A new form of cheating teams ICO - page 2.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: beeelzebub on November 12, 2018, 04:03:52 AM

Yeah asking kyc from bounty hunters without early notice is a way of scamming.

Also, worse way is giving out way less tokens than announced before. I saw projects giving out %5 of their initial announcement even they hit the hard cap.

I have experienced these things where in all circumstances it would leave you no choice but to accept such changes on where you would end up to comply
according on your risk management.

Quote from: khoapham89 on November 12, 2018, 08:52:53 AM

We still have to wait for an organizatiion to operate this crypto world.

Its fully contrary on why Cryptocurrency was created.We might need some bodies to handle this thing but it doesn't mean it would be generalized.

Ozero

full member

Activity: 2142

Merit: 183

We really need to admit that an unspecified announcement after the end of the ICO to conduct a KYC audit is a fraud on the part of the ICO team. After the end of the ICO, there is no longer any need for organizing such a KYC check. If it is announced during this period, it is only in order not to pay the earned tokens to those bounty hunters who did not want or could not pass such a test, or they passed it, and they were declared, for example, that they were politically unreliable and therefore earned they will not pay tokens.
It is precisely because refusals to pay when passing KYC checks are sometimes very absurd that such checks should be carried out before joining bounty hunters in an ICO signature campaign, and not after its completion.

Argoo

sr. member

Activity: 2352

Merit: 245

Quote from: inesterdd on November 11, 2018, 11:23:16 AM

Why participate in a project where KYC is required, if you also doubt the legality of the ICO and its team. I always pass by such projects, as my reputation and time are more important! Wink

The fact of the matter is that at first the ICO teams do not write anything about the need to go through the KYC check in the future, even they are silent on direct questions about this, and sometimes they say directly that there will be no KYC check. And after the end of the ICO suddenly declare that you need to undergo such a test. Already after the completion of our work, when we are waiting for payments of tokens, to leave, this means leaving them with earned tokens. This is what the ICO teams rely on. This is a common fraud.

khoapham89

copper member

Activity: 101

Merit: 2

Quote from: Vektrum on November 11, 2018, 06:47:12 AM

I appreciate your analysis. But, there are injustices with bounty hunters, and we are working in the hope that they will succeed and reward us. They are lawmakers, and we are just players. We still have to wait for an organizatiion to operate this crypto world.

CryptoIyke

copper member

Activity: 308

Merit: 1

So many explanations going on here and because of the hunger to earn makes one to fall for them. Personally I have decided to stay off any bounty that will require all those kyc details. Some good bounty managers inform you earlier if a bounty requires bounty or not then one will decide to participate or stay off

beeelzebub

full member

Activity: 602

Merit: 101

Bcnex - The Ultimate Blockchain Trading Platform

Yeah asking kyc from bounty hunters without early notice is a way of scamming.

Also, worse way is giving out way less tokens than announced before. I saw projects giving out %5 of their initial announcement even they hit the hard cap.

Andruha1993

jr. member

Activity: 1008

Merit: 1

I am also embarrassed by the fact that you need to go through KYC. I still understand that they immediately warn about this and the bounty hunters themselves decide to participate in this bounty campaign or not. But when they start to scoff, for example, they ask me to go through KYC after the end of the bounty campaign, it annoys me greatly.

various

sr. member

Activity: 854

Merit: 267

Quote from: izay on November 12, 2018, 02:07:44 AM

Bounty campaigns that required KYC to receive their rewards should be posted and announced for the participants to get aware and decided whether to join or not. Some hunters dont want to do KYC, if it is not stated as it begins the efforts that hunters exerted should turn nothing. Rules must be specified, it can be changed but need some limitations.

I totally agree with you. KYC should be said initially in the rules . For example i never participate in the bounty campaigns which want KYC. Imagine that the ico came out a scam and you gave them all your information. This is a nightmare for me.

izay

member

Activity: 532

Merit: 10

Bounty campaigns that required KYC to receive their rewards should be posted and announced for the participants to get aware and decided whether to join or not. Some hunters dont want to do KYC, if it is not stated as it begins the efforts that hunters exerted should turn nothing. Rules must be specified, it can be changed but need some limitations.

i7claufe

member

Activity: 378

Merit: 42

AhrvoDEEX FUTURE OF BROKERAGE TRANSACTIONS

This may be right for some other things and stuff on the real world. Also this may be right for ICOs & Private sales but for bounty hunters & the bounty program. This is not right, because it's always, almost all the time stated on the bounty rules that the team can change the rules whenever & to whatever they want it to be. They can even disqualify and remove anyone from the bounty program with less to no sturdy proof and that's why bounty hunters are prone to more risks and frauds almost all the time.

missyqt29

member

Activity: 434

Merit: 10

Quote from: Wolfwar on November 11, 2018, 07:04:41 AM

I, too, have a negative attitude towards the demand of KYC for bounty hunters by companies. In the first place, the product itself does not yet exist and it is not clear why verification is needed. And secondly, in this way, projects often recruit a database of documents and sell them. And where then your data is used is not clear.

KYC would be effective if it is applied when the bounty hunters will going to take their token price in the end of the campaign. But if you will take the KYC as a test without a strong and reliable reason, it is not needed. Maybe there's a plan behind it. So, we should be careful.

houjinglong

member

Activity: 335

Merit: 10

This way is stupid, ICO is essentially the market for technology and the practical value of coins. Instead of preventing bounty hunters. Usually such a project will fail. They can't find the key factors for success.

