Binance Announced Free Lifetime VIP Membership for KYC Leak Victims
The leading cryptocurrency exchange Binance announced that they will offer free lifetime VIP membership to all users that are affected by the recent KYC (Know Your Customer) leaked images.
Binance announced this on 23 Aug in an official post, the post explains that currently, Binance is contacting all the users that are affected by the KYC leaks. Binance highly recommends the affected users that they should apply for new verification documents in their regions.
The post further explains:
“We are compensating affected users with a lifetime Binance VIP membership, including preferential trading fees, support, and more services.”
Protecting User Privacy
This is not the first time Binance KYC data is leaked, back in 2018 Binance data was leaked by and unidentical hacker. The exchange’s security and investigation team is trying to find the source of the data and the hacker.
The leak was announced by Binance on 7 Aug, an unidentified party/user threatened the exchange and demanded 300 Bitcoins (BTC) in return for 10,000 photographs of KYC data.
Binance also explains that some of the leaked images are overlapped with the images that are verified a third party vendor from early December 2018 to late February 2019.
After reviewing the leaked images, Binance team found most of the images are photoshopped or altered which does not match in the KYC database of Binance. The exchange also explains that all the images are processed by the KYC database is embedded a digital watermark which is not found on any of the leaked images.
Bitcoinik reported that Binance has added a new feature named OCO (One Cancel Other) order. Users can now place both buy and sell orders simultaneously and if any of the order got filled the other one is automatically cancelled. The past week Binance also announced its new Blockchain project ‘Venus’ to compete Facebook Libra Cryptocurrency project.
