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Topic: A KYC database sold on the Darkweb ? - page 7. (Read 18806 times)

legendary
Activity: 1666
Merit: 1196
STOP SNITCHIN'
January 20, 2019, 06:57:11 PM
#22
Just one of the many reasons why I don't do KYC verifications. I don't expect people to learn anything from this though because It seem like people don't care about their privacy as long as they don't have to put extra efforts to use the forums or P2P platfroms to trade instead.
I have often expressed this concern with bounty and signature campaign managers who expose the email addresses of their participants too. At a time I had to take it up seriously with one of the top managers here before he then had to hide that column.

Honestly, that's indicative of the original problem: Users need to take more care regarding who they share personal information with. Bounty participants shouldn't be sharing their real personal email addresses with managers, who are just anonymous people on the internet -- and they certainly shouldn't be sharing their KYC documents with them either.

The same goes for dodgy exchanges, and there are an abundance of those. Even if an exchange isn't intent on selling your documents, they may be overly lax about protecting your data. Even if they are extremely careful and take the necessary precautions, your info could still be compromised by a determined attacker. For that reason, it's important to minimize the number of exchanges you KYC with.
hero member
Activity: 3024
Merit: 680
★Bitvest.io★ Play Plinko or Invest!
January 20, 2019, 06:22:04 PM
#21
This!

That's why I really don't proceed if there's more of the requirement with KYC (ID's,selfies,etc). I think someone who's been following and doing bounties that keeps on doing KYC will start to think if his info is on the good hands.
legendary
Activity: 3024
Merit: 2148
January 20, 2019, 06:05:11 PM
#20
Just because someone says that they have a stolen database, doesn't mean that it's true, quite often scammers are selling fake databases, you could probably find thousands of offers like that on darknet markets.

But you are right, because this scenario is possible, KYC should be avoided as much as possible. Exchanges are going to take a huge hit when atomic swaps will become more common.
legendary
Activity: 1792
Merit: 1283
January 20, 2019, 05:49:52 PM
#19
And this is exactly the reason why I refuse to use any exchange that forces me to upload personal identification documents.
I've mentioned this many times in previous posts, but most people just don't seem to care.

In a way I'm kinda glad that this happened, just because now I can actually prove my point the next time this comes up.

I only buy Bitcoin through a Dutch exchange that works with IBAN (Bitonic), they only do SMS verification and your account is verified by purchasing Bitcoin via IBAN transfer.
I have a burner sim card, so that isn't a problem for me. I also don't mind using IBAN, since the transfers are secure.

To all people who just send their passports and pictures to exchanges without thinking about it:
Have fun dealing with identity theft in the future!
hero member
Activity: 2170
Merit: 528
January 20, 2019, 05:33:55 PM
#18
User data should be treated with utmost importance and should be highly improbable to give away in such manner,i blame most of this exchanges and projects which treat such information with laxity and pay less attention to user identity and anonymity.
Most times I begin to feel this entire KYC process could be of more harm than good to the entire community

Everything can be stolen. The best way to prevent data leaks is to use user data for verification and destroy it right after. This means that you will hold the user's name and email, but the rest like ID scans, photos, addresses and other information will never be stolen.

I'd prefer if there was no KYC at all. When you're buying food in a store nobody wants your name but to exchange some cryptocurrencies you need to show your ID. It's stupid!
member
Activity: 686
Merit: 15
January 20, 2019, 04:19:39 PM
#17
Every duck and harry project keeps requesting for KYC for exchanges and Airdrop/bounty. Funny some of these projects do turn scam. Maybe they were out for the KYC from the inception. I just hope people can still work freely and not to be held for a crime they didn't commit.
jr. member
Activity: 240
Merit: 2
January 20, 2019, 04:30:49 PM
#17
Wow. This is why I am always skeptical when performing this KYC thing. Imagine the number of identity theft and fraud that might be performed using unsuspecting victims data.. Please what can be done to curb this menace?
hero member
Activity: 658
Merit: 851
January 20, 2019, 04:02:58 PM
#16
this really scary but i can tell there no credential with the vendor .. its also a other way to scam other who wanted  people information .. when i contact them for credit card information .. they will take your money and give you fake info ...  if they have binanace info they will rather login people account to steal their asset rather than selling information to people ...  so i will call this scam !!!  

