

[cryptosix 1643]

19 hours ago, heelsibat said:

I don't understand why an exchange site needs KYC for exchange. Those person who are working with Bitcoin he or she is not interested to provide there any of information. Because the owner or inventor of the Bitcoin Mr. Satoshi Nakamoto never revealed himself, why should I have to do? This is very much embarrassing to us. Now who will be responsible for this KYC leak? 

You are very true and these exchanges are just forcing us to reveal our money. Everyone is hiding their face, then why these guys want our identification?

9 hours ago, Ladidi said:

Binance is one of the best wallet for crypto currency.But now i am very upset to know about the kyc leak of binance . It is not good news for us.Because most of the people use binance and exchange with it. Those person who are working with Bitcoin he or she is notinterested to provide there any of information. Because the owner or inventor of the Bitcoin Mr. Satoshi Nakamoto never revealed himself, why should I have to do.

Please edit your post, else I have to report it for moderator as you copied some content from above poster.

2 hours ago, jore1 said:

So many brokers asked to confirm kyc, so unless we check kyc, they don't even let us withdraw funds, which makes me really don't want to join them. I don't trust at all. Any information I provide to them will be kept confidential.

Every exchange are similar like this and after providing our passport, they cannot keep our data safe int heir site.

35 minutes ago, SyntaxEr. said:

The KYC issue on binance was just a fud made by the competitors of it. The binance team said that they didn't store the KYC files of every user so it is impossible to leak.

Are you sure it is a Fud and the KYC files are safe? If they didn't stored, then how they verified or how they can verify in the future?

[SyntaxEr. 709]

2 minutes ago, cryptosix said:

Are you sure it is a Fud and the KYC files are safe? If they didn't stored, then how they verified or how they can verify in the future?

Yeah, it is 100% fud. About the KYC file they using a third-party service provider who is qualified to do KYC with their system the files of every user are safe because they didn't save any info of it and burnt it to ashes. 

[cryptosix 1643]

1 hour ago, SyntaxEr. said:

Yeah, it is 100% fud. About the KYC file they using a third-party service provider who is qualified to do KYC with their system the files of every user are safe because they didn't save any info of it and burnt it to ashes. 

Thanks for the information, so they are using third party system, I think it can be used with other exchanges too. Is the third party KYC available for every exchange or Binance only?

[SyntaxEr. 709]

17 hours ago, cryptosix said:

Thanks for the information, so they are using a third party system, I think it can be used with other exchanges too. Is the third party KYC available for every exchange or Binance only?

Every legit and qualified exchange are using third-party service to verify the KYC files of every user who did the KYC so rest assured.

[sdsonjoy50 886]

One of the sites that use Binance Exchange sites, I use this Exchange site myself, though it was amazing to hear about their KYC verification data leak, such an incident is really sad for us.

[vycl87 306]

4 minutes ago, Ilustration said:

This is human error actually bitmex also leak thousands of email last week all emails of user are leaked now and because of this many people withdraw their money on that platform. 

Unbelievable. I think they aren't taking serious their job. How they can compromise our emails information. If I were, I would be careful more than anything.

[vycl87 306]

23 minutes ago, Ilustration said:

Bitmex already confirm that email leak are from their exchange technician errors,  maybe because of hard work,  and all of us do unintentionally some mistake maybe big on me big on you and to others. 

It doesn't matter how they lose control on personal data. Trust is always most important thing about money. So I never trust Bitmax again.

[duncun007 3577]

On 11/22/2019 at 9:26 AM, cryptosix said:

This has happened in August 2019 and exchanges are forcing to submit KYC for verifying. If these exchanges can't secure our data, then what is the purpose of it. Do you really think the data was hacked by scammers or by the employees of Binance?

 

How can we trust a Exchange by putting our money with them?

You can read further from this link https://www.coindesk.com/binance-kyc-issue

 

it happened way before august 2019 my friend it was a leak from February 2018 and it was to cripple binance and ruin their reputation once and for all but those lucky guys lived on and got back from something that would've ended any other exchange.

[Jimmy 437]

No one knows whether it is from a binance employee or a hacker. Everyone has a different opinion and we can only assume. It is very unfortunate that important data like this can be leaked at one of the large exchanges like this, there is no fully safe exchange, the most important thing is prevention or responsibility, for example, it seems like when they are hacked they have already prepared SAFU funds to cover the loss.

[I-KUN 422]

I have read some news about this case, most of them said that the KYC data of their costumers has been sold by binance. That's why i always said, be careful when you want to submit your kyc in some exchangers, even it's a well-known and big exchangers. Because we don't know what will happen with our data in their hands.

[teminalibug 309]

We could and have trusted these exchanges with our money, sometimes they were hacked but paid US back, but what we should ask ourselves is can we trust them with our info/ID. Because if those are hack d there is not going back your ID could be used in criminal activities.

