The KYC scam - page 5. | Bitcointalksearch.org

cornster

newbie

Activity: 31

Merit: 0

Quote from: Dissident991 on February 17, 2018, 01:59:48 PM

All projects use KYC now, it is normal. It just to identify that you are not US or other prohibited countries resident and prevent bots using in registration.

This is completely false. I'm in multiple bounties and ICO's that are not requiring it. This guy is simply making this up.

It's a small majority of scam projects attempting to make this KYC scam stick. This fool must be one of them.

Any project which cares about technology and crypto will move there project to a proper local instead of putting all their supports information at risk. The biggest of the biggest corporations get hacked and the data stolen. Do not give your data to small time firms.

Sterben

member

Activity: 145

Merit: 10

Many projects are announcing KYC process beforehand. I don't really understand your statement, KYC process was created so people don't abuse the system. You know, some ICO's are making restrictions on which countries can and cannot participate in their crowdsale. It's just the law that forces them to implement this. For an example - ICON. ICON was one of the first ICO's in which I participated and there for a first time I saw that there is something called KYC (Know Your Customer) application. As you know, Korean government started to regulate the cryptocurrencies and they want to get rid of all scam projects and make things more transparent, we are talking about real money flow, which is still not regulated by many countries and because of this reason bad people can use this opportunity to make anonymous transactions or use the virtual funds for illegal stuff. Even that after they hit the exchanges anyone can buy or sell this, they are obliged to go through this process.

jackolinyoko

member

Activity: 204

Merit: 10

I know that KYC is to protect the project's from being abused,and to identity these chinese and u.s citizens who wants to join these ICOs because the SEC has been banned these people of joining ICOs,clearly these Is are just protecting their project because the SEC might sue them from accepting U.S citizens,but for me KYC is not necessarily needed with the bounty hunters because our only job is to promote these ICOs and we didnt even joined these ICOs that is why KYC for bounty hunters isnt acceptable.

3kpk3

full member

Activity: 1008

Merit: 149

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: JessF-38 on February 17, 2018, 01:41:55 PM

Quote from: freestyle07 on February 17, 2018, 01:19:37 PM

I believe the projects are using KYC as a ploy to not payout after bounty hunters have already done the work. I see more and more of these surprise KYC requirements after the work is done. This is clearly being done to seize the funds of the bounty hunters who are not willing to give personal data to god knows who.

Very clever trick. They are trying to use us then ask for requirements which go directly against the movement.

This happened to me as well!! I did all the work and requirements and then at the end they hit us with KYC. Needless to say I'm not ignorant enough to send in my passport so I was not paid for the work and the bounty manager/project stole my work.

I'm also very surprised to see the amount of people willing to bow down to the rules so easily. No wonder the powers that be always stay in control.

If crypto does not equal privacy/anonymity then what the hell is the point of all this? I believe crypto begins to die once it is no longer anonymous. Visa and Mastercard wins hands down at that point. The privacy is the main selling point.

I will begin switch my crypto over to my local bank as this trend increases. Crypto is pointless when you have to send your passports in.

Mastercard/Visa and the big banks do not require this level of security to get a credit card so now crypto has ZERO advantages.

Well said. I agree with you completely here. This whole KYC drama is seriously hurting crypto and the members of the crypto community which is why I urge everyone not to fill in these KYC forms since it defeats the entire purpose of crypto. Many airdrops are also asking for KYC forms these days which is deplorable and something that I am completely against. We must boycott all such campaigns to teach them a lesson and make them understand that we are not willing to sacrifice our privacy for the sake of money(Which we may or may not get).

so_stupid

full member

Activity: 448

Merit: 103

Bitgesell (BGL) Decentralized Cryptocurrency!

I think that the developers are doing this procedure to weed out the fake accounts. But the problem is that anyone can forge or buy any documents. On this all have to spend time and money, but the sense of verification is lost Sad

Dissident991

full member

Activity: 490

Merit: 105

All projects use KYC now, it is normal. It just to identify that you are not US or other prohibited countries resident and prevent bots using in registration.

bob3772

full member

Activity: 415

Merit: 100

I don't think it's a scam whatsoever, at least the large majority are not. I think it's that many do not look in to their legal obligations before announcing bounties and such but then later realise they need KYC. It's a legal requirement so there's not much they can do about it. Mostly it really limits multi-accounters which is a great thing.

TwSeventh

full member

Activity: 566

Merit: 113

Quote from: steadyrice on February 17, 2018, 01:40:21 PM

Don't ICOs generally announce these requirements beforehand? I've run across some ICOs like this but they always announced beforehand that they have some sort of KYC process in place. It is a dirty move if they announce it for the first time after the bounty is over and it's time to pay, of course.

if we are talking about a legit one,of course they will do that for sure.
but the main problem is,from 1000 projects out there only 10 legit projects that we can see and only 5 from them commited to their promises.
so it's not surprising to see this kind of problem,
first you're doing their task,and after they completed the ICOs.
they will ask you another and most of them ask you to send your document which is totally questionable.

butcherme

member

Activity: 368

Merit: 18

Quote from: freestyle07 on February 17, 2018, 01:19:37 PM

I believe the projects are using KYC as a ploy to not payout after bounty hunters have already done the work. I see more and more of these surprise KYC requirements after the work is done. This is clearly being done to seize the funds of the bounty hunters who are not willing to give personal data to god knows who.

