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Binance Users in China, Elsewhere, Evade KYC Controls With Help of 'Angels': CNBC
Some Binance employees and volunteers shared tips on forging bank documents, falsifying addresses or hiding the country of origin to secure a Binance debit card, CNBC reported, citing Binance-controlled Chinese-language chatrooms, whose messages it translated.
Some Binance employees and trained "volunteers" are helping users in China and other countries evade Binance's Know Your Customer (KYC) controls, CNBC reported Wednesday, citing Chinese-language messages from a Binance-controlled Discord server and Telegram group.
The message group participants, called "Angels," share techniques such as forging bank documents, falsifying addresses and hiding the country of origin to allow users to bypass controls and obtain a Binance debit card, according to the report.
STORY CONTINUES BELOW
China banned crypto exchanges in 2017, and cryptocurrencies altogether in 2021.
A Binance spokesperson told CNBC, "Binance employees are explicitly forbidden from suggesting or supporting users in circumventing their local laws and regulatory policies, and would be immediately dismissed or audited if found to have violated those policies.”
Read more: Binance Can’t Keep Its Story Straight on Misplaced $1.8B USDC
Greg Ahlstrand
Originally from California, I've been Asia-based since 1999, headquartered in Hong Kong and Jakarta and traveling throughout the Asean countries, Japan, Korea, the Chinese mainland and Taiwan for stories. Made Australia a couple of times, too.
I started my journalism career as a news assistant at the Fresno Bee in Central California while studying the subject in school after the Navy. I went from launching and recovering helicopters on flight decks at sea to recovering papers fresh off the printer in the Bee's basement and launching them onto the editors' desks, whose editors had long since gone home for the night. Eventually, they let me stop delivering the paper and start writing stuff in it. My first beat was night cops: liquor store robberies, gang shootings, fatal car crashes (almost always alcohol related). It was an education.
I am, as implied above, a U.S. Navy veteran. I served in seagoing helicopter squadrons as an aviation anti-submarine warfare technician throughout the Asia Pacific region and the Indian Ocean. I have a significant number of sailor stories to tell. I have no significant crypto holdings.
Among my hobbies are welding, building stuff, home remodelling, (or knocking a house down and starting from scratch if it's too far gone to fix), riding horses and rebuilding old tractors. So far I've done a Ford 8N and a Ford 9N. It's slow going, because I live in Hong Kong and the tractors are in California, so I only get to work on them once or twice a year, for a week or two at a time - and that was before covid.
I love my Lab, Cooper, whom my neighbors asked me to adopt two years ago when they moved back to Shanghai from Hong Kong. Cooper and I actually planned the whole thing -- we've known each other almost his whole life -- but his first parents are unaware of the conspiracy; and they send him Christmas presents every year.
