Binance offers 25 bitcoins in exchange for information about the person who attempted to extort funds from the exchange and now they are even starting an investigation in the matter so let’s find out more about it in the coming altcoin news below.
One week ago, the Malta-based crypto exchange Binance stated that there was an unsuccessful extortion attempt. The blackmailer started distributing know-your-customer images and photos of traders holding their personal IDs in a Telegram chat room. Under the name Guardian M, the blackmailer asserted that the pictures were from the Binance crypto exchange and some other exchanges. One of those publications has been since confirmed with some of the traders that their apparent KYC photos were real. The outlet also confirmed that there was an affected individual in the process but later turned out that the information on the ID was falsified.
It is still unclear how much of the data is authentic and where it comes from. The images could derive from a third-party provider or a phishing campaign that could have ensnared the identities of many individuals. The KYC data dump is not a result of an attempted exchange hack according to the Binance platform. In a new announcement, the exchange issued a ‘’Statement on False KYC Leak’’ where it reveals that an anonymous person was demanding 300 in BTC for withholding 10,000 photos. This is why now Binance offers to pay up to 25 bitcoins in order to find the attacker. The exchange noticed that the data dump didn’t appear to come from binance itself and even had photos that the exchange didn’t put their in-house watermarks in.
What is also very important is that the exchange stated that the KYC images appeared to be from the ‘’same data set’’ which was reported in the cryptocurrency ecosystem earlier this year. The data was reportedly coming from top exchanges such as Binance and Kraken. The Kraken CEO at that time noted that the images lacked the internal watermarks as we read in some of the best cryptocurrency news sites reports:
“This could easily be a ton of phished iCloud/GSuite accounts where people were auto syncing photos from their phones. There are just way too many possible sources of these images if you are looking back eight years.”
Bitmain’s Hashrate To Increase By 50% With 600,000 New Mining Chips
BitPay Under Fire After Rejecting BTC Donation For The Amazon Rainforest
“…We tried to increase the volume but can’t do it through the dashboard and were told we needed to email compliance.’’The debacle brought BitPay under fire due to the massive criticism which frequently engulfs the exchange. The prolonged bureaucracy compounded by another scandal including transaction fees which have led to frequent calls for business to open the source alternative payment processor and the logic as explained on Twitter pointed out in the comments on Amazon Watch’s difficulties is because Bitcoin is a free and open payment system and there are third parties that verify the transactions arbitrarily in order for the cryptocurrency to serve its purpose:
“…You don’t need (BitPay) to reject your transactions when you can verify them yourselves for free.’’As noted in the latest cryptocurrency news, BitPay’s difficulties have had a long history since 2017 even when the executives opted to support the controversial SeGwit2x bitcoins scaling proposal which eventually led for the crypto wallet Trezor to ditch the company. Amazon watch even stated that it would look into using BTCPay an alternative open-source option which could copy that similar one of the travel agent CheapAir from 2018. The backlash over the previous actions of the exchange led to many customers closing their accounts and invoices.
Coinbase Allows Its Customers To Access Dapps On Desktop Browsers
Kraken Pro Trader Believes Crypto Trading Is The New Wall Street
"Wall Street ain't what it used to be. The first 15 years I was on Wall Street, it was fun. I was very fortunate, I started in the CDS market which feels a lot like crypto. Here you have a lot of financial innovation, a lot of trading...It feels very much like that, there's a lot of energy and enthusiasm about this progress and where it's going."Another example is the Morgan Stanley alum Marcus Swanepoel who told the Financial Times:
"Over the past two years we have seen evidence building that bitcoin is an uncorrelated asset class so it makes sense to add it to portfolios."The trend is growing towards more portfolio managers coming in including what Minier says is mavericks and savvy hedge funds entering the crypto space. The digital currency investment company Greyscale investments also saw its assets under management balloon to $2.5 billion and most of which originated from big investors including hotshot hedge funds. The Kraken Pro trader stated:
"I think it's going to be one of those things in a blink that everybody is going to start chasing it.’’With the upcoming launch of the Bakkt bitcoin futures exchange, more traders could begin to feel the way that Minier does and Kraken has been experiencing an uptick with the institutional demand for crypto but he admitted it was too slow. In the meantime, the rival crypto exchange Coinbase based in San Francisco revealed that hundreds of millions of dollars in institutional capital is coming straight off the sidelines into cryptocurrencies a week as we noted previously in the latest cryptocurrency news. They sure can’t find these types of returns in any other asset class with rock-bottom interest rates and the equities mimicking bond yields. Bitcoin in the meantime has generated high returns of more than 150 percent year to date.
Join us on Facebook
- Bank Of England Governor Says Crypto Could Displace The US Dollar
- Bitcoin Breaks 5-Day Long Trend Reaching $9,800 Support Level
- Bitmain’s Hashrate To Increase By 50% With 600,000 New Mining Chips
- U.S. Government Rules Out BTC As Drug Funding Mechanism
- BitPay Under Fire After Rejecting BTC Donation For The Amazon Rainforest
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Bitcoin News3 days ago
Anthony Pompliano Says G7 Only Needed 10 Years To Discuss Bitcoin
Blockchain News5 days ago
Coinbase Confessed To Have Put Traders’ Funds At Risk
Blockchain News4 days ago
E-Commerce Giant Rakuten Launched Its Own Crypto Exchange
Bitcoin News3 days ago
Bitcoin Gets Blacklisted By US Treasury Due To Money Laundering Suspicions
Blockchain News5 days ago
Telegram Open Network Will Finally Launch On October 31st
Blockchain News3 days ago
World Bank Raised $33.8 Million Via Blockchain Bonds
Bitcoin News1 day ago
Winklevoss Brothers On BTC: ‘Wall Street Has Been Asleep’
Bitcoin News4 days ago
Hong Kong Demonstrations Strengthen Bitcoin’s Safe-Haven Status