For privacy-minded crypto users, there may be no three letters more dreaded than “KYC.”
The acronym, shorthand for “know your customer,” refers to the process of providing personally identifiable information, such as your name and address, to certain service providers, namely cryptocurrency exchanges. In many jurisdictions, including the U.S., it’s required by law. And while it may be important, perhaps even crucial, in guarding against illegal activity, KYC comes with risks—both for the companies that collect the data and the individuals who provide it.
Eariler this week, Solana co-founder Raj Gokal and his wife were both doxxed by malicious actors demanding he pay 40 BTC (worth $4.3 million). Gokal says that the photos of his…
May 30 2025
