Official Bitcoin Thread

[tkthafm]

BTC on fire, working perfectly as a hedge. I am now in the "prophecy" camp of 16k by October.

More and more institutions taking it seriously as equities collapse.

 

[Deleted member 224707]

Has Binance Been Hacked? Crypto Exchange Probing Alleged Leak of User Data

August 07, 2019

One of the world's biggest cryptocurrency exchanges says it has launched an investigation after an "unidentified individual" threatened to leak a trove of its customer data.

Binance, which ranks as the top exchange by volume traded, said in a company statement today that the individual had demanded 300 bitcoin—the equivalent of more than $3 million—to halt the release of 10,000 photos showing "know your customer" data from the organization.

KYC, which stands for Know Your Customer, are images obtained by the exchange to verify the identities of its users. Such data can include ID cards, driving licenses and face scans.

The cryptocurrency exchange has said the files appear to be linked to a previously-known batch of images that were first disclosed in January last year. At the time, a vast array of KYC data was listed for sale on the dark web, potentially taken during a breach of a third-party vendor. In this instance, Bianace says a probe is underway but the files lack a digital watermark its uses.

"We would like to inform you that an unidentified individual has threatened and harassed us, demanding 300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data," the firm said in a release today informing the community of the situation.

"We are still investigating this case for legitimacy and relevancy. After refusing to cooperate and continuing with this extortion, this individual has begun distributing the data to the public."

Based on screenshots and videos that emerged on social media, it appears that stolen images are being spread in part via Telegram, a chat application that offers encrypted communications. The exact source of the KYC images, old or not, remains unclear at the time of writing.

One hacker claiming to be responsible for the leak told CoinDesk, a news website, that tens of thousands of KYC files may be released. The outlet reported that it had verified Binance user ID images, dated from 2018. The stolen data is "directly related" to a major Binance hack last year, CoinDesk reported. At the time, Newsweek noted how 7,000 bitcoin had been plundered.

In today's statement, Bianance attempted to distance itself from blame.

"There are inconsistencies when comparing this data to the data in our system," Binance said. "No evidence has been supplied that indicates KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system. Our security team is hard at work pursuing all possible leads in an attempt to identify the source of these images."

Yahoo Finance UK reported the Telegram group that was seemingly created to share the images after the failed blackmail attempt currently has more than 10,000 members.

On Twitter today, some accounts are sharing links which purport to offer a way to check if Binance customers have been impacted, which could potentially result in more data theft or compromise, according to industry commenters. "By joining or spreading the link of the telegram group you are helping malicious hackers, at least giving attention" noted Binance CEO Changpeng Zhao.

In its statement, the Malta-headquartered cryptocurrency company said it would now be offering a reward of up to 25 bitcoin—currently the equivalent of about $290,000—for information that helps to identify the person attempting to extort the organization, which has its origins in China.

"The hacker also claims he has KYC information from multiple exchanges," Binance said on its website, noting that it will release more information as the probe progresses.

"When asked to prove the source of the data, the individual demanded 300 BTC and refused to supply irrefutable evidence of their findings," the release added. "Later, they went to the press under false pretenses, posing as a white hat with good intentions. The relevant law enforcement agencies have been contacted and we will be working closely with them to pursue this person."

Changpeng Zhao today moved quickly to calm customer nerves as complaints surfaced across social media and speculation of a major data breach grew. "Old news, different spin," the CEO stated, appearing to dismiss any suggestion of a fresh data leak.

 

[tay1]

I never have completely trusted binance

 

[johnnyredstorm]

Welp

 

[aychd]

edit disregard.

 

[tkthafm]

Pretty quiet here lately, still extremely bullish on BTC with equity markets on verge of collapse and global bond yields racing to zero/negative. 17 trillion in negative yielding debt worldwide and QE probably about to be restarted very soon, not much place to put money, BTC should see significant inflows.

 

[sharpshooter718]

Bitcoin and such is a 5 year hold for me .. going on year 2 in November.....

I'm confident we will have a major bull run within the next 3 years .. not worried about daily price action unless it's a trend reversal.

 

[sharpshooter718]

Ya’ll better peep game.

Bout to study this song....

 

[coolcool]

was able to unload the amount i bought around 12k. ready to get back in on this dip!

 

[johnnyredstorm]

180 ether seems inevitable. Could hit 150-160 if things get ugly. Tempted to start into ripple if it hits the low .20s

 

[ksteezy]

Once LTC hits that 30’s Mark, boyyy

 

[johnnyredstorm]

Bruh we go back to $30 in ltc market is fried. You gonna have the conviction to load up during that blood bath?

 

[sharpshooter718]

It's getting ugly. But I like it ugly.... Gives me more time to load up.

 

[fapmasterjr]

I don't want to say get in now...but I'd get in now...

 

[buc em]

I don't want to say get in now...but I'd get in now...

You’re definitely super knowledgeable about BTC so could you explain this for me as far as why BTC would see a major jump from this? From what I’m reading through other tweets it seems this company has postponed this several times in the past. Was supposed to happen back in January.

 

[johnnyredstorm]

More people from Wall Street able to participate through a more “legitimate” means

 

[fapmasterjr]

Bakkt will settle bitcoin 1:1, meaning that they actually OWN physical bitcoin. They are regulated with CFTC and NY Stock exchange so investors/clients would have to put a % in a speculative market/asset...especially one that has outperformed sp500 last 5yrs. It would be irresponsible to NOT...if u say ur an investor, u invest...unless ur a poser or ur emo and “dont like crypto waah”

the exchange will also introduce its own custodian solution called Bakkt Warehouse, which adheres to the highest standards of oversight.’ This will provide institutional investors with top-notch security. Google “ICE” Intercontinental Exchange to really see what is going on, and how BIG this is.

 

[coolcool]

Safe to buy? Breaking out ofnthe low 10k range

 

[oidreez]

Safe to buy? Breaking out ofnthe low 10k range

You should have been buying in when it was dropping not when it's going up

 

[johnnyredstorm]

Yup. Always add a little on the dips. I didn’t this time because I put my money into my options account but you had some good prices here.

 

[sharpshooter718]

You’re definitely super knowledgeable about BTC so could you explain this for me as far as why BTC would see a major jump from this? From what I’m reading through other tweets it seems this company has postponed this several times in the past. Was supposed to happen back in January.

Physically settled contracts

cFTc has approved ..

No more delays...

This is it

 

[sharpshooter718]

eTC keeping my portfolio a float today.

3 things to remember

1.craig wright is a fraud
2.bitcoin is permissionless and decentralized
3. Digital currency is the future.. .


Now that we have that out the way. Nothing will stop Bitcoin reaching 100k within 2 years .. and 1million within 10 years.

The amount of Fiat that will be absorbed into the digital system will be the biggest transfer of value in human history. We are only at 200b market cap... Lolololol


The next recession will usher in the rise of the digital barons....

The next Rockefeller /Carnegie type....

Get your btc while it's still cheap...

 

[dblplay1212]

Now that we have that out the way. Nothing will stop Bitcoin reaching 100k within 2 years .. and 1million within 10 years.

 

[johnnyredstorm]

Million dollar bitcoin lol

 

[johnnyredstorm]

Get ready boys. Series of lower highs were breaking trend and heading much lower unless something random happens. 9200, 8800 and 8000 are you next levels of support.

Don’t use all of your money on the way down. Save half for a trend rebuild to add back on the way up. Unless you’re dca’ing and you don’t care about price.