Binance’s KYC hack victims will receive free, lifetime VIP membership accounts, the binance crypto exchange confirmed in the latest update. As per the investigation, the KYC hack incident affected up to 60,000 users, and these users are actually lucky enough to enjoy Binance’s premium service for free.
On August 23, Binance broke out an announcement, entitling “Update & Action Response: Third-Party Vendor KYC Matter” which is an update to the KYC leak incident affecting few Binance users.
Early this month, Binance caught with what is called “Potential KYC leak.” While Binance CEO, CZ called it a fud, the exchange has recently noticed that some of the photos match actual accounts while others lack vital details.
During the KYC leak debate on social network Twitter, Binance denied the claim and stated that the team is hard at its investigation. Later the exchange asserted;
“We would like to inform you that an unidentified individual has threatened and harassed us, demanding 300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data,”
Binance Offering VIP Service to KYC Hack Victims
Nevertheless, the latest update of Binance which is corresponding to the earlier breach of KYC data outlined that;
The latest evidence of this investigation indicates that some of the leaked images overlap with images that were processed by a third-party vendor, which Binance contracted a few times between early December 2017 and late February 2018.
Binance team wrote that the multiple images were photoshopped/edited, which aren’t the exact match with the KYC images in its database. It further adds that the photos that processed from its KYC contain a digital watermark which was “notably absent from all of the leaked images,” it said.
According to Binance’s own research, modified KYC documents have been used to create accounts on Binance and claims that much such information hasn’t been verified via Binance’s own sources. The exchange outlined it as follows;
“We have robust measures in place to safeguard our customers’ assets and information, including an updated KYC verification system and AI-based facial verification function introduced in 2018, as well as the storage and indexing of KYC data with sophisticated data security technology upgraded in 2019,”
Besides, Binance back in May 2019 suffered the hack, resulting roughly $40 million funds lost in thin air.
Conclusively, KYC Hack Victims will receive refunds and other preferential services as they will now have access to the features that only VIP Binance users can enjoy.
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