In the aftermath of the BitMEX data leak, a lawyer raised a question of whether it was necessary to conduct Know Your Customer (KYC) verifications as they expose user data to hacking and ID theft. Do KYCs expose user data? Blockchain firm Compound’s general counsel and lawyer Jake Chervinsky raised the question of whether KYC was worth exposing user data to hacking and other illegal activities. In a Twitter, post-Chervinsky asked that although KYC allows regulators to monitor user data Chervinsky, KYCs expose users to criminal activity. At the end of the post, he stated that it was high time
