I have seen evidence of some scams being run under the guise of KYC in order to gain your passport and government issued id's. Be careful out there and remember that a lot of these coins end up being scams. Do you really want them having your passport/photo identification? This is how people fall victim of identity fraud so please think before sending your information in.
Good post! This should be useful for those who think they can just signup on airdrops/ICOs with KYC without repercussions. I never submitted such as of this moment but will do my due diligence to spot legitimate projects that wouldn't do such. 
Topic: KYC scams - page 18. (Read 2927 times)
Good looking out. This is why I think Selfkey will be huge. Their project is centered around identify protection and making the KYC process easier and safer. Obviously DYOR but I'd recommend checking it out. Government regulations are only going to increase as crypto gets bigger and that'll mean having to do more of the KYC process for everyone that participates in crypto trading.
Can someone explain what these cyber criminals gain by obtaining pictures/numbers/details of your passport or driver's license? Let's say they live in America and they got passport details of an someone living in Asia. I can't imagine how they would use that to hurt the Asian without it being an obvious fake/scam? Unless they use it to scam someone dense and unaware I don't see how it would pass basic security checks.
The KYC verification is really unreasonable and needs to be verified by a statistical KYC verification mechanism, and then all the ICO projects need access to this KYC verification mechanism, otherwise the information will be leaked too much.
KYC is against the whole cryptocurrency philosophy. Try to avoid it by using as little fiat and centralized exchanges as possible and only with temporary wallets.
Many tokens require you to submit Kyc, which is a means of verification, but some ICO projects sell our personal information, which requires further regulation
I thought for all this time it was profit but it's opposite. There are some person that exploit this thing. Hope kyc will sooner looking for the solution for us.
A good reminder for all the people who are giving their private information to completely new "companies". Be careful guys.
Oh wow I didn't even consider that side of the coin...I mean I always just assumed they would be doing it for my benefit. But yeah the hackers and scammers would run my name through the mud, thanks for waking me up to this OP! God damn gotta stop being so naive and trusting the world. 
LOL
yes Indian exchange users fell to this scam just recently, and coinbases too, when organized criminals stole the ID's from their customers big time
The only ID one should need is a private key and decentralized exchanges will make that possible
yes Indian exchange users fell to this scam just recently, and coinbases too, when organized criminals stole the ID's from their customers big time
The only ID one should need is a private key and decentralized exchanges will make that possible
Yes, users should be ware of whom they are sending their identity.
Most of the new coins are just doing to look special.
Anonymity is one of the reason why people switched for paypal to crypto.
Most of the new coins are just doing to look special.
Anonymity is one of the reason why people switched for paypal to crypto.
I have seen evidence of some scams being run under the guise of KYC in order to gain your passport and government issued id's. Be careful out there and remember that a lot of these coins end up being scams. Do you really want them having your passport/photo identification? This is how people fall victim of identity fraud so please think before sending your information in.
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