It's a possibility yes.
There is no confirmation that this database actually exists. Some exchanges like Binance or Poloniex are mentioned so if this is all true, we have much bigger concerns here, like losing our funds.
legendary
Activity: 2058
Merit: 1270
Play Poker on Telegram
January 20, 2019, 03:57:28 PM
#15
User data should be treated with utmost importance and should be highly improbable to give away in such manner,i blame most of this exchanges and projects which treat such information with laxity and pay less attention to user identity and anonymity.
Most times I begin to feel this entire KYC process could be of more harm than good to the entire community
legendary
Activity: 2716
Merit: 1225
Once a man, twice a child!
January 20, 2019, 03:53:18 PM
#14
Just one of the many reasons why I don't do KYC verifications. I don't expect people to learn anything from this though because It seem like people don't care about their privacy as long as they don't have to put extra efforts to use the forums or P2P platfroms to trade instead.
I have often expressed this concern with bounty and signature campaign managers who expose the email addresses of their participants too. At a time I had to take it up seriously with one of the top managers here before he then had to hide that column. Sometimes, we are helpless in a situation like that. Imagine bounty managers even introducing KYC to an ongoing bounty midway into the project. We often see this with bounties managed by inexperienced managers, anyway.
member
Activity: 952
Merit: 41
January 20, 2019, 03:09:11 PM
#13
This is serious and a very big challenge for the security of customers account and identity, those big exchange should be careful and customers who pass through they kyc process should watch out cause they data is now open for sale and any one can get across to you information.
full member
Activity: 784
Merit: 101
The World's 1st Waste to Green Energy DLT Project
January 20, 2019, 03:01:36 PM
#12
This should be a concern for exchange managers. A big mistake, until something like that happened. Do not let it happen again in the future, because it will reduce public trust. Even more so, it can help people rethink to enter the world of crypto
copper member
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
January 20, 2019, 02:56:56 PM
#11
VPN + download Google Auth for PC = No more KYC  Cheesy
I tried as a test 1 year ago and I successfully bypass all KYC verifications, I forgot on which one of exchanges... it was one of the most popular.
What kind of KYC procedure does that service/site have if it only needs google auth and VPN.

That's why KYC is bullsh*t from projects who want to run their ICO. ICO and mostly the scam once required KYC, then sold it to some people who needs personal info since data == money. I only do KYC to services I needed the most and a reputed service especially to convert crypto to fiat, but taking kyc to ICO or bounties or any shady exchange? Thanks but no thanks.

And this reddit user/hacker trying to sell them at very cheap price means that more people will get access of that info and possible, it will be leaked even in google. And after several time, this people who doesn't care their privacy will see their names used to scam someone in the internet because of identity theft.
copper member
Activity: 118
Merit: 0
January 20, 2019, 02:49:43 PM
#10
this really scary but i can tell there no credential with the vendor .. its also a other way to scam other who wanted  people information .. when i contact them for credit card information .. they will take your money and give you fake info ...  if they have binanace info they will rather login people account to steal their asset rather than selling information to people ...  so i will call this scam !!!  
legendary
Activity: 1666
Merit: 1196
STOP SNITCHIN'
January 20, 2019, 02:49:23 PM
#9
Just one of the many reasons why I don't do KYC verifications. I don't expect people to learn anything from this though because It seem like people don't care about their privacy as long as they don't have to put extra efforts to use the forums or P2P platfroms to trade instead.

I'm of a similar mindset. I did do KYC at one exchange -- Coinbase. That's because sometimes I need to buy or liquidate fast, for amounts larger than I'm comfortable with doing P2P, especially considering the fraud risks. I think they're one of the most likely to properly comply with data protection laws. I definitely wouldn't multiply my identity theft risk by doing KYC anywhere else, though.
copper member
Activity: 210
Merit: 2
www.daxico.com
January 20, 2019, 02:46:30 PM
#8
This is another big challenge in the crypto space that need urgent attention. If nothing is this will scared many newbie and institutional investors away from the crypto industry. Many of the kyc that is been use now are from fail ico project.after returning funds to ico investors they use the kyc for criminal activities that even pay them more than the ico project since they know many people don't participate in ico any more.regulation of ico will solve this issue
legendary
Activity: 2380
Merit: 1343
January 20, 2019, 02:44:45 PM
#7
This is a lesson for us all.
As soon as we part with our personal information on the web we are
trusting lthers to put sufficient security measures in place to mind it
for us. If those security measures are not good enough there is nothing
we can do, its too late.
member
Activity: 560
Merit: 14
January 20, 2019, 02:00:53 PM
#6
I have always had my skepticism on the security of one's personal data information when undergoing know your customer the internet is no longer safe and hackers are on the move if there can be another means of proving identity it would really save this menace
copper member
Activity: 68
Merit: 2
January 20, 2019, 01:57:12 PM
#5
That's the weakness of KYC and we had a taste of it when facebook got hacked and another one when this forum's database got stolen. I miss the times when we could trade freely without having to deal with KYC on sites like bittrex and poloniex, but things change. Unfortunately, in most cases they change for the worse.
I used to be and still am against KYC and government agencies trying to oversee crypto trading, but reading the posts of some forum members here makes me thing that I'm in the minority.  

VPN + download Google Auth for PC = No more KYC  Cheesy
I tried as a test 1 year ago and I successfully bypass all KYC verifications, I forgot on which one of exchanges... it was one of the most popular.
staff
Activity: 3500
Merit: 6152
January 20, 2019, 01:16:50 PM
#4
Just one of the many reasons why I don't do KYC verifications. I don't expect people to learn anything from this though because It seem like people don't care about their privacy as long as they don't have to put extra efforts to use the forums or P2P platfroms to trade instead.
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