Topic: Be careful submitting your information(KYC) to random ICOS (Read 300 times)
yes im agree with you, personal database was have a value now and they can sell it, lets say the same case with Facebook, on asian region Facebook was being hijacked and many user database was stolen, so be carefull guys with regist form that you want to filled when regist on any ico.
The problem is that KYC is going to become mandatory and it's not only a pain to have to repeat but also shares personal information.
That's the reason Blockpass is working on a truly self-sovereign identity verification app. The first version is already out and in future versions we will be enabling zero knowledge proofs to allow companies to verify your data without actually having access to it. Then this issue of submitting info to random people will be solved.
Check us out www.blockpass.org
That's the reason Blockpass is working on a truly self-sovereign identity verification app. The first version is already out and in future versions we will be enabling zero knowledge proofs to allow companies to verify your data without actually having access to it. Then this issue of submitting info to random people will be solved.
Check us out www.blockpass.org
Yes. I do agree with you. The outcome of it is unimaginable and most of all, terrible. That's why, as much as possible, do not join in campaigns that require KYC or Know-Your-Customer procedure. I know that, not all of them means harm. But, being cautious won't bring us harm, right? And for those who want to create a coin, please. Just please. Don't use KYC if possible. And I know that it is, since there are lots of successful coins without needing the KYC process.
do you know most of the ICO also require investor submit their KYC, allow them to check the source of funds raised during the token sale and verifying each buyer’s identity and residency, but we only can choose one - KYC or Money, you can't participant their token sale if don't pass KYC, actually ICO required KYC is ok for me because I'll check everything and just invest in promising project
I think all investors already know it because they don't want their documents are sold on dark market because of doing KYC for a scam ICO project 
.
At the moment, as I can see ICO investors often invest in ICO projects which don't require KYC but they still invest in projects require KYC if it's a really good and truthworthy project
. At the moment, as I can see ICO investors often invest in ICO projects which don't require KYC but they still invest in projects require KYC if it's a really good and truthworthy project
It's true, no one is immune from fraud and the use of our personal data for illegal purposes. Now even airdrops ask to pass KYC, but I believe that this is already too much to prove the identity for the sake of several dollars. I ignore such airdrops and if I have doubts about ICO and the honesty of his team, then I do not take part in it.
I take part in many ICOs, and bounties. Recently I have noticed a trend where even tiny unknown coins are requiring purchasers and bounty participants to submit their personal info before they receive or unlock their coins. In some cases they do not even mention this until after buying. This can be very dangerous. I can see in the future, criminals could easily run a fake ICO just for the purpose of collecting the information about bitcoin and crypto users.
What could they do with this information?
Anything can happen: from simple selling user data to various companies...all the way to planning home-invasions on users. Your personal data is not something to just throw around to any shady ICO that asks for it. Especially in the crypto world, we have a lot of users that control huge amounts of wealth, untraceable wealth, and often they keep it stored inside their homes. Think of what could happen if a criminal organization gets a list of 100s of people that store more than $100,000 cash in their house....what do you think the outcome of that would be?
What could they do with this information?
Anything can happen: from simple selling user data to various companies...all the way to planning home-invasions on users. Your personal data is not something to just throw around to any shady ICO that asks for it. Especially in the crypto world, we have a lot of users that control huge amounts of wealth, untraceable wealth, and often they keep it stored inside their homes. Think of what could happen if a criminal organization gets a list of 100s of people that store more than $100,000 cash in their house....what do you think the outcome of that would be?
You don't have to worry since wealthy crypto holders or whales aren't participating in any bounty that only wastes their time. Only those spammers and farmers are really dedicated to participate in bounty campaigns. Doing KYC on every bounty campaign is a good thing on part of the company because there are lots of people right now having gazillion alts to cheat their way in to the bounty which gives negative impact to the project that they are promoting.
It's a serious problem, and it's worrying.
Because most ICO projects do not guarantee the security of our KYC data very well.
Because most ICO projects do not guarantee the security of our KYC data very well.
I participated in several ICOs who asked to go through KYC and asked to send their personal documents, after which it turned out that this project was a fraud and now it is not known who will use my data in the future. In addition, hundreds of different databases are sold on the Internet with a list of those who are associated with cryptocurrencies. This is an unpleasant trend, which is increasing every day.
I have participated in so many KYC's done by dodgy ICO's that I am sure my personal information is widely available on the dark web. My personal circumstances will however make it very difficult to exploit any of that information to your advantage, so I am past the point of worrying.
I don't want to take a big risk on myself. If not for the ICO which is really great and promising then I will not want to access my identity through KYC for ICO. better I find ICO as surely many ICO also without KYC, however, can also be successful in their sales.
I cherish in any of these casings, the live owner material agreements they concentrate is bill exceeding yard-dog than they fifty-fifty self-possessed from the present ICO.
This indeed should look out for. many of the ICO starts contains a scam and is certainly very dangerous if already entering our KYC therein. analysis of course also very necessary before join or invest in ICO. It's hard but at least anticipate known also as necessary.
As some of here said, never ever trust ICO's getting personal informations from you. This KYC (Know Your Customer) is only their alibi to at least scam their participants. We should be warned whenever we see an ICO with a KYC thing. Most probably, newcomers or newbies are not aware of this that is why they are always the subject of victims of frauds.
Instead of so trustingly sending potential confidential information to potential fraudsters, ask them on what legal basis they require you to do this data and what exactly is written in these documents, if they can specify such a document at all. I'm absolutely sure that members of the ICO generosity campaign are not subject to KYC verification. Only investors are subject to such verification, we are not investors.
good luck!!!!
good luck!!!!
never join any airdrop that request KYC, they only wanna steal your personal data then can sell it or do some attack behind you
Instead of so trustingly sending potential confidential information to potential fraudsters, ask them on what legal basis they require you to do this data and what exactly is written in these documents, if they can specify such a document at all. I'm absolutely sure that members of the ICO generosity campaign are not subject to KYC verification. Only investors are subject to such verification, we are not investors.
KYC submission to a company for an ICO or bounty is dangerous and it must be looked upon well before entrusting your sensitive data to unknown entities that might sell your identity in black market
Yeah, every ico and online biz is asking for kyc now, it is becoming more and more usual and mainstream, although kyc and this procedure is very annying i accepted this new trend as i understood that this kyc is important and implemented due to regulatory and official compliance but i have also read not it is not required by many countries, i hope situation will become clear in coming months.
Totally agree with you. This day and age we must be cautions about everything we share online. I participate in bounties, ico and airdrops but only the ones that require basic info such as email, social media handles. Everything else I stay away unless it is a project that I have been researching strongly about.
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