Inside the Story: The Tried Binance Extortion Spelled out

Like most CoinDesk tales, our interaction with an insider boasting to have accessibility to the Binance hackers commenced with an e-mail.

“Hi John Biggs,” wrote a person contacting himself John Amate (later on Platon.) “I have browse your short article concerning about Binance hacking and it appears to be to me that you do not have considerably data about it. I am ready to enable you. [I can supply:] Where did hackers launder their income. How many customers’ privateness data are stolen (together with their passport and id card), etc.”

That solitary message sent us down a rabbit gap of analysis, back again-and-forth, and disappointment as we tried to realize what experienced transpired and how considerably person data leaked from Binance’s KYC method – and how these leaks have been connected to hackers who stole over 7,000 bitcoin from the trade.

We spoke to the hacker and Binance for a month, digging into this tale as gradually and thoroughly as achievable. The consequence? It turned distinct that the hacker’s promises have been considerably much more elaborate – and considerably much more problematic – than we expected.

In this video we pull back again and speak about the way we documented the tale, what we think was truly taking place, and the care we took to make certain we obtained the full tale devoid of placing non-public data at hazard.

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