Crypto giant Binance built ties to a Russian FSB-linked agency

reuters.com

52 points·prostoalex··8 comments

The fact that they silently shared names of people who donated to Navalny (opposition leader) is outrageous.

That's why decentralization (away from exchanges) and untraceability is so important. I changed some of my (relatively small amount) of crypto into Monero in a local wallet and donated it to the a variety of organizations, including Russian independent media. Monero has low transaction fees. It is also only (efficiently) mineable with CPUs which helps avoid centralization into entities with massive ASIC or GPU clusters.

> which helps avoid centralization into entities with massive ASIC or GPU clusters.

What about centralization into entities with massive CPU clusters?

To be fair Binance was never decentralized and never prentended to be.

That doesn't justify the crux of the issue though...

same company a day ago

>Binance crypto exchange forced to scrap swastika-like emoji

https://www.bbc.co.uk/news/technology-61166276

They always seemed to be very shill-y and collaborative with FSB and Putin's government.

Binance were also the first to collaborate with Russian government when FSB successfully lobbied crypto regulations that allowed only Central Bank coin and outlawed everything else. They also promised to share people's data "breaking the law".

I won't be surprised if many crypto spots would turn out honeypots. Willingly collaborating, threatened with murder or taken over by FSB and Putin-linked criminal groups.

Deleting your Binance account is exceptionally hard and I can see why.

Deleting your bank account is exceptionally hard.

Deleting your paypal account is exceptionally hard.

Deleting your brokerage account is exceptionally hard.

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