Coinbase -leck calls Kyc criticism from Krypto -Xecs

Crypto Execs on X demand that KYC protocols (knowledge) of knowledge of knowledge of knowledge (key-captomer (-sur-copomer)) are asked to scrap brilliant funds after the management of the US exchange coin and the users' personal data have been leaked.

The Leck divided by Coinbase on Thursday showed in a K-8 registration, as the employees of the foreign support employee were falsified by bad actors to steal information, including home addresses, government IDs and bank account details.

This data was then made available to individuals to use in social engineering fraud to steal user funds. 180 million US dollars and 400 million US dollars in reimbursements.

In order to expand the problems of Coinbase, the Securities and Exchange Commission reports reportedly whether the company has exaggerated its number of users.

In response to the leak, the CEO of the Crypto Analytics company Nansen, Alex Svanevik, Donald Trump, asked “the KYC and the anti-money selection (AML)” complex “.

Read more: Coinbase says that the employees of employees refuse to pay customer data to pay 20 million US dollar ransoms

Kyc reviews include the identity of a user's identity via various documentation pieces. This can include state IDs, passports and pension calculations.

Svanevik, however, says: “All [KYC] To is at risk of personal data for normal people – at an immense cost. “He also claims that” practically no real criminals are caught “.

Coinbase Leak puts Kyc into the spotlight

Svanevik is one of a number of top-class crypto supporters who criticize KYC measures. In fact, the CEO of Wintermute, Evgeny Gaevoy, said that Coinbase did not reveal the leak earlier, “the dark side of the idiot and nonsensical Kyc/Aml regimes in which we live.”

Bitcoin Wallet company Nunchuk_io now replied by describing Kyc as a catastrophe that “can pass”.

Nick Neuman, the CEO of the Wallet company Casa, said: “So we do not collect Kyc by default.” He added, “It is another attack vector that people can use against them. “”

In the past, Crypto Sluth ZachxBT has also criticized the Kyc protection and emphasized how criminals are able to buy accounts with verified KYC registration information in order to bypass checks.

In 2023, Europol closed a criminal market that sold the KYC references of over 2 million people.

However, some believe that Kyc, like Gaevoy, can still exist in the form of zero knowledge proofs, a crypto-based technology that can be used to check the information without revealing the actual attached information.

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