Billions Network warns of identity data risks

• Billions Network CEO Evin McMullen has warned that leaked identity data can create lasting risks for crypto users.
• His argument follows a US$320 million exploit and separate leaks involving customer addresses and government ID numbers.
• McMullen has called for privacy tools that verify users without storing unnecessary personal data.

A blockchain used to move Bitcoin (CRYPTO:BTC) between exchanges has lost about US$320 million in an exploit.

McMullen has argued that stolen crypto can sometimes be traced because blockchain transactions remain public.

“Verifying a fact about someone and collecting their identity are different operations, and we have known how to separate them for years,” McMullen wrote.

He has highlighted a Trezor leak that exposed names, phone numbers and home addresses of 67,000 customers.

A separate leak has also exposed about 200,000 records containing government ID numbers and verified wallet addresses.

McMullen has argued that crypto platforms should verify required information without keeping full identity documents on their servers.

He has warned that AI agents could create billions of new identity honeypots if they carry users’ personal data across every service.

At the time of reporting, Bitcoin price was $76,568.57.