Bitcoin Forum

LoMoStar’s security will receive a massive upgrade!!

LoMoStar being the world’s first multi-currency,
 peer to peer trading, innovative cryptocurrency red envelope 
airdrops and all-in-one social networking platform, 
is committed to protecting users’ property safely.

On 19 March (Beijing Time, GMT +8),
 we will release an important update regarding
 the security of our user’s assets and provide an updated KYC function.

The content of this update:

●The new KYC function is divided into two levels:
 ‘Basic Authentication” and “Enhanced Authentication”.
 With each level of authentication, users can unlock different functions and permissions.

●You must first pass “Basic Authentication” before you can pass “Enhanced Authentication”

●Basic Authentication

a.Users will be need to provide
 the type of document they hold and
 the corresponding name and documentation number.

b.The system will record the authentication information.
 Users may not duplicate the information onto
 another account and may not modify the authentication information once submitted

●Enhanced Authentication

a.Users will be required to provide a photo holding the relevant document with a signature.

b.The system will conduct an audit to verify it 
with the information provided in Basic 
Authentication to ensure a match and thereby improve the veracity of the Enhanced Authentication. Once the audit is passed, Enhanced Authentication will be approved. If not, the authentication will be rejected.

c.Users may only resubmit the information once 
the system has rejected the information provided.

KYC level description:

●Users who have not completed any KYC certification are treated as KYC Lv 0

●Once the basic authentication information is successfully submitted, user is promoted to KYC Lv 1

●Once user passed the enhanced certification,
 user is promoted to KYC Lv 2

●After completing the Enhanced Authentication process, information provided in both Basic
 and Enhanced Authentication will not be modified

●KYC level is upgraded sequentially (first Basic Authentication then Enhanced Authentication), and it is irreversible