Topic: Polymath Scam: Stay Away! - page 5. (Read 1186 times)

Total Scam.

No human with a single working neuron would ever give one of these projects their passport or government ID.  They could be hacked, incompetent or straight criminals.  What if you passport get into the hands of terrorists and its used to gain entry for an attack?   

That being said when they lead us all in to do the work for them it was all good.  Then BAM KYC scam.  Bait and Switch. 

1) Do not give your personal information over the internet.  They teach this to my 7 year old kid in school.  If your giving your passport over the internet you need to seriously think about the consequences.

2) Never invest with a project that requires this and shun them at every opportunity.  Any project that requires passports knows full well they cannot protect the information 100%.  Thus they are taking your security away from you which goes against the entire concept of the crypto movement. 

Shame on you PolyMath, Bobs Repair and GoNetwork

It's not that they are requiring KYC.  It's how they are going about it.

Most of the airdrops/ ICOs are requiring KYC lately, by mid 2018 i see that being compulsory for all you want to join.

Possibly, it's not law or made for certain. It is an obsecure outline that has no solid basis behind it, it's just the way people want to interpert these laws.
Also, this is only in regards to the U.S.

And when things are that fucking complicated, or without backbone, then just avoid them entirely. Chances are, you will never be in trouble for it, because there are loopholes around them. Airdrops are donations, experiments, nothing more. The "anticipation of making $ off an airdrop" is never the intended goal, it's to be apart of a community network, bounded by crypto that they will believe will make a difference.

It's as simple as that, and the laws have no hold against you. Because i join airdrops to make a difference, to participate in potentially revolutionary experiments.


I stand by my word, never submit your documents to anyone in crypto. Not even to these corrupted cunts @ polymath. Very fucking dirty, if they can't even handle which documents they want. I wouldn't trust these fuckers with $1 of mine, let alone my ID.

Weird. One thing is for sure they spent good money on advertising.

Let's look at it from both sides.

I've heard that because of new regulations KYC is possibly also required for airdrops. If that's true then there's little choice but to comply if you acknowledge those regulations.

On the other side, some companies in charge of the KYC process have strange terms and conditions that allow them to use your information for both their own purposes as well as the purposes of their clients, in this case the team behind the airdrop.


That's not harmless boilerplate legalese. Turns out those clients may instruct the KYC processor to hand over the personal documents - and in case of Bittrex, transmit them over plain text, unencrypted e-mail.

https://cointelegraph.com/news/bittrex-leaks-user-passports-in-support-emails-says-russian-telegram-channel

Going one step further I wouldn't put it past bad actors to abuse the mandatory KYC regulation to harvest passports for identity theft.

I am understand your dissapointment, I have applied for the airdrop and I think I will get some tokens. Anyway they are free.

This project does not strike me as a fraud nor scam.

This is the fucking truth, and submitting your Documents just for receiving a few tokens that are going to be worth $0,50 each or so?

This is not worth guys, you are revealing your identity just for 100 tokens worth $0,50 or less each one of so.

So for me, it is a wast of time, and energy, i would never join that fucking airdrop who is asking about my ID all the fucking time.

I posted a thread, but noone really gave two shits. I warned you guys.

https://bitcointalksearch.org/topic/m.28063113

NEVER submit KYC documents to anyone, anywhere. Very fucking dangerous.

It's a scam for hyping the crap out of this thing, keeping 50,000 people waiting and hanging on their every word, and then making last minute changes so that hardly anybody will actually be able to participate.  Maybe it's not a scam in that they are not stealing from people, but they are up to something.  And even if they aren't, this trainwreck doesn't inspire confidence in the company.

wtf how is it a scam if they haven't made any money?? From what I saw there were too many bots and people using multiple accounts to get free POLY. In my opinion, I don't think that's fair. This is what they posted from their telegram:

"Hello everyone,

You have been an amazing community!

With the sheer volume of interested users there have been various issues people have encountered. Here are answers to some of the common questions:

1) Is the airdrop open? Yes. token.polymath.network

2) It says No allocation found. You needed to pre-register for the airdrop from Dec. 25 to Jan 10. If you did not pre-register then you will need to wait until those who did have a chance to go through.

3) But I swear I did pre-register! Please check to make sure you used the same ETH address as you did before. If you went through once already and were rejected by the KYC system, you will need to wait before you can try again.

4) Can I use my driver's licence? No. The system accepts passports only.

5) Will I get a verification email? Not at this time. You can confirm your status by visiting token.polymath.network and putting in your eth address again. You will either be verified, rejected, or pending review.

6) How long is the review? It may take up to 48 hours.

7) I uploaded a valid passport. Why was I denied? The verification requirements are very high. Please make sure you passport photo is very clear and matches your name and country that you input. This is the main reason applications are rejected. Other less common reasons are: invalid country, under 18, or your information matched a those on various sanction screening lists.

If you have another issue, please refer to our support team. We also love our community and if you can refer users to this pinned message it will help as well.

Our admins have done a magnificent job with our Telegram channel. With 50,000 users there is bound to be some bots or users promoting other channels. We actively ban those accounts. We appreciate all the support from a number of active users in our community, but will not tolerate foul language.

There will be plenty of time to get in. Remember, it's not a race. We set the allocation amount at a number we felt would satisfy the community. Due to the high verification standards this process may take some time.

In the meantime, please use this channel to ask questions about our platform and how you can use the token to access the ecosystem. ❤️"

Don't waste your time with these amateurs.

They super hyped airdrop got everyone excited.  First they delayed the release of their KYC instructions.  Then they took the KYC site down for two days while they "cleared a backlog." They've brought it back now, but they changed the rules.  Half the people who signed up are being told their wallet addresses are not registered.  And now you can only complete the KYC process by submitting a copy of your passport (drivers licenses and/or other government IDs will no longer be accepted).

Many of us spent hours trying to get approved for the airdrop.  I know I did.  What a huge waste of time!

I hope this project fails.  These guys are real scumbags.  Stay away!