Crypto is banned in China, but Binance employees and support volunteers tell people how to bypass the ban

The techniques have evolved to sidestep Binance’s highly publicized know-your-customer controls, and focus on obscuring a user’s country of origin.

Highlights

Binance is the world’s biggest cryptocurrency exchange, handling $490 billion of spot trading volumes in March 2022.
Binance founder Changpeng “CZ” Zhao has touted the exchange’s know-your-customer systems, known as KYC, as a billion-dollar effort.
But customers in China and around the world regularly subvert Binance’s controls to hide their country of residence or origin, messages in official Chinese-language chatrooms show.
Some techniques involve forging bank documents or offering false addresses, others involve simple manipulation of the systems.
The techniques also call into question the effectiveness of Bance’s anti-money-laundering efforts.

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