Binance has also gone to great lengths to disguise its Chinese presence through the use of virtual private networks, software that masks the location of the user in order to gain access to a service. A Binance employee onboarding document instructed newcomers based in China to install VPNs on their devices.
Are Binance employees helping customers in China to subvert KYC?
According to a CNBC investigation, employees and volunteers at Binance have allegedly been aiding customers in China to subvert the exchange’s Know Your Customer Controls (KYC). The report points to Binance’s official Chinese-language chat rooms, in which more than 220,000 users were registered.
Why did Binance stop trading in China?
After China declared all crypto-related transactions illegal in 2021, Binance said it would stop trading for China-based customers. However, Binance used different websites and domain names to redirect China-based users to its global exchange, according to a report from The Wall Street Journal
