Binance Exchange will provide VIP status to customers affected by data leakage

The largest cryptocurrency exchange Binance decided to compensate for the damage caused to customers whose KYC data was published by an unknown hacker. All victims will receive lifetime VIP accounts.

In an updated release, the marketplace thanked customers for their patience and said that the security service has been looking for a source of KYC data leakage day and night for the past few weeks. The Binance security team made it clear that every injured user will receive lifetime VIP membership at the site, which includes “preferential commission rates, support” and other pleasant things.

As Binance confirms, the images leaked into the network coincide with the data processed by the third-party service provider whose service Binance used in December 2017 and at the end of February 2018.

The audit revealed a lot of fake, edited or otherwise altered images that did not have a special label, which is mandatory put by the exchange during processing in order to identify users. However, the marketplace decided to compensate all affected users for damage caused by data leakage.

Binance also said that it tried to contact all potential victims, informing them of the necessary measures to protect data and taking care of their safety. In particular, it was recommended that all victims receive new documents, if possible.

In order to ensure the safety of its customers, Binance has updated its KYC verification system and artificial intelligence based face verification function.

The hacker, before sharing images with news platforms, requested Binance 300 BTC. In turn, Binance not only refused to pay the required amount, but also appointed a fee of 25 BTC for the capture of the offender.

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