Binance Team Denies KYC Data Leaks on the Dark Web

Feb. 5, 2024
Binance Team Denies KYC Data Leaks on the Dark Web

Binance has denied any data breach after a report claimed that some of its internal passwords and code had been leaked on GitHub for months. Binance provides multifactor authentication, biometric authentication, and so on to ensure users’ account security is checked. In the latest development, the data dump from the GitHub hack reveals potential threats to Binance users.

A large amount of KYC information is now available on dark web platforms. The significant impact on the market has prompted a strong response from Binance’s team, as they were compelled to address the situation and provide a reaction.

Binance’s Security Team Ensures Safety

In response to recent user concerns, Binance’s security team thoroughly evaluated the matter, as is standard for any possible threat. The team has established no evidence of a leak from Binance’s systems, and user accounts remain secure.

Binance indicates to users that their accounts are protected against various possible threats. The exchange has implemented many layers of protection, including Multifactor Authentication (MFA), biometrics, and authenticators.

Binance appreciates users who report potential bugs and security problems. Proactive reporting also enables the platform to evaluate any issues properly and, if required, take immediate action to improve user protection. Furthermore, Binance declared its dedication to providing its users superior security as the cryptocurrency market changes.

Binance froze $4.2 million in XRP last week after identifying a theft from co-founder Chris Larsen’s account. Binance CEO Richard Teng confirmed he would cooperate with Ripple’s investigation and put the exploiter’s external wallets on close watch.

Combatting the Surge in Cryptocurrency Scams

Last week, a troubling resurgence of cryptocurrency scams alarmed Binance as it sought to exploit prevailing conditions in the market. Most importantly, the scammers’ identities included industry figure Yi He, co-founder of Binance.

Additionally, false implications targeted Anndy Lian, a renowned author in the blockchain space. Impersonators have created illegal LinkedIn accounts using Yi He’s identity to approach potential victims. They offer token listings on Binance in exchange for large payments.

Yi emphasized her minimal involvement with LinkedIn and non-participation in listing discussions. Moreover, She urged caution against false claims of insider connections. Additionally, Anndy Lian unveils WhatsApp scams where fraudsters pose as Binance’s employees, luring one to join a cryptocurrency group to get a passive income.

Related Reading | Crypto Instructor Faces SEC Charges Over $1.2M AI Hedge Fund Scam

Rida Fatima

News writer
An ardent wordsmith with a rich five-year background in delving into the realms of finance and cryptocurrencies. Alongside curating captivating blogs, Unique's talents extend to crafting imaginative and engaging content.