KYC as a Scam - page 5. | Bitcointalksearch.org

Trcream

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

All we need to remember that all projects need KYC, it's just time different.

belingbanged

jr. member

Activity: 322

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This is really very worrying because when hunters struggle to the campaign so the project has many investors. But when the project was finished they were told to go through KYC. Maybe there is nothing wrong with KYC, but when it was said at the beginning it did not use KYC. And for those who don't pass KYC, I think the tokens are still in their possession.

DZU1410

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https://saturn.black

Quote from: monkeyking03 on November 11, 2018, 02:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

I, too, am always indignant about the fact that the KYC is announced at the end of the bounty company, a person should know about such an event at the beginning, then everything will be fair, and so we just understand that the project gets rid of unnecessary.

wedosgibas

member

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here we go

Quote from: debby070 on February 28, 2019, 12:34:44 AM

How could they scam people out of their Identities? I am just confused how come can they? Is there a worth in selling peoples Identity? If so, how much? In that case we should stop doing KYC in anysense right?

It could be, they use your identity to follow giveaway, other airdrop projects. Or use a certain financial website with intentions of crime, and he put your identity there.

debby070

copper member

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www.codex.one

Quote from: monkeyking03 on November 11, 2018, 02:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

How could they scam people out of their Identities? I am just confused how come can they? Is there a worth in selling peoples Identity? If so, how much? In that case we should stop doing KYC in anysense right?

joeperry

sr. member

Activity: 2184

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If they don't require it or post it in the beginning of the campaign and ask it at the end of the campaign to receive the stake it's really shady and in my opinion it's 100% scam. This is an old topic but there's a lot of people are getting victim by this KYC we should all know that KYC is only for customer of the project to know the credibility of the investor and to know if he/she is not going to launder his/her money to that project.

This topic is about KYC and bounty campaign that is asking for it you can find the advantages and disadvantages of KYC and when or where it is needed: https://bitcointalksearch.org/topic/m.45641169

shaheer001

full member

Activity: 1274

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You are right dear in my opinion no KYC need for bounty hunters as it is totally unfair, bounty hunters are not the investors they only do hard work to get some rewards in term of bounty or token/coin. The project must firstly describe about KYC procedure for investors not and bounty hunters.

libert19

hero member

Activity: 2520

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Quote from: Lerikaweb on November 11, 2018, 03:00:18 AM

Sometimes projects have to add the kyc procedure due to some legal issues. We can only see the top of the iceberg above the water, but its biggest part is hidden deep under it. We can be unhappy with the new rules, but sometimes it is the only way to pay the stakes out.

Then those legalities should be done from the start, first they say no kyc, so hunters join and promote their project and later they play a foul game.

Siren

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

But thats reality they can change anything for everything that they think will make good for the project,most of the ICO don’t know about the cheaters on crypto advertising specially in bounty section in which cheaters are dominating the whole area,but suddenly the investors sometimes becomes affected by this changing of rules as management always have the rights,so if you are not hiding anything bad so why feel this way?and besides they will pay you just send them kyc is that really a big deal?

Accepted_check

copper member

Activity: 85

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Quote from: xiboothrezi on February 27, 2019, 10:17:51 PM

Changes to regulations are their right as organizers. As a bounty hunter, we can only surrender to the rules and changes that suddenly occur like that. If you agree, then do it, if not then leave it, simple, right? Concerns about misusing our data for kyc must be there, so it would be better if the developer provides a strong guarantee of our data security.

That's the worst thing when you participated in a bounty campaign. They can change their rules anytime. If they require KYC, and you don't like it, you can't just simply leave it. It's not that easy. You will be forced to send your personal information if you want to receive your rewards. You work for it how many months, you think it's easy to ignore that kyc and just forget your tokens? People are afraid to send their personal info coz they might become a victim of identity theft.

xiboothrezi

sr. member

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Changes to regulations are their right as organizers. As a bounty hunter, we can only surrender to the rules and changes that suddenly occur like that. If you agree, then do it, if not then leave it, simple, right? Concerns about misusing our data for kyc must be there, so it would be better if the developer provides a strong guarantee of our data security.

fuer44

sr. member

Activity: 1652

Merit: 262

SOL.BIOKRIPT.COM

there have been such things often, when the bounty is over and the team decides to oblige each participant in the bounty. I think it's the team's move to hold the token value when the participants are doing the kyc which is sometimes very difficult.

