Binance will freeze the accounts of users who have passed verification using someone else’s data

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Cryptocurrency exchange Binance has warned users that it will check and freeze accounts whose owners used other people’s personal data to complete the KYC procedure.

The site representatives emphasized that the use of other people’s data for account verification is unacceptable, and the Binance risk control team will soon launch a large-scale work to identify such accounts.

“We have found that some users have been verified with purchased identification information. Once such accounts are identified, they will be frozen. We advise you not to buy other people’s identities through various channels to avoid losing funds, ”the notice says.

It is not yet known when exactly the checks and freezing of accounts will begin. It is also unclear whether the account owner will be able to verify with real data and regain access to their funds.

Recall that Binance introduced mandatory user identification last year. As the CEO of the site, Changpeng Zhao, later said, the exchange lost about 3% of users who did not want to go through KYC procedures.

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