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Binance KYC Leak: All We Need to Know

On August 7, yet another crypto-related scandal took place, again, affecting the world’s largest cryptocurrency exchange; Binance. A series of Telegram groups founded by a single source claimed to possess more than 10,000 personal photos of KYC data owned by Binance. While the claims have since been refuted by Changpeng Zhao, the Binance CEO, the group remains adamant that should Binance fail to offer them 300 Bitcoins, they will go ahead and release all the data in their possession. In the current market, 300 BTC amounts to over $3.5 million cash in dollars, which the company is not willing to negotiate up to this point.