An Extortion Gone Bad: Inside Binance’s Negotiations With Its ‘KYC Hacker’

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In what appears to be an elaborate game of hackers hacking hackers, an individual operating under the pseudonym “Bnatov Platon” has provided CoinDesk with extensive information about their attempts to obtain millions of dollars in exchange for declining to release information about customers of one of the world’s largest cryptocurrency exchanges, Binance.Information about the hack, gathered over a month-long interaction with the hacker, was pushed into the public eye today when Platon began posting what he alleged were images and information about real Binance customers, first on an open website and then on Telegram.The idea customer information might not be safe on the world’s largest exchange was enough to immediately spark the attention of the industry, with major news websites and Twitter influencers swiftly broadcasting the news.Yet, the full story was – and remains – more complicated than it first appeared.First, it has deep roots, extending back to an incident…

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