Binance hack, a stark reminder of why alternative KYC solutions are critical

By CryptoTapas.com | Bitcoinz News | 8 Aug 2019


Binance, one of the most trusted names in the Crypto space has been facing some hurdles recently.  

The woes started when over 7000 Bitcoins were stolen last year from the exchange. For the massive trading volume and the trust people have come to place on Binance, the financial loss was quickly dusted off.

However, recent KYC leaks and extortion drama revealed that the hackers took much more than just the Bitcoins.  

According to the information provided by the hackers to Coindesk, it looks like hackers have got hold of 60,000 KYC records containing sensitive information.  

Crypto winter that started last year has turned into a never ending nightmare testing the faith of the Crypto enthusiasts and people working in the space relentlessly.

Financial losses are one thing. 

Read the complete article here.

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CryptoTapas.com
CryptoTapas.com

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