CZ Denies Rumor but Will It Impact BNB?
Ever since its foundation in 2017, Binance has been a big name in the world of crypto exchanges. It is currently the #1 exchange by adjusted volume. Their native exchange token, Binance Coin is #6 on the list of cryptocurrencies by market cap, much higher up than any other exchange token. Binance has slowly earned a reputation of a credible, fair and popular exchange. However, this attention and popularity does have a downside. Binance has been targeted by hackers in the past.
A Blow to Binance or Just FUD?
Unsubstantiated rumors have started making the rounds on Twitter, Reddit and other popular cryptocurrency boards. These rumors claim that Binance's KYC database has been leaked and hundreds of images have been posted. These images seem to confirm the circulating rumors although not all may be what it seems. These rumors might be related to an old false report from the 24th of January.
Most of the Twitter posts contain a link to a Telegram group called "FIND YOUR BINANCE KYC". This group has been growing rapidly and now has roughly 10,000 members as per now. Over 880 pictures of apparent Binance KYC documents have been posted. As always, CZ was quick to respond on Twitter. He claimed that Binance was actively investigating the issue and as per now its just "FUD". Later he retweeted a warning not to join the Telegram group, claiming someone is up to no good.
While it is unknown currently whether the documents leaked are genuine or not, one might want to heed CZ's warning. If it is indeed an elaborate fake, then someone may be taking note of Binance's clients and created the group to list crypto traders. This information could be resold for spam purposes, phishing or hack attempts in the future.
Effects on Binance Coin
So far, news of the rumor had no substantial affect on Binance Coin's value. BNB lost 1.99% in its USD evaluation in the past 24 hours but has gained 2.95% in its BTC evaluation. It is possible that should the rumor be confirmed, BNB might slightly devaluate although a major dip does not seem to be in the cards.
Regardless of whether the rumor is correct or not, Binance will likely remain the default choice for many traders across the globe.
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Written by Jonathan Ganor
Writer & cryptocurrency aficionado