BNB Dumps and Pumps on KYC Hack

bnb price action august 8 2019

Binance’s stock like token (BNB) began falling somewhat yesterday on rumors the identification documents of thousands of exchange users had been hacked. Binance itself denied it, stating their identification documents are watermarked, that all this is old news anyway, but they were happy to give a reward of 25 BTC, worth a quarter of a million dollars, to whoever could provide information about the alleged hacker. Pictures of individuals posting with their Binance account number and official identification started circulating, with BNB’s price starting to fall a bit from circa $28 to $27 or so. Now it’s risen some 10%. It isn’t quite clear however what exactly happened. Binance implied it could have been hacked from a “third-party vendor for KYC verification” sometime in February last year. Yet Binance did not have KYC in February 2018 as far as we are aware. That’s partly why they got in trouble with…

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