Topic: [ANN] Bitdepositary the Decentralized Government Involved Payment Solution - page 2. (Read 31084 times)

We from KYC.Crypto did it, we developed the decentralized KYC for your decentralized Exchange! Use our LOGIN.Crypto Button and be ready for the Future.

Read more: https://kyc-crypto.com

Breaking News:
KYC.Crypto to join TRON! The decentralized KYC.Crypto dApp is joining the Tron ecosystem.
Stay tuned for more news in the upcoming weeks.https://kyc-crypto.com

Data Leak from Digitex Reveals the Pitfalls of Exchange-Based KYC


KYC norms and its processes aren’t merely a hot topic, but are also lending many platforms in hot soup. The latest victim of data breach and theft is no other than the much celebrated platform for bitcoin futures, Digitex.

The Seychelles based derivative exchange has removed all KYC related services from its system after a major hack data leak that took place in March 2020. The event has been officially described as an insider job and a data leak by a disgruntled employee. At stake are 8,000 users, whose government IDs and personal information is said to have been shared.

The KYC leak was done by someone with the identity ‘Digileaker’, who claims to possess the entire KYC documentation of the exchange, from day one. The identity claimed to have used the exchange login to get unrestricted information to all users, such as their phone numbers, addresses, IP addresses, etc., obtained from passports and driver’s licenses.

Digitex was founded by Adam Todd, described as a no nonsense man, to offer Bitcoin futures at zero cost or fees. It shot into limelight after raising $5.2 million in mere 17 minutes. After the hack, the exchange reacted by completely removing all KYC elements from its website.

For Digitex, the only way to ensure there was no further breach was to remove KYC itself, even if it had any utility. For Todd, KYC is just a way for governments to keep tabs on traders and crypto users and figure out who owns how much or where the money is spent. The exchange had however adopted KYC earlier to restrict money laundering and US citizens from participating.

A couple of other exchanges have suffered some hacks in the recent past. In February, OKex and Bitfinex had a denial of service attack, and Coinhako suffered a sophisticated attack and had to reimburse customers.

A recent report from P.A. ID Strategies reveals that the majority of exchanges do not have sufficient background checks. While the security of personal data kept with exchanges remains uncertain, new KYC norms have been put into place with new regulation like the one announced by FATF. Among exchanges, the crypto-to-crypto exchanges aren’t very keen to track transactions.

In this scenario, focus is now on the decentralized KYC services, such as KYC.Crypto. The global service offered here requires KYC to be done only once. After that, the same profile can be shared with any participating exchange or platform at the click of a button. A single, universal KYC can save huge efforts and money spent complying with KYC norms today, and also keep all data very secure.

The burden of doing KYC can be alleviated with decentralized and globally available KYC. Online crypto platforms can also heave a sigh of relief as they do no longer have to store and ensure the safety of user data.

https://kyc-crypto.com/resources-details?v=91

Is the Latin American Crypto Market Paying the Price for Lax Security and KYC/AML Norms?

Latin American economies are in turmoil, and among the saving measures, have adopted cryptocurrencies to tide over their challenges. Venezuela, the country that made news for its inflated currency, even rolled out the first sovereign crypto coin, the Petros (PTR). The Latin American region counts the largest number of users of cryptocurrencies in the world. All of this sounds good for crypto, but all is not well.

Latin America is “a ripe environment for financially motivated hackers, persistent fraudsters, and even drug cartels working with cybercriminals,” says a recent report, ‘The Dark Side of Latin America’ published by the IntSights, a threat intelligence firm.
Five among the top ten crypto friendly countries are from Latin America: Brazil, Colombia, Argentina, Mexico and Chile. There are several reasons for this popularity, a big one being remittances. The migrant workers send back money easily using cryptocurrency platforms. Another factor is that only about half of the population is banked.

With cryptocurrencies widely used, the money laundering market is also huge. Lax regulation means criminal enterprises, cartels, hackers and money laundering enterprises are blooming, and crypto is just the right medium. The crypto platforms do not have strict KYC and AML norms, nor are there regulations to govern them.
For instance, P2P exchanges are quite popular for money laundering. The report names LocalBitcoins where AML measures are weak, with the exchange suspending user accounts for security reasons. The recent scam involving Crypto Capital is also a warning signal, as it was able to deceive Bitfinex, a reputed and large bitcoin exchange.

