KYC scams

[milah_ah]

In my opinion, we have a choice. Provide or not provide documents. I try to bypass such projects side.

[PAKYU]

i do 100+ kyc in my crypto life. this is too late for me now. who knows maybe they use for good things. i am not afraid

[3x2]

i do 100+ kyc in my crypto life. this is too late for me now. who knows maybe they use for good things. i am not afraid

You are not afraid?? Wow this is some top notch confidence that you have.
Scammy icos collect your KYC and will fill the airdrop with yours KYC to claim tokens. Example assume that a person have 12000 KYC collected from scammy ICO then he can claim Tokens from a legit ICO.
Assuming the price of tokens that you get is as low as 10$ then 1.2 Mil is the amount that the scammer will get.
Moreover Your Info can be used at illegal places which could get you in trouble at some point of life.

[atamism]

Yes, I agree. Even though I am not an investor yet, I was always careful on bounties I joined. I make sure that the bounty doesn't need KYC. It will be a big problem if we become a victim of identity theft and it can even put us in jail if our identity was used for criminal activities. Being investigated by the police was never a good thing and it should not be experienced by everyone. If the reward is not that high for bounty that requires KYC, just pass on it rather than being a victim of identity theft.

[vebby]

Indeed we should should be able to be more careful in using the KYC. because this KYC more bizarre data field only. do not easily believe, because so far we don't know yet what exactly, is used for the data.

[3x2]

Indeed we should should be able to be more careful in using the KYC. because this KYC more bizarre data field only. do not easily believe, because so far we don't know yet what exactly, is used for the data.

KYC is just Know your customer, so when investing legit company wants to know from where the funds has come from,this is the soul purpose of KYC. but unfortunately some rouge people are using the info and selling it in wrong hands.

[starblocks]

Yes you must be very careful

Too many bad actors out there to provide your personal identification documents to just any project and it should only be required for investments over a certain amount not for something as insignificant as an airdrop

Find out as much as you can about the project to verify that it is legitimate before submitting anything

[SimonJones]

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. 

That's scary...Everything related to money needs KYC in our place . So, if this is the case, how can we proceed with our work  

[Sevarchik]

Very bad situation when you fill KYC and pass it, but dont get tokens.
KYC's can be filled by not real docs, and system cant detect it, because we filling it remotely, its one of the dark side of kyc in crypto

[chocopapaya]

I have only given out my ID, photo and passport for one ico that did kyc.
Nothing has happened, but that was the first and last time I did it.

I just don't ever want to run the risk of getting scammed or exploited.
Here in america, you can steal someone's id so easily and open up credit cards in that persons name.
It happens very frequently and I think you would be a fool to think that it is not serious.

I did mess around with the kyc a little bit, after all, it is pointless and unnecessary.
I managed to get whitelisted off of a passport photo page I got from the internet.
Google is a wonderful thing and it just goes to show how ridiculous this whole thing is.

[SabrinaBianka]

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. 

That is a good Idea, Almost a lot of people being victims of this kind of strategy to scammed us. I don't really imagine why the other people need to take advantage to make a bigger money. But they can work clean as green and earn more via wasting their time to a good work.

[akungagal]

Yes you must be very careful

Too many bad actors out there to provide your personal identification documents to just any project and it should only be required for investments over a certain amount not for something as insignificant as an airdrop

Find out as much as you can about the project to verify that it is legitimate before submitting anything

you are right,
indeed we have to find out more about the project before giving our identity. sometimes some of the projects are not clear, to be careful we should first trace the project.

if it's not so important you should avoid things like KYC filling.

[Benarand]

In the future, without passing kyc, we will not be able to participate in projects. And if you want to be part of the crypto-currency world, then we have to send your documents to confirm the identity. And there is already on whom you will get, an excellent project or scammers.

[audyearls]

and now there are also many ico projects that need kyc to complete the requirements if you want to use coins or tokens from ico, but you should be more careful in kyc, check more carefully about projects that require the kyc, if indeed the project is not convincing it's better not to do kyc because of the risk later if the personal data information will be misused.
but actually the aim of Kyc is good, that is to control and monitor for what the coin is used for, and so it is not used for negative things.

[tranquangvinh]

We should be careful with projects that require KYC, especially with new companies, why? Because cryptocurrency is anonymous, we do not need to provide our information to them, which is also the reason why cryptocurrency appears.

[wilberthh]

Yes this kind of matter is seriously annoying. As we know we're in the decentralized market (before) therefore I don't think sending stuff is a great idea, although it's a must for most ICO nowadays. We all wants privacy, anonymity, and secrecy.

Since this market is more or less regulated nowadays, I guess sending your information as a kyc to a project is something you have to risk. If you don't do it, you can't invest.
I think before you invest you should learn about the project's credibility and their transparency.

[Gekkoo]

This is a fact! There are people and where there are people, you can believe and distrust what you want! Of course, some projects will take advantage of this need for KYC before justice and governments to negotiate their personal data, it's a very lucrative market for Underworld! I only performed KYC in 4 exchanges until today!

[ishirut009]

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. 

i agree and in addiotion, not just because an ico company is asking for kyc does not really mean that they are not scam. Because sometimes there are people that view all ico's that asking kyc's legit. It is really scary to give your personal information because they can use that on illegal things. Be careful people, make sure you do your research before submitting any kyc to any company out there.

[robertsu]

KYC is not a prerequisite for success or image of good ICO. I have noticed that good ICO seem to take life by itself and become succesful because of sme factor that contribute to it's success. If an IICO project is needed and there is clear plan for  growth and development, such ICO will do well regardless!

I support you. Many ICO doing a KYC for residents of certain countries, or on the contrary, relieve the need doing KYC residents of a particular country. Such insurance against litigation with local law.

[anatolykarpov]

Even if they are not scam, we have seen some ICOs that hacked their KYC database. Not safe times for small investors.