[Cryptominded 704]

On 11/22/2019 at 10:58 AM, heelsibat said:

I don't understand why an exchange site needs KYC for exchange. Those person who are working with Bitcoin he or she is not interested to provide there any of information. Because the owner or inventor of the Bitcoin Mr. Satoshi Nakamoto never revealed himself, why should I have to do? This is very much embarrassing to us. Now who will be responsible for this KYC leak? 

Not like the exchanges themselves are much interested in KYC but the authorities have imposed it on them citing Anti Money Laundering this and that, but the their main reason is to find a channel to still monitor and control people's finances as Bitcoin and cryptocurrencies basically disrupts their overriding power in controlling the financial sector.

[teminalibug 309]

1 hour ago, Kim K said:

This is actually the problem. In a world where my information can be traded on dark web and used for scamming activities in Identity theft, Binance leak, of true should worry anyone with KYC verifications on exchanges

That's why i hate KYC, but last time I used Binance there was no KYC, is there KYC requirement now?

[cryptosix 1643]

1 hour ago, CryptoMoney said:

That is why I do not lime jyc exchanges. Because someone's data can lek to the world at any time. 

From the above posts the KYC hasn't leaked and the news was fake, but still I am in confuse how do they use third party and then they verify later again?

 

[Sourovdeb890 416]

I truly loathe KYC includes in trades stage I think if all of trades stages will adjust this highlights I thought I my enthusiasm on digital currency will be diminished. what's more, Binance is a standout amongst other wallet for crypto currency.But now I am exceptionally disturbed to think about the kyc break of binance . It isn't uplifting news for us.Because the majority of the individuals use binance and trade with it. Those individual who are working with Bitcoin the person in question is notinterested to give there any of data. Since the proprietor or creator of the Bitcoin Mr. Satoshi Nakamoto never uncovered himself, for what reason should I need to do.

[teminalibug 309]

19 hours ago, Kim K said:

Binance has KYC option now even though it's not compulsory for certain category of traders but not passing KYC on Binance will sure limit your activities there

That sucks, and I hope it remains lie that and it does not come to a stage where it is not compulsory anymore, was this implemented recently or long time a go?

[teminalibug 309]

11 hours ago, Kim K said:

Binance KYC isn't a recent development as it didn't start this year. Though it isn't compulsory but it limits you. The only thing i see is it will get to a stage it will be compulsory

So you are saying that it will never get out of compulsory it will always stay compulsory?! I think different even for the KYC in blockchain.,com. They wont stay compulsory forever.

 

[teminalibug 309]

44 minutes ago, Kim K said:

The trend shows it will become compulsory. Exchanges started from no KYC till some of them gave room to kyc saying it's only optional but if you pass, your withdrawal is unlimited. A time will come when it will become compulsory on exchanges implementing KYC now. Just hope Yobit won't go that route

I hope so too for yobit, I think it is the reason cryptotalk picked yobit at the first place, because of no KYC requirement.

[Lubruselu 2803]

On 11/22/2019 at 9:26 AM, cryptosix said:

This has happened in August 2019 and exchanges are forcing to submit KYC for verifying. If these exchanges can't secure our data, then what is the purpose of it. Do you really think the data was hacked by scammers or by the employees of Binance?

 

How can we trust a Exchange by putting our money with them?

You can read further from this link https://www.coindesk.com/binance-kyc-issue

 

What's will happen if they force you to verify KYC while you have a balance on that exchange? And they can't allow you to withdraw till you get verified, and the bad thing you don't have ID cards.

[Naga 1250]

11 minutes ago, Lubruselu said:

What's will happen if they force you to verify KYC while you have a balance on that exchange? And they can't allow you to withdraw till you get verified, and the bad thing you don't have ID cards.

Well then your balance will be stuck on the exchange because moat exchanges that do kyc won't allow you to withdrawal your funds until you verify your account and thats why I stay away from kyc exchanges. 

[cryptosix 1643]

2 hours ago, Lubruselu said:

What's will happen if they force you to verify KYC while you have a balance on that exchange? And they can't allow you to withdraw till you get verified, and the bad thing you don't have ID cards.

We have ID cards even passport, but we are not interested to share with them  because it is a decentralized system and even the owners are not sharing their information with public.

They should verify before using the exchange or depositing money like Skrill, PayPal where they verify first and then we can use their platform.

[Naga 1250]

15 hours ago, cryptosix said:

We have ID cards even passport, but we are not interested to share with them  because it is a decentralized system and even the owners are not sharing their information with public.

They should verify before using the exchange or depositing money like Skrill, PayPal where they verify first and then we can use their platform.

Its sad that these exchanges are taking the privacy out of crypro because one thing people liked the most about crypto is privacy in everything from payments to trading but now they ask for kyc for everything even airdrops.

[Lubruselu 2803]

On 12/3/2019 at 12:55 PM, cryptosix said:

We have ID cards even passport, but we are not interested to share with them  because it is a decentralized system and even the owners are not sharing their information with public.

They should verify before using the exchange or depositing money like Skrill, PayPal where they verify first and then we can use their platform.

For me I don't like KYC verifications because I don't have non of them, but I couldn't know that you guys you don't like to share your credentials.