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.

AccessTimeIconMar 24, 2023 at 2:35 a.m. UTC
Updated Mar 24, 2023 at 6:22 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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.

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.”


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Greg Ahlstrand

Greg Ahlstrand was previously CoinDesk's Asia News Editor. Greg has no significant crypto holdings.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.