Explore the latest news and trends  

Sign up for our weekly security newsletter

Be the first to receive important updates on security


Hackers hold at ransom cryptocurrency exchange Binance with stolen customer data


Hackers are blackmailing Binance the cryptocurrency exchange while assert they've access to identity documents as well as passports of the exchange's customers. Binance has stated a person it doesn't know harassed and threatened it via demand made of 300 Bitcoins otherwise that person will keep with him 10,000 photographs which looked like the KYC database of Binance.


Incidentally, financial institutions are legally required to maintain KYC or Know-Your-Customer for collecting all its customers' identifying information when they want to trade, deposit or withdraw funds. It was August 7 when one Telegram group a creation of an admin, having "Guardian M" as its pseudonym gave out several hundred pictures of humans showing up their identities along with small papers on which was written "Binance 02/24/19," as the group alleged that the pictures were stolen from Binance.


The exchange responded same day saying the data spread through Telegram the channel didn't correspond with the information within its own system. Moreover, there wasn't any clue hitherto for proving the data straight away came from Binance itself.


The company stated the pictures didn't have its digital watermark which its systems imprinted. Further, its security team was diligently working towards scrutinizing all probable evidences while trying to detect the source from where the images came, since that was still unclear. www.coindesk.com posted this, August 7, 2019.


In addition, the exchange stated the unknown person earlier demanded 300 Bitcoins otherwise he'd keep with him those 10,000 photographs. When Binance snapped the conversation, he began giving out the photographs online as well as to news agencies.


Binance, however, does say the pictures seem as being from a database of February 2018, whence the company asked an intermediate vendor to process its KYC authentications. It's meanwhile unclear whether someone stole the hacked documents from Binance. The exchange is currently stressed for determining the culprit, especially since previously this year there was a security breach against it of an amount USD 40m.


In the meantime, other quarters are saying the alleged hacking news could just be one defrauding attempt for obtaining customers' data, with intent of garnering plentiful Binance users' Telegram accounts.


» SPAMfighter News - 8/19/2019

3 simple steps to update drivers on your Windows PCSlow PC? Optimize your Slow PC with SLOW-PCfighter!Email Cluttered with Spam? Free Spam Filter!

Dear Reader

We are happy to see you are reading our IT Security News.

We do believe, that the foundation for a good work environment starts with fast, secure and high performing computers. If you agree, then you should take a look at our Business Solutions to Spam Filter & Antivirus for even the latest version of Exchange Servers - your colleagues will appreciate it!

Go back to previous page