I do not think that this problem is too acute. If the ICO projects and the KYC verification are used by terrorists, then these are most likely isolated cases.
However, this problem exists. For bounty hunters, KYC checks in ICO projects are a big problem. Moreover, it should be said that the KYC check itself for bounty hunters is illegal, since we are not invasive and no state requires this from us. ICO teams abuse their rights when they require bounty hunters to undergo a KYC test.
Topic: Cryptocurrency, KYC and Terrorism - page 15. (Read 2717 times)
I am not sure about this issue, so far there is no evidence of crypto being used to fund terrorism. although the opportunity for that is very large at least the OP provides evidence.
and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
This is indeed difficult to prove but now the OP is talking about KYC being used for terrorists. actually in this case it is not new when bitcoin is associated with terrorists or other crimes. but it can't be proven. and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
It's a possibility. I mean if Facebook can just give away data like right, what's stopping these random people creating ICOs from selling your data for more money.
This was I never really spent anything on ICOs. I check updates but don't get involved unless their coins shop up on exchanges. The only KYC I can tolerate is exchanges and only coz there's not much work around it.
When anyone asks you for KYC in exchange of money, sorry but to my mind, if you accept it, this means you cost that much. I have no idea why some people just send their identification documents to any ICO, Casino, Exchange and etc even without checking whether website is trustworthy or scam. Problem is love of easy money, this is where from everything begins and ends.
This was I never really spent anything on ICOs. I check updates but don't get involved unless their coins shop up on exchanges. The only KYC I can tolerate is exchanges and only coz there's not much work around it.
terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities.
This is the part I don't understand. Are you saying terrorists are allegedly stealing identities or money from people in order to fund their activities? What good would someone's identity do for them as far as terroristic activities go? Plus I'm not sure how much information you can gather about a person, even if they invested in an ICO that was a terrorist scam.As far as using scam ICOs as a vehicle for fundraising, sure that's a possibility. But terrorist groups could also try to scam people out of their fiat money, and probably with much more ease as well.
Sounds like this is all directed toward giving crypto a black eye by linking it to criminal activities--but that's always been silly IMO. Cash has been used to fund all sorts of illicit and illegal businesses since the beginning of money, and yet we still use it without prejudice, don't we? So it really doesn't matter if it's cryptocurrency or US dollars that the terrorists are using. Go after the criminals and don't try to demonize the money they use.
I am not sure about this issue, so far there is no evidence of crypto being used to fund terrorism. although the opportunity for that is very large at least the OP provides evidence.
and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
When anyone asks you for KYC in exchange of money, sorry but to my mind, if you accept it, this means you cost that much. I have no idea why some people just send their identification documents to any ICO, Casino, Exchange and etc even without checking whether website is trustworthy or scam. Problem is love of easy money, this is where from everything begins and ends. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
This is indeed worrying and it is very possible that the scenario will be carried out by terrorism. But with this growth we know that ICO will no longer be interesting in this industry because there is already an IEO as another alternative for projects that are serious about building their projects, because there are things like better regulations and this step should be supported because the project Having a product will be willing to follow the rules and the clarity of each project is important so that they do not hesitate to invest and send a KYC. I personally will only avoid things like this just to keep privacy good. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
For no one is no secret that over many exchanges the dirty money is washed. But I do not think a big part of it is the money from terorristen. The hackers are more wrapped up than terrorists. And KYC is just a tool of states to make this market a bit more transparent, no more and no less. When considered proportionately, for dollar more terorism is being funded than for crypto
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
Have you consider for these things is already happening with Fiat system? So,no surprising that it would possibly happen here on CryptospaceIMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
that's why crypto do have that kind of negative image because it is being always portrayed that crypto is a good vessel or tool for these kind of
transactions which they haven't realize that it is already long time existed with Fiat.
Kyc was not started by cryptocurrency it has been in existence for a long times and banks, institutions etc uses it to identify individuals.
I don't have any problems with kyc and I think so should everyone the real issue here is initial coin offering icos the sector is infested already and if there is a target to get people's identity through kyc am not surprised is through that area.
