March 25, 2023
๐ Some Binance employees help the Chinese bypass KYCย ย
It is reported by CNBC with reference to messages in Discord and Telegram in Chinese.
๐ก As you know, crypto exchanges are forbidden to operate in China, however, Binance clients regularly bypass the control of the exchange, hiding information about citizenship or country of residence. According to CNBC, Binance-trained staff and volunteers share methods to bypass KYC systems.
Some schemes involve forging bank documents or providing false addresses.
๐ฌ Binance responded that it has already taken action against employees who may have violated internal policies and made recommendations that did not meet the exchange's standards.