KYC data is an irresistible honeypot for hackers, and we must change how it is collected

Privacy-preserving identity verification systems could allow individuals to prove only what a service needs to know while keeping the underlying information under their control, writes Coin Center’s Laz Pieper.
Key Takeaways
- Privacy-preserving identity verification systems could allow individuals to prove only what a service needs to know while keeping the underlying information under their control, writes Coin Center’s Laz Pieper.
- Read the full article for additional context and details.
- Read the full article for additional context and details.
Summary generated by IndiCrypto from CoinDesk. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Security

Singaporean 22-year old pleads guilty to being the ringleader in $245 million crypto fraud case
Malone Lam, a Miami resident charged with stealing 4,100 bitcoin, led a ring of fraudsters who stole crypto via online scams and home invasions.

$47M Still Missing After Liquid Hack as Blockstream Bargains With 'White Hats'
The hackers have returned 3,400 of the roughly 4,000 BTC drained from the sidechain, but about 600 BTC remains outstanding—and some doubt the actors' "white hat" claims.

Cronos Erased Two Hours of Transactions to Reverse $111 Million DeFi Exploit
The rollback reversed legitimate activity alongside the attack, while $9.19 million remains unrecovered, according to Cronos.