Topic: ICO scammers, Sell your uploaded KYC ID documents, adress for a lot of money. - page 4. (Read 3585 times)

at the moment it is very difficult to know how to find out the ICO is a scam or not because sometimes there are also those who have given KYC because they are not too vigilant, so it is better for the ICO participants to be more careful and not to give you the identity you have because it will pose a threat to you.

It is definitely a big problem and I think it is difficult to overcome this problem. We should be careful while giving our personal data on every online site. These scammers are the worst people in the world and ruined lives of many innocent people. It is illegal and these scammers should be put to death, so that other scammers take a lesson from the verdict of scamming.

This is some clever identity fraud. Hope this wont affect much people.

I did not invest or join to iCO who have KYC because for my protection because someday they will use it a bad way if I give my personal details and information so always be careful because a lot of scammer maybe you use your information to scam people.

Being a member of Bitcointalk for more than 6 years, I am quite a bit bothered by what happening in the bounty section for the past few months. This is what I have noticed:

1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo. 

2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign. 

3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months. 

4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping. 

5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now. 

I have a few suggestions to resolve some of the issues, before the issues go out of hand. 

1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier. 

2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them. 

3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers. 

4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters). 

5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs. 

I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever. 

Good ICOs need to be protected from the negativity in the market created by the fake ICOs. 
Honest bounty hunters needs to be protected from

Yes ,Theres some strange ico and airdrop that ask kyc and
 after few months the site project just disappeard,.I think they are identity theft.They want to use our documents for their own benefits.Everyone should be very careful.

this case makes many bounty hunters and participants from the ICO have to be more careful when wanting to become an investor or being a participant from a bounty campaign should avoid ICO who need KYC because it may be that your data or identity will be used for criminal acts.

Better to have our own research then complaining on managers. Trust on your research then blindly falling on someone's. Practice it. We do have best icos with best projects besides scam ones. I understand it's bit hard to work on it but we have to as we are into crypto which covered the market bringing in more investors, business and cheaters as well. We need to be more pro-active as we are into such a popular platform. Hope this helps.

You should avoid those kind of manager's campaign from participation if everyone do the same then they will be no more get united all the bounty participants if you want upper hand.Know your power mate.

Even we want to avoid those bounty while the BM announce it in the middle nor end of the campaign then the participants are torn whether they do this or not. Of course no one wants their identity to compromise but bounty participants have less power more than anyone here.   

That is the reason we need to avoid the KYC needed bounties unless you don't care about your identity used by some criminals in some years but you will get caught for that action just because of some money and in most cases you won't get any rewards from participating on those campaigns but taking too much of risks.

This is not even a new thing. This has been happening for long, should I say starting from when internet was introduced. The dark web is really a bad place and lots of things are happening on the dark webs.

I have seen a lot of people order for some mysterious packages and end up getting themselves in problem. People do a lot of stuffs there, that’s why it’s good to protect yourself online and stop giving out sensitive information or things that are meant to be kept secret.

This is not new anymore and in fact you can find a lot of documents that's being sold in deep web.
They sold it in less than $20, a scanned id with billing statement and a selfie.
It's very unfortunate that kyc documents were abused and using for personal interest.
No matter how we tried to avoid them when the team requires it then we leave no choice.

I suspected this right from the beginning when I came across this KYC thing. My mind has never been free from such troubles of having my information sold for money by these scammers. It may be funny but I think some of us get the few bucks we earn from our sold information.

this is terrible if you find something like this then the platform created by ICO will sell your privacy and personal data so that the data that is supposed to be very confidential can be known by many people and I think it will be used for criminal acts that will not be known by the owner of the document.

This is a serious problem mate. I knew it, it's very possible that they're going to sell our information. That's breaching of contract. That's why before submitting your KYC documents make sure that those people behind that ICO are legit and all their details are visible too. It can be worst when they're going to use our documents in an evil doing, maybe someday we're shocked if someone give us an arrest warrant because of criminal offense that done by those fake ICO.

And you should be worried, many people think that they are never going to be scammed or that they are never going to lose their information to scammers, I know it is hard to believe but it is very likely that it is going to happen to you if you keep wasting your time working for bounty campaigns that ask for personal information about you, the only way to avoid that is to only work for bounties that do not ask for that information.

Those licensed businesses are selling your data too, or they get hacked and someone sells it on the black-market.

How can I prevent this from happening? The fraud is more and more difficult to control.

I think that this case should be challenged in court in a country where cryptocurrency is legal, because it is an illegal act and a scammer should be put to death for this illegal activity. It is also right to give them fake documents to save yourself and your personal data. Crypto currency controllers should also take serious actions against such scam ICO investor.