Why We Must Take KYC and Our ID Seriously ,Protecting ourself from criminals...

[Donk1]

  Greetings my felow Nigerian folks Well I am sure there are several threads on security and how to protect ourselves from hackers  or scamers.  But regardless of the situation, it is very certain that we need to always prioritize our safety and security first  because na who dey alive dey find money . as a Nigerian Bitcoin  investor it is to certain that we have to continue to keep anything concerning our identity documents private for example, our NIN, driver's license, passport  and most especially our KYC Know Your Customer. Because I am sure we are all aware that the moment anyone submit their KYC to any  exchqnge or a crypto platform immedilately  you do that they will have possession of your personal information .and God forbid that company's server got breached by hackers they will be able to just collect anyone's documents. If possible they can just start selling it on dark web and when that happens the people's ID will be leaked online. Both scammers, thieves, kidnappers, all of them will start targeeting anyone whose information was leaked. In fact It's easy to say they will now know who you are and where you are trading which  means even the the persons life is now at stake.......However apart from that let's not forget that once they gain  a person KYC most of these scammers and so on can use  it for illegal stuff like money laundering. and when the EFCC wants to trace they will trace it back to the real owner and with the looks of it all charges will be on the person that  they they found his or her name in the illegal transaction... That's why  we must always confirm check, observe, protect, secure, keep our financial documents with  only trusted, well known crypto platforms that have  better security , even at that, never leave your bitcoin in an exchange  always withdraw it immediately  to a non custodian  wallet where you are the one in control That being said always enable a 2Fa two factor authentication and use unique password for qulity security.........


This image is just an example of the vulnerability of most of these platforms.

Check out this link for the complete information: https://www.google.com/amp/s/forklog.com/en/kyc-data-breaches-fuel-rise-in-attacks-on-crypto-investors/amp/


Furthermore  my pipo it's easy to say we have to shine our eyes Don't  be too quick to submit your KYC always check and confirm  if the platform  is truly trustworthy   am sure we all know that we should  never share our private keys, password, and our verification  codes to anyone not even customer service because most of them are just scammers trying to trick someone to  fall for it. Lastlly always confirm any link that is  asking for your ID is a real company website and not a fake one. That's just it ..............
Check out this link: Leaked KYC Data Is Putting Bitcoiners in Real Danger: Kidnappings, Hacks and Violent Attacks Surge
https://www.ccn.com/education/crypto/leaked-kyc-data-bitcoin-criminal-targets/

[Karl_3000]

It is good to protect our personal data but it is not data leak that caused some people to be kidnapped, some people revealed themselves online and to the world that they have crypto and they got attacked.

[Jubilee58]

 Greetings my felow Nigerian folks Well I am sure there are several threads on security and how to protect ourselves from hackers  or scamers.  But regardless of the situation, it is very certain that we need to always prioritize our safety and security first  because na who dey alive dey find money . as a Nigerian Bitcoin  investor it is to certain that we have to continue to keep anything concerning our identity documents private for example, our NIN, driver's license, passport  and most especially our KYC Know Your Customer. Because I am sure we are all aware that the moment anyone submit their KYC to any  exchqnge or a crypto platform immedilately  you do that they will have possession of your personal information .and God forbid that company's server got breached by hackers they will be able to just collect anyone's documents. If possible they can just start selling it on dark web and when that happens the people's ID will be leaked online. Both scammers, thieves, kidnappers, all of them will start targeeting anyone whose information was leaked. In fact It's easy to say they will now know who you are and where you are trading which  means even the the persons life is now at stake.......However apart from that let's not forget that once they gain  a person KYC most of these scammers and so on can use  it for illegal stuff like money laundering. and when the EFCC wants to trace they will trace it back to the real owner and with the looks of it all charges will be on the person that  they they found his or her name in the illegal transaction... That's why  we must always confirm check, observe, protect, secure, keep our financial documents with  only trusted, well known crypto platforms that have  better security , even at that, never leave your bitcoin in an exchange  always withdraw it immediately  to a non custodian  wallet where you are the one in control That being said always enable a 2Fa two factor authentication and use unique password for qulity security.........


This image is just an example of the vulnerability of most of these platforms.

