Binance, a global cryptocurrency exchange that allows more than 100 cryptocurrencies to be traded on the platform reportedly got hacked, and user data of thousands of people got stolen. It was found that this data is being posted on an anonymous group on Telegram.
The stolen data contains data of users from Britain, France, the United States, and other countries, which contains pictures and data of users passports and documents. In return, the hacker is asking for 300 Bitcoins, which value at approximately $3.5 million.
This data was stored on the website under the KYC procedure because the financial regulation requires the companies to let the people know who they are dealing with. Binance has refused to pay 300 Bitcoins to the hacker, and the hacker responded to that by releasing user data on Telegram.
Binance has also offered a reward of 25 Bitcoins(valued around $280,000) to those who give any information on who the hacker is. The person has shared about 400 photos of the data, and they wish to share more if the ransom is not paid.