Serious Security Warning Issued For World’s Biggest Bitcoin And Crypto Exchange, Binance

Story by: Billy Bambrough

Bitcoin and cryptocurrency exchange hacks and security breaches are still a common occurrence but the biggest bitcoin market places are working hard to change this—with mixed success.

The bitcoin price regularly takes a beating due to bitcoin exchanges and cryptocurrency platforms losing its user’s data and, in worst cases, their actual coins.

Now, Binance, the world’s largest cryptocurrency exchange by trading volume which has built a reputation of transparency and reliability, has warned users it’s investigating an alleged leak of verification data.

The alleged security leak could affect up to 60,000 individual users who sent identification information to Binance over the last year, bitcoin and cryptocurrency news website Coindeskreported.

According to Binance, a hacker has claimed to posses 10,000 images of users that hold some similarities to the exchanges know-your-customer (KYC) data, a legal requirement by financial institutions for all customers attempting to trade, withdraw and deposit funds to help prevent money laundering and fraud.

Original story: https://tinyurl.com/yxvns78o

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