Check out this link for the complete information: https://www.google.com/amp/s/forklog.com/en/kyc-data-breaches-fuel-rise-in-attacks-on-crypto-investors/amp/


Furthermore  my pipo it's easy to say we have to shine our eyes Don't  be too quick to submit your KYC always check and confirm  if the platform  is truly trustworthy   am sure we all know that we should  never share our private keys, password, and our verification  codes to anyone not even customer service because most of them are just scammers trying to trick someone to  fall for it. Lastlly always confirm any link that is  asking for your ID is a real company website and not a fake one. That's just it ..............
Check out this link: Leaked KYC Data Is Putting Bitcoiners in Real Danger: Kidnappings, Hacks and Violent Attacks Surge
https://www.ccn.com/education/crypto/leaked-kyc-data-bitcoin-criminal-targets/

Enabling your KYC and user ID in an exchange is very much important , because any account without KYC and user ID verification remains succestible to attackers and scammers, and of what value will it be, if the security of your account is being compromised because of KYC and user ID verification.

When you enable your KYC and user ID in a cryptocurrency exchange, it shows some level of trust and transparency, you are telling the exchange that you are their for real business and not for fraudulent activities.

When you enable your KYC and ID verification in an exchange, the exchange will be out to checkmate your account from time to time to ensure that your account is safe and secured.

As a cryptocurrency enthusiast or investor , ensure you very your identity and authenticate your KYC, it is for your own good and advantage, and exchanges does not charge any money for your KYC and identity verification, it is free of charge, and only require your personal data to authenticate it.

[CryptoGirl_200x]

As much as I agree with everything you have said @op, let me still say that one can't actually make use of any centralised crypto today without first passing kyc verification, and when or if we talk about using platforms that are secure, how can an ordinary users know this when all the top exchange platforms has at a time experienced a security breach that saw them losing both customers kyc data and money..
Binance which is currently the worlds largest exchange by trading volume has gone through a security breach before..
Bybit, which many consider as the second largest has also experienced a security breach before..
Talk about Coinbase, I believe I don't need to include this one since it's already there in the op... This leaves many of us asking questions like "which exchange platform can we trust 100% to be very tight on security?"

Thing is, if you are someone who don't ever want to your personal id in the hands of unknown people, then simply avoid centralised platforms and go with decentralised platforms where no one will ever ask you to submit id for account kyc verification, but also know that everything comes with a prize, you are going to miss out on a number of opportunities trading only on decentralised exchanges.

[Lida93]

As much as I agree with everything you have said @op, let me still say that one can't actually make use of any centralised crypto today without first passing kyc verification, and when or if we talk about using platforms that are secure, how can an ordinary users know this when all the top exchange platforms has at a time experienced a security breach that saw them losing both customers kyc data and money..

In the very mom you make use of a centralized platform and by request on KYC which you have it submitted, from that very moment moving forward just consider yourself data unsafe because sooner or later some  centralized exchanges or whatever platform it is would one day get cracked in or breached resulti to exposure of some sensitive informations of customers which yours and mine might be included.

[Fiatless]

Thank you for your advice.  Security matters should be discussed consistently to remind us not to lose guard because scammers are seeking any loophole to take advantage of our finances.

But note that no centralised platform is immune to hacks. They might have the best security setup, but an insider can compromise the system. Scammers or hackers develop new strategies every day, so there might be a new threat which could bypass the security or the platform. Any document you don't want to be in the public domain, don't use it for KYC because anything can happen.

[nelson4lov]

Data breaches will forever be a thing because in life, no system is ever hack-free no matter how strong the security is. Most of these centralized services require us to KYC one way or another. You can't even say you're a citizen of this country without actually doxxing even your street address to banks. I think it's inevitable and we live under the mercy of the current security systems in place while we await better approaches to safe guard our identities that doesn't require us doxxing to banks, crypto exchanges, etc.

Might be a good time to get new tech that allows all our data to be in our DNA similar to how we can use passkeys. What I mean is, we can prove our identity without actually doxxing ourselves directly with our KYC documents because what happens is that those documents might get breached later and it is outside our control as users of banks and centralized services.

[ScienceStudent]

As soon as you give your data to a third party just know that it can be leaked to scammers and criminals. The only way we can secure our data is when we have them in our custody but it's just unfortunate that we cannot completely do financial transactions online without KYC verification because looking at it from another perspective, without KYC the rate of scamming would have even become higher because people will not be afraid since they know that their personal details are not revealed. Our data even start being exposed immediately our IP addresses are known because that is the first breach of privacy since you can be tracked using your IP address.

