Home news Binance CEO retaliates to the data breach allegations, calls out media for “irresponsible journalism”

Binance CEO retaliates to the data breach allegations, calls out media for “irresponsible journalism”

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Allegations of KYC data breach flashed all over the internet when CCN first reported having received pictures of the leaked data containing personal credentials of users. Following the suit were other news outlets who reported the same without verifying the source.

Binance CEO, Changpeng Zao, on his tweet, condemned the news portal and called them out for publishing a piece of news without proper verification. He further stated that the original post did not even mention the name of any top cryptocurrency exchanges.

The post originated on the discussion platform – Reddit around six months ago. The post, however, went unnoticed without any upvotes and shares prior to the news portal breaking the news.

Prior to the tweet from the crypto honcho, the global PR manager of the top exchange, Leah Li on a statement said that the pictures released by the news portal have been assessed by a team of experts and had found no such data leak on its platform. Additionally, an independent expert crew also probed into the matter and concluded that the pictures could be from fraudulent sites that pose as a legitimate platform to the users. Also called phishing sites, these platforms steal user’s confidential data masquerading as genuine sites offering the users to open an account with major crypto exchanges like Binance, Bittrex, etc.

According to the report, CCN had received screenshots which appeared legitimate. The three-piece sample was sent by an anonymous user who claimed to be an expert. It had the screenshots of a hacker named ExploitDOT who posted the data on the dark web ‘Dread’ claiming to have KYC credentials held by the top crypto exchanges and attempted to sell off the data at a rate of $10 per 100 document and also provided discounts for bulk.

According to another online news portal – decryptmedia, the hacker in question claimed to have been involved with an online drug market prior to this and allegedly offered to sell a darknet market for an unusually low price of $5000.

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