Rustamm

member

Activity: 532

Merit: 18

Bitcoin lover!

Quote from: Westfiled on November 11, 2018, 11:00:00 AM

Quote from: SaRmY on November 11, 2018, 07:07:51 AM

You're wrong. Because almost all projects indicate such an item. The team can change the rules at any time. What does this mean? That the law of law does not help here.

The team has been putting the agreement if the team can change the rules anytime as they want. Remember about the contract is undercontrol by the team and so many times the boun participants are getting scammed by them all. it's the fact and i can't be denied.

The right to change the terms of an agreement of any contract must be clearly stated in the conditions of accession. Moreover, these rules should be specified in what cases and what changes are allowed. Arbitrary changes of conditions at their discretion cannot be in nature, such is not allowed in the practice of contracts. If this is written, it obviously cannot be legally valid, since it contradicts the general principles of international law.
Although the ICO teams try to show that they are trying to comply with the norms of international law, by checking the KYC against bounty hunters they in many cases grossly violate it.

Ayomiqueen

copper member

Activity: 168

Merit: 0

I think this issue will continue and if care is not taking will even get worse than now as there is no legal bidding in the contract that we are signing with any project we are applying for and they can't be sue ,
So for that reason once the team is a fraud oriented type then they will use all sort of method to scam the bounty hunters even the investors because their is no regulation body that really require the kyc of a thing and having the "we can change the rules at their own discretion" means fraud as no contract that is bidding will have such clauses , so I think the best thing is regulation and every ico companies must be sue and can sue as well and also must be a registered company in any country they reside in with a legal document backing it along with their team which can be sue also and if they are stating any rules then it will be bid in the law.

Dilireba

jr. member

Activity: 350

Merit: 1

As individual bounty participant, we can not make any change to this condition. They're cheating us and we can't do anything other than complain. When we join their campaigns, we default accept the bounty rules but most of us don't read it. But although we read, we still join because all of bounty campaigns has same rule such as they have right to disqualify any of us without explanation, reduce bounty rewards, add/change rules. So, at the end of campaign, don't want to pay, using the rule "add/change rules" to require KYC. Smart legal scam

Tylev

full member

Activity: 854

Merit: 104

Quote from: auroboros on November 11, 2018, 11:10:26 AM

I think KYC for bounty hunters puts more emphasis on preventing the use of multiple accounts, even though it doesn't really matter, but at least can reduce these actions, I myself still agree with KYC use as long as the conditions they want are not too complicated, and the rights of every bounty hunter to choose if indeed KYC is very risky towards privacy, then choose bounties that do not use KYC, because even if they use KYC, they do not guarantee their project runs well

Firstly, here we are talking about cases where the ICO teams from the very beginning are silent about the upcoming KYC audit, or even claim that there will be no such test, and announce it only after the end of the ICO. And after a certain time, somewhere in the telegrams and bounty hunters may not even know about making such a decision. In any case, such a test cannot be avoided, because it is not talked about before joining the campaign of generosity, when we really have the right to choose, but face the fact after the end of the ICO.
Secondly, the task of checking KYC is not to prevent multiple accounts, and its direct task is to prevent the laundering of dirty money. Bounty hunters are not investors and therefore are not subject to such verification by KYC. Violating my right to confidential information, even for filtering out several accounts, is not the best option; there are much better and more effective methods for this, even on this forum.

slashz9

full member

Activity: 1554

Merit: 101

really, i dont agree, so you think they hire some people and make cooperation to cheating and make fake project/ico ??

boranes

sr. member

Activity: 644

Merit: 253

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Quote from: SaRmY on November 11, 2018, 07:07:51 AM

You're wrong. Because almost all projects indicate such an item. The team can change the rules at any time. What does this mean? That the law of law does not help here.

Team can't change contract after job is done. There are rules that they can change contract during bounty but that raise legit questions too, lowering rewards in middle of ICO and sending lower rewards to bounty participants can only be applied to rewards after rule was changed but every other reward before rule was changed should be what was arranged in original contract.

bitcoinmar

hero member

Activity: 812

Merit: 500

Quote from: Astermony on November 11, 2018, 10:35:27 AM

Quote from: alian17 on November 11, 2018, 10:12:31 AM

Now I find that bounty hunters are on the weak side. Bounty hunters have no legal rights to protect them. The project team and the bounty manager can unconditionally modify the rules and extend the bounty time. This market needs regulation to ensure that the rights of bounty hunters are protected.

That should be materialized to protect the bounty hunters, it seems that due to a bear market, many Ico are doing this kind strategy to give difficulties to the hunters and backing out.

Not only does it make it difficult for the bounty hunter, and it is very difficult for the project team and investors at the moment. Bounty hunters do not have as many as the number of investors, so their impact is not as great

seo-maestro

member

Activity: 420

Merit: 15

I think bounty campaigns are dead because ICOs are dead - look for statistics about ICOs funds raised here: https://www.coinschedule.com/stats.html
I don't see reasons to join bounty campaigns and invest in ICOs now.

Topic: A new form of cheating teams ICO - page 2. (Read 853 times)