Binance cryptocurrency exchange blackmailed over customer data 'hack'

Aug 8, 2019👎Bearish

Cryptocurrency exchange Binance is being blackmailed by hackers that claim to have access to customer passport and identity documents.

Some of the KYC data -- which is photographic "know your customer" data -- has begun circulating online after Binance refused to pay the 300 BTC, equivalent to around $3.5 million.

The company did note, though, that the images appear to be from February 2018, a time when Binance outsourced its KYC verification processes to a third-party vendor.

While it's not clear if the leaked documents have been stolen from Binance, one of its partners or another source altogether, Binance is now under pressure to identify the individual behind the blackmail attempt -- particularly as it was the subject of a $40 million security breach earlier this year.

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