StephenJH

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No more Rekt and Bust

Quote from: eagleman on February 27, 2019, 07:18:21 PM

Like the quote that I've heard of before "if you are using a service for free, you are their product".

These airdrops and KYC requirement aren't just one single way for the developers, they can use our identities in something that they can in which only them are aware of.

It's simple, if you don't trust them don't send KYC.

Sometimes investors are forced to pay the KYC procedure. If the team decide to change rules for getting accepted by big companies then it will be essential to pass this procedure. I don't want to lose my deposit because of the small probability of getting scammed. Worst case is they will sell my identity documents on dark web.

eagleman

hero member

Activity: 1190

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Like the quote that I've heard of before "if you are using a service for free, you are their product".

These airdrops and KYC requirement aren't just one single way for the developers, they can use our identities in something that they can in which only them are aware of.

It's simple, if you don't trust them don't send KYC.

Bitbtc8

full member

Activity: 1148

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KYC itself is good but will they use it rightfully is what bothers me,our identity is not safe from hackers,darkweb etc ,I won't take the risk of dropping my I.d ,passport info and home address to get money that actually doesn't worth a lot ,even airdrops this days demand KYC ,it's just so unfair and unreasonable

KazuGold

newbie

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Quote from: Labumi on February 27, 2019, 11:05:29 AM

Quote from: Chinsmokers on February 27, 2019, 10:49:47 AM

I already experience this kind of thing, like in the beginning they wont ask for KYC but at the end of campaign they will require it eventually. Its a shock for us to imply with an limited time. Out effort became to waste because of KYC

if you are asked to give KYC when you become an airdrop participant or become a participant in a bounty campaign then you should not do that because your identity has a bad threat and your identity can be used for an identity trade crime.

yeh i agree with u, alot of airdrop project just want to collect our id, and also some of not fiat market exchange ask for kyc to claim the airdrop

Haxor321

sr. member

Activity: 489

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

We all understand the purpose why do we need to submit a KYC for them to know who were their participants. But all of us still hesitates before we submit our ID because we might get scam and use our identities to scam more people.

poodle63

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Leading Crypto Sports Betting & Casino Platform

Quote from: Labumi on February 27, 2019, 11:05:29 AM

Quote from: Chinsmokers on February 27, 2019, 10:49:47 AM

I already experience this kind of thing, like in the beginning they wont ask for KYC but at the end of campaign they will require it eventually. Its a shock for us to imply with an limited time. Out effort became to waste because of KYC

if you are asked to give KYC when you become an airdrop participant or become a participant in a bounty campaign then you should not do that because your identity has a bad threat and your identity can be used for an identity trade crime.

How many scam airdrops that asked KYC from the participants, these scammers will sell all of your data to the internet and that's it. I remember there was a scam ico that has been doing it too. I can't remember the name of that scam ico correctly.

Labumi

hero member

Activity: 756

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Quote from: Chinsmokers on February 27, 2019, 10:49:47 AM

I already experience this kind of thing, like in the beginning they wont ask for KYC but at the end of campaign they will require it eventually. Its a shock for us to imply with an limited time. Out effort became to waste because of KYC

if you are asked to give KYC when you become an airdrop participant or become a participant in a bounty campaign then you should not do that because your identity has a bad threat and your identity can be used for an identity trade crime.

Chinsmokers

member

Activity: 403

Merit: 10

I already experience this kind of thing, like in the beginning they wont ask for KYC but at the end of campaign they will require it eventually. Its a shock for us to imply with an limited time. Out effort became to waste because of KYC

Topic: KYC as a Scam - page 5. (Read 22301 times)