It’s no wonder that illicit crypto funds from around the world, estimated as much as 97 percent, get diverted to Latin American crypto exchanges. The report cites the case of a big money laundering scam worth $ 350 million involving Panama based Crypto Capital, which was in the payment business. The funds were reportedly tied to Colombian drug cartels.

In brief, weak and unenforced KYC/AML norms in Latin America have attracted criminal and threat based organizations to operate carefree using local crypto and P2P exchanges. A region that could have been a leading use case for adoption of cryptocurrencies now stands tarnished, becoming the exact opposite case for why not to adopt cryptocurrencies.

One way out for Latin America is to involve the government for regulation and monitoring. For instance, Brazil has passed a rule to require citizens to report their cryptocurrency transactions.

The role of standardized and impeccable KYC/AML processes can’t be exaggerated. There are today third party KYC services with standard norms and compliance procedures that can identify and validate crypto users, and share the KYC profiles with governments and online partners.


https://kyc-crypto.com/resources-details?v=121

We are pleased to announce a partnership between The Family Office Mahrberg from Lichtenstein and KYC.Crypto !

“Let's upgrade the crypto space together!”

Mahrberg - https://mahrberg.com/

Today we like to introduce our future Products, which are all connected with the KYC DeFi!

To give Mima more usage, Mima is needed for every product!

We updated our Roadmap on !

Hi,

yes it will be very far from the ICO price because the people purchased in the ICO tokens with an price freezer which is "the rea"l ICO Price.

The upcoming days are coming when its finished :-) the team is working on it to implement it with our own interface.

Swap rate will be decided based on the market and the order book on mercatox.

If there should be a grow, than its needs to be done with products and professional market marking.

Cheers

Hi,

no but we closed the dex and integrate it into the dApp to regulat the Dex :-). To provide the people a dex without AML and KYC its meanwhile not more accepted on the market if you like to do a regulated business.

It seems corona virus have big impact for bitdepositary and moonberg projects. The launch of bdtdex.io and partnership with czech mining project have been delayed
as investors and part of the community, you can't do anything until the situation back to normal, maybe patience is the key .

Hi , when this "upcoming days" comes? And what you like swap rate ? I think that it will be very far from the price of ICO?

Hi, yes that's correct the liquidity is so far very small. We implement in the upcoming days the uniswap pool and swap into our website to increase the liquidity. (We just improve the UI right now)

The first additional exchange listings take place very soon after our mainnet launch from the kyc defi.

With the launch on the mainnet we will get also our first use case from mima with the integration from our partners (exchanges and payment providers) into our kyc defi.

In the upcoming days we will also present our future use cases on which we are working already like:

1. Signit.digital
2. Login with KYC.Crypto Button
3. The Defi Stablecoin and Payment integration

Thanks

Best regards

Tobias

oh, it's good news. But we have a little liquidity on Mercatox, when other exchanges?

The rebrand on Etherscan was successful to KYC.Crypto

https://etherscan.io/token/0x61D71973A6FfD07d5F1095AED53b06E5673E64BC

How to use the KYC.Crypto DeFi for Partners & Users

Link: https://docdro.id/4WjvKkU

BDT swapped to Mima

Dear Users,
Bitdepositary (BDT) became Mima (MIMA) Token.

Mima (#MIMA) Token contract address is
https://etherscan.io/token/0x61d71973a6ffd07d5f1095aed53b06e5673e64bc

Please pay your attention and send only that Mima (MIMA) tokens to your deposit address.
Also, please be informed that BDT has changed ticker to MIMA.

Good luck in the forthcoming trades.

https://mercatox.com/exchange/MIMA/ETH
https://mercatox.com/exchange/MIMA/BTC

KYC.Crypto Team

Mercatox Listing Update Message:

Hello,

We have reviewed the information provided. We can perform the swap sometime during the current work week.

Please let us know if it works for you.

Our Answer:
We agreed!

Cheers 👍👍

One decentralized KYC for all Exchanges and KYC related Services

KYC.Crypto Presentation

https://docdro.id/ibWX6nN

Hello Crypto Community,

BDT is now KYC.Crypto! To increase market acceptance and evolve further, BDT has been rebranded to KYC.Crypto. We have a new website address (www.kyc-crypto.com) and a logo. The new platform will allow crypto community to operate on several exchanges or KYC services with just one decentralized KYC.

Updated Links:

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https://www.instagram.com/KYC.Crypto/

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https://twitter.com/KYCCrypto

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https://medium.com/@kyc.crypto

Support Email:
[email protected]