The company said it is investigating the situation with the help of a third-party vendor
Binance, the world’s largest cryptocurrency exchange by volume, has offered a reward of $290,000 (Rs 2.03 crore) for information on a blackmailer threatening to release customer data.
The 'unidentified individual' has demanded 300 bitcoins in exchange for 10,000 photos that resemble Binance know-your-customer (KYC) data, the cryptocurrency exchange said in a statement.
“At present, no evidence has been supplied which could indicate that the KYC images were obtained from Binance. Moreover, these images do not contain the digital watermark imprinted by our system," it said.
The company said it is investigating the situation with the help of a third-party vendor.
Don't fall into the "KYC leak" FUD. We are investigating, will update shortly.
— CZ Binance (@cz_binance) August 7, 2019
If you are able to provide any information to help identify this person and allow us to pursue the individual through legal recourse, we will offer a reward of up to 25 bitcoins, depending on the relevance of the data supplied.
Binance, headquartered in Malta, was founded by Zhao in 2017. Asian cryptocurrency exchanges have become popular as their guidelines are believed to be less stringent.
Cryptocurrency exchanges are often soft targets for hackers, with over $1.5 billion stolen from exchanges in the past 10 years, according to a report.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.