We can not avoid kyc complete but if we avoid joining and sending our details to entities we not sure off then at least it would be mild
I don't have any problems with kyc and I think so should everyone the real issue here is initial coin offering icos the sector is infested already and if there is a target to get people's identity through kyc am not surprised is through that area.
We can not avoid kyc complete but if we avoid joining and sending our details to entities we not sure off then at least it would be mild
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
Wow, I always thought of KYC as a measure to prevent financing of terrorism, not a way to enforce it and make other people guilty of it. ICOs are full of weird investors, shady teams and who knows which applications of money. I think it might be wrong to ban them, but they have to be monitored strictly. People gave a lot of data to ICO teams. In fact, sometimes they are basically required to do that under some legislation. I don't understand how these data can be used against these people in the future, though, but if there's a way to pretend to be one of those people while financing terrorists - it's extremely serious. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
I don't think its a speculation anymore terrorists can use any kind of tactics just to gather our information and they might done it to fake ICOs, exchanges, and fake websites just to obtain our documents. Of course the possibility of this is high because even them are also in the crypto market now as where the criminals have been in a long time now. That' why you only give your KYC documents to trusted ICOs and exchanges you really don't want to trust unaffiliated ICOs and exchanges with our government as you really don't know what they'll be doing to it.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
It is possible and could possible be happening already. There is a lot of projects conducting ICOs that run away after they’ve gathered enough fund. Posting some whitepapers to represent their project only as a front but nothing of anything written will actually happen. That could be for different purpose or we don’t know if real terrorists are behind these activities. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
That's why it is advisable that no one should ever submit KYC documents that easy, and no one should ever agree into sending their documents in exchange of pennies (I'm looking at ICOs and airdrops asking for KYC in exchange of a slot). Identity theft has long been a problem in the digital world even before the advent of cryptocurrencies, and it only was intensified because hackers and criminals knew that before they can exchange their anonymous currency into fiat, they need to go through an exchange to process everything, and that's where KYC docs of other people become handy. Selling of such is rampant in the darkweb as well, and perhaps it's best for law enforcement agencies to get at these sellers rather than go after those who use the faked docs. Cut the source before it pollutes everything, right?
The funds for terrorism takes place through the big firms and probably this happens in dollars. The most used currency for illegal transactions were dollar. I don't say that no illegal transactions have taken place with bitcoin, but governments easily term it a channel for illegal funding without any proper information. Particularly in most of the cases when there is no clue in finding the way the funds have moved, they just indicate bitcoin as the way. This is how more things affecting bitcoin bitcoin in a negative manner.
I haven't heard of those accusation before that ICOs were being used to fund terrorists. But I've heard of it before that they're also into crypto so that their transactions are anonymous. But for me, I think they still prefer cash than crypto's. As long as something has monetary value they can take advantage of it and as for KYC, I'm not trusting anymore anyone on the web when they asks for it. That's a big possibility that people who will comply to it, those info will be used in a wrong way.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
Bitcoin doesn't need KYC are any of your personal details to use it but some of the new projects might needed you can definitely avoid those projects which you think they will misuse your personal information details. I too agree that people may misuse your details but cryptocurrency related with terrorist activities looks like a story created by the people who doesn't want the decentralized payment system. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
I think the main reason they ask kyc for large amount or on some exchanges even for low amount is money laundering and terrorism, if this not was on this world we could trade without kyc on most exchanges.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace. what are your thoughts on this?
In the expanding world of terrorism, anything even bizarre can be possible and as for funding these people can be so creative, if ever they have used ICO projects to fund their activities I would not be shocked. However, let's make it clear that these are speculations and as such without proper and vetted evidence favoring the matter then these should remain as speculations. Let's make it clear that these people can easily get funding outside of the world of cryptocurrency and they can get information that they want without going through the KYC procedures. But am hoping that an investigation should be conducted on this matter so that we can know for sure that this industry is not being utilized by unscrupulous people including the terrorists.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
This is the reason why I am really against KYC in ICO's and airdrops or bounties.IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
We couldn't know if those people are only after our personal information and it is the risk that we are facing.
What would happen to our information once it goes to the terrorist?
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