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Hacked KYC data collected from top exchanges for sale on the dark web - Cryptoline News

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"According to reports coming from CCN, a hacker is selling hacked KYC data on the dark web, data which the hacker claims to have collected from some of the cryptocurrency exchanges such as Poloniex, Binance, Bittrex and Bitfinex."

From "Hacked KYC data collected from top exchanges for sale on the dark web - Cryptoline News".

Well, whether this is true or not, it does rather point to the fact that there are better places to store KYC data. Places that have extensive security in place already and spend gazillions on maintaining it, places that are regulated and held to account your identity is stolen and places where the costs of collecting KYC are high and rising. We call these places “banks” and it seems rather obvious to me that cryptocurrency exchanges, mobile phone shops and, for that matter, other banks should be using this bank KYC data instead of trying to do their own expensive and imperfect KYC in parallel.

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