Topic: KYC + all your official papers being stolen and traded - page 9. (Read 1733 times)

ouch i think i just give my citizen ID and bank account to one of ico, and i forget which one..damn

i hope they will make good use of it 

and this make me worried more

It's very tricky because new websites are created and most of them require KYC and we really should not trust new websites.

Yeah they do.  Proof of identity and proof of address is standard to open any financial account, or other services.  I wouldn't give out my passport personally, drivers licence works.  They use third party service to do the actual verification so possibly don't actually hold the data themselves.  However its a risk with potential for someone to simply start up a ICO for the intent of harvesting ID so we need some form of single portal to verify ID and validate you with some cryptographic signed token... oh someone has done this, just no ICO seems to use it.

I think you make a very good point, but it's really impossible to prevent if you want to get verified at the best exchanges.
Decentralized exchanges could be a possible solution to this in the future, but they need to improve first before they are ready for the general public.

I do hope that the biggest exchanges handle your data safely.

You made valid points here. To be honest I've never heard someone giving his personal information so easily, to complete stranger on other part of the world.
This is so crazy, people willing to give their info's for couple bucks.
I think this is new facebook generation, at some point they will learn how privacy is important but when they do - it will be already too late.

Invasive project are spreading like wild fire now partly because of some regulations in US. There is no reason on earth why you should hand down your personal information for complete stranger on the internet! I see a lots of newbies falling into this error!

I agree. A new system of know your customer is unfair. With such requirements, there must be a section know your partner, in which the company describes more accurate information about yourself and your employees. This two-way return will be fair.

This is new precedent trying to be set, the more people the give in, then you'll have to give you info out for every single airdropped/bounty out there.
It's very dangerous for you to trust these non-reputable individuals with your information and for the future of cryptos as a whole.

You can blame Polymath for this, they don't want to work harder filter to filter puppets, so instead they want your ID. Now it's coming out that many are following suit, do to the laziness by the Polymath cunts, they've effectively conducted the worst airdrop in the history of Crypto.

There is probably nothing we can do to stop this, because the vast majority of people trying to do airdrops are very likely to hand over their info without a second thought. This has major repercussions, some of the worst repercussions we will ever see in the future of cryptos.

The best thing you can do if you're reading this, is to not give in to these new information whores, never submit your ID or any information to anyone in Crypto. These people are more than likely to flip your IDs on the darkweb for a profit. There will/is information coming out on these forums in regards to this, and i'm glad people are speaking up here about it.

There is only 1 type of group of people who need to submit their ID's and information, and that's the creators of said Bounties, ICO's or Airdrops. Flip the tables, stand up for what's right and demand more transparency from these motherfucking whores. Because at the end of the day, if the devs are not willing to, why should you? They are the one's who are generating the funds, they are the ones accountable for this whole fucked up charade.


Note: I posted this in another KYC thread, but i have to repost it here since this is such a serious issue, this is more dangerous than a couple of devs walking away with millions of USD in scam funds, or using that money for activities. The reason is, is because they can actively use your identification for just about anything in this world, from opening up bank accounts, to purchasing weapons and other shit. Yes weapons can be registered under your name with a simple ID card, and that said weapon can be used to do harm to others. This is one scenario of how this is totally fucked up.

If your ICO/Bounty is trustworthy, it isn't. Because they are very liable to be hacked, because they are in the spotlight. Most devs don't know how to protect themselves with information. Do you trust your ID's to sit on a server for decades without any tampering... we live in the real world here. Fucking big businesses can't even protect themselves, what makes you think that these mysterious agents are going to protect your interests, 10-20 years down the line?

You need to stop using them.  If we all say no we win.  Your taking HUGE risks sending things in like that. 

Also, in addition to projects, we are often asked to undergo a complete verification on stock exchanges. To exchanges, we seem to be more loyal than to new projects. But the stock exchanges are getting bigger now. And it is really possible to hack a large stock exchange, not to mention a break-in or a small or scam exchanges. Unfortunately the decentralized exchanges are still not very developed and are not very popular, but probably future ones.

I am totally new into this and yes you are right if KYC could be a big problem, but what else we can do if some of project keep asking about it before we can investing to them? I mean for new comers it is difficult things to decide

Yup, KYC is a pain in the ass. Gladius project just announced that they need it for all bounty participants. Ofcourse scams happen in the crypto world, but you also have to look at the devteam, and the project itself before deciding on if you want to go trough with it.

This is a serious threat, especially if the project is a scam.  Even for legit projects, there's still the possibility of the website getting hacked and all your information could be used for illegal/fraudulent activities.  It is best to not submit any documents but sometimes you have no choice, for instance many of the top exchanges requires documents to get your account verified. 

This is because of usa  if project has ant relation with usa, then they impose us strict kyc requirements. It is very difficult for any projects to keep our papers safe.

Think about it from a .gov perspective.  As we know most .govs do not like crypto.

They will know right where to find you now that you have sent your PASSPORT!  Since you have no real idea who your sending it to its checkmate time and you just lost your anonymity.  You really have no idea who you even sent it to. 

Some are in for a world of hurt. 

Keep personal information personal guys.  This is worse than Nazi Germany.  Show me your papers!!!

Crypto fails as soon as everyone gives in to this.  It defeats the entire purpose of crypto.

I have been watching this development closely and stand in amazement anyone would hand their passport over to strangers.  I think we have hit peak stupidity at this point. 

For a few thousand bucks you could hire a developer or two.  Create a decent looking project.  Grab a few hundred to thousand passports and perform crimes.  Leave these passports out for the authorities to find.  Perfect crime.  Some knuckle head crypto enthusiast will be brought up on crimes against humanity as the Al Queda or whoever runs off.   

Some of these boys will have INTRPOL and the CIA at their door. 

They are teaching my 7 year old in school not to give personal info out on the internet and you guys are throwing your passports out not to establish corporation but to anyone with a white paper.  You guys are nuts.

Be very careful sending in your passports and govt id's for KYC.  Your 1 scam project away from having your identity stolen for god knows what on an international level. 

Also look very closely at the "projects" asking for this.  One of the major points of crypto is to be anonymous.  Do not give this up.  If you keep sending in your "papers" to strangers you will get burnt eventually.

Think about what the authorities will say to you when your identity has been stolen.  They are going to ask why in the world you would give your personal info like this to a stranger on the internet.  It makes no sense on any basic level to give your info out like this.

JPMOGAN does not even ask us for this level of identification when opening an account.

Think about it please.

If we all deny the KYC projects this invasive procedure will go away.

To anyone who has been giving your passport online you had better get a service to help protect you from identity theft as you have handed your most personal of information to complete strangers you do not know.  They can use your passport for any reason including terrorist acts.

Imagine the terrorist cells starting a project and getting all the FOMO warriors passports because they got in such a rush and turned off their brain.  Now you have real problems.

Good luck guys.