[Hardyrobust]

 Greetings my felow Nigerian folks Well I am sure there are several threads on security and how to protect ourselves from hackers  or scamers.  But regardless of the situation, it is very certain that we need to always prioritize our safety and security first  because na who dey alive dey find money . as a Nigerian Bitcoin  investor it is to certain that we have to continue to keep anything concerning our identity documents private for example, our NIN, driver's license, passport  and most especially our KYC Know Your Customer. Because I am sure we are all aware that the moment anyone submit their KYC to any  exchqnge or a crypto platform immedilately  you do that they will have possession of your personal information .and God forbid that company's server got breached by hackers they will be able to just collect anyone's documents. If possible they can just start selling it on dark web and when that happens the people's ID will be leaked online. Both scammers, thieves, kidnappers, all of them will start targeeting anyone whose information was leaked. In fact It's easy to say they will now know who you are and where you are trading which  means even the the persons life is now at stake.......However apart from that let's not forget that once they gain  a person KYC most of these scammers and so on can use  it for illegal stuff like money laundering. and when the EFCC wants to trace they will trace it back to the real owner and with the looks of it all charges will be on the person that  they they found his or her name in the illegal transaction... That's why  we must always confirm check, observe, protect, secure, keep our financial documents with  only trusted, well known crypto platforms that have  better security , even at that, never leave your bitcoin in an exchange  always withdraw it immediately  to a non custodian  wallet where you are the one in control That being said always enable a 2Fa two factor authentication and use unique password for qulity security.........



Furthermore  my pipo it's easy to say we have to shine our eyes Don't  be too quick to submit your KYC always check and confirm  if the platform  is truly trustworthy   am sure we all know that we should  never share our private keys, password, and our verification  codes to anyone not even customer service because most of them are just scammers trying to trick someone to  fall for it. Lastlly always confirm any link that is  asking for your ID is a real company website and not a fake one. That's just it ..............
Check out this link: Leaked KYC Data Is Putting Bitcoiners in Real Danger: Kidnappings, Hacks and Violent Attacks Surge
https://www.ccn.com/education/crypto/leaked-kyc-data-bitcoin-criminal-targets/

Among all the things wey u talk for here na this one enter me pass which is not to keep ones bitcoin in an exchange. This one of the mistake most people made . Leaving one coin in a custodial wallet is a big mistake and this has lead some person into losing their hard coin. The issue of kyc , I don't really see it much as a problem because if any company should leak any of your documents you have the right to sue them and they be mandated to pay you for breach of privacy or for leaking

[Yablee0]

Op your topic is cool and amazing, we should be very careful and extra sensitive the way we submit our information on line because that alone can ruin our entire life, their are scammers, frauders everywhere. So it is mandatory for one to make proper verification before endorsing in all those online kyc sh**to otherwise you will just earn your self some trouble you know nothing about.

Exchange are now everywhere on the internet space, scammers are now hiding behind the scenes looking for who to climb on,  so it crucial you are aware of their strategies so you wouldn't be a victim.

[CryptoHeadlineNews]

It is good to protect our personal data but it is not data leak that caused some people to be kidnapped, some people revealed themselves online and to the world that they have crypto and they got attacked.

Yes, you are absolutely right on what you just said above, because to be frankly speaking, most people seems not to understand the importance of staying anonymous even when you have lots of money or Bitcoin in their possession. And because of that single act, many have lost their funds to criminals who knew about their money or investment in Bitcoin. Because until people start to act and behave like Satoshi Nakamoto who never made himself known to the public, despite having the largest number of Bitcoin, they will continue standing the risk of getting rob or kidnapped. Hence, it's best to not let anybody know your worth.

[Realwhot]

Some people lost their kyc data to scammers and hackers because they are not well informed and because some of them are quick to do kyc. Some site people do kyc with are fake and some are not registered by the government and so they can use those data to try to scan them sometimes.
Some sell those data to hackers and other scammers that use them to do illegal things that can lend the person in prison.

[Dr.Bitcoin_Strange]

There's a saying from a known user on this forum that, "once your personal information have been submitted online to any platform, consider it unsecured. " It doesn't matter if the exchange or casino that ask for your KYC are reputable platforms but once you submit your personal details to them, it's not 100% secured as when you are only in possession of it. So, the truth is that KYC is a risk for us but people many people are ignorant about it.

[Youngrebel]

We can safeguard our information by not using anyhow exchange online and only use the popular ones we know because government can sponsor some kind exchange and make the rate high to attract people and making people to register there and they will be collecting people data from there but is Nigeria government interested on that for now? Op if hackers breached any exchange there will not be interested for people information but the coins in the exchange will be their first target and that has happened to bybit this year. We are not the developers but users so we can only be careful when registering in a website or app.