Very clever trick. They are trying to use us then ask for requirements which go directly against the movement.

I actually think that sometimes ICOs use KYC as a delaying tactic or to even avoid paying some participants their bounty reward. I don't actually get the point of asking KYC for bounty hunters. I understand that it's needed for investors for regulatory reasons. I really avoid joining bounties with required KYC.

vederfreds

jr. member

Activity: 155

Merit: 1

Quote from: JessF-38 on February 17, 2018, 01:41:55 PM

Quote from: freestyle07 on February 17, 2018, 01:19:37 PM

I believe the projects are using KYC as a ploy to not payout after bounty hunters have already done the work. I see more and more of these surprise KYC requirements after the work is done. This is clearly being done to seize the funds of the bounty hunters who are not willing to give personal data to god knows who.

Very clever trick. They are trying to use us then ask for requirements which go directly against the movement.

This happened to me as well!! I did all the work and requirements and then at the end they hit us with KYC. Needless to say I'm not ignorant enough to send in my passport so I was not paid for the work and the bounty manager/project stole my work.

I'm also very surprised to see the amount of people willing to bow down to the rules so easily. No wonder the powers that be always stay in control.

If crypto does not equal privacy/anonymity then what the hell is the point of all this? I believe crypto begins to die once it is no longer anonymous. Visa and Mastercard wins hands down at that point. The privacy is the main selling point.

I will begin switch my crypto over to my local bank as this trend increases. Crypto is pointless when you have to send your passports in.

Mastercard/Visa and the big banks do not require this level of security to get a credit card so now crypto has ZERO advantages.

This point is huge. You do not have to give this info to the banks to get a credit card. So now its easier/cheaper/more convenient/and safer to use the Bankers to make transactions.

Crypto no longer has a point if this continues and the bankers win once again.

I applaud all of you who are taking a stand.

nakauten

member

Activity: 210

Merit: 10

I prefer not to join with these ICOs that requires KYC verifications because i dont want my privacy and identify to be compromised,our IDs could be use in illegal activities such as identity thefts,which is unacceptable because the people behind these ICOs doesnt undergo with these verifications and why would the community risk their indentity? IDs are very precious thing that we couldnt afford to lose,that is why we are using cryptocurrencies to eliminate centralizaion.Best thing to do is to stay away from these ICOs,because you might wake up one morning you are in the news having criminal offense because your ID was used to criminal activities.NO NO NO!

kipozer

member

Activity: 490

Merit: 11

It is likely that this is so. After all, no one can know exactly for what purpose the project starts this process and where they eventually transfer the data of investors. Because it seems to me that these data are not transmitted anywhere, and personal information can be lost afterwards.

favelle75

hero member

Activity: 910

Merit: 501

i never join to kyc required ico. i prefer to buy in exchanges.
we are in crypto world and we do not have to kyc approval for sure.

JessF-38

jr. member

Activity: 88

Merit: 1

Quote from: freestyle07 on February 17, 2018, 01:19:37 PM

I believe the projects are using KYC as a ploy to not payout after bounty hunters have already done the work. I see more and more of these surprise KYC requirements after the work is done. This is clearly being done to seize the funds of the bounty hunters who are not willing to give personal data to god knows who.

Very clever trick. They are trying to use us then ask for requirements which go directly against the movement.

This happened to me as well!! I did all the work and requirements and then at the end they hit us with KYC. Needless to say I'm not ignorant enough to send in my passport so I was not paid for the work and the bounty manager/project stole my work.

I'm also very surprised to see the amount of people willing to bow down to the rules so easily. No wonder the powers that be always stay in control.

If crypto does not equal privacy/anonymity then what the hell is the point of all this? I believe crypto begins to die once it is no longer anonymous. Visa and Mastercard wins hands down at that point. The privacy is the main selling point.

I will begin switch my crypto over to my local bank as this trend increases. Crypto is pointless when you have to send your passports in.

Mastercard/Visa and the big banks do not require this level of security to get a credit card so now crypto has ZERO advantages.

steadyrice

member

Activity: 140

Merit: 11

Don't ICOs generally announce these requirements beforehand? I've run across some ICOs like this but they always announced beforehand that they have some sort of KYC process in place. It is a dirty move if they announce it for the first time after the bounty is over and it's time to pay, of course.

Nipperkin

newbie

Activity: 51

Merit: 0

This is exactly the scam that is playing out...we need to out these projects and vow to never work with them again. Here are the projects that have scammed the bounty folks that I know of. ICOs, you are on notice, pull this scam and we WILL boycott and work against you, it's just that simple.

1. CyberMiles (AFTER the referral program they claimed that you had to purchase at least 2 ETH...of course the ICO sold out in 45 minutes)
2. SwissBorg (they pulled the old, "oh we need a NON USA KYC completed to release your referral credits")

Everyone please list others that can't be trusted...as these projects have made a HUGE error in judgement that will cost them dearly as the crypto community isn't that big and the scammers get called out and are never forgotten!

freestyle07

jr. member

Activity: 100

Merit: 1

I believe the projects are using KYC as a ploy to not payout after bounty hunters have already done the work. I see more and more of these surprise KYC requirements after the work is done. This is clearly being done to seize the funds of the bounty hunters who are not willing to give personal data to god knows who.

Very clever trick. They are trying to use us then ask for requirements which go directly against the movement.

Topic: The KYC scam - page 5. (Read 725 times)