The KYC scam

[BillCoin]

Only banks need your KYC. Giving your local bank your KYC is safe because you are protected by law and the bank must protect your personal info because if it ever leaks it will destroy their name. With ICO they are not a bank and no one is protected by any law. ICO are run by ordinary people and they do not need to know our info. Almost all of them are not even registered as a company, to begin with so you could be giving your personal info to a criminal.

All someone needs to do is make fake ICOs and start farming peoples personal info and stealing their identity,

It is all fine and well to give your person info online till one day you find out there are loans taken under your name and you are blacklisted because of it.

What if someone commits a serious crime under your name or extorts you?

Think people !! Protect your self and never give your identity to anyone especially online. If you cant meet the person or a representative face to face then stay away. Identity theft is a huge issue and criminals steal lots of money. Your identity is worth a lot of money.

Under what authority do they ask for KYC??
I want the KYC of the ICO members!!

Name and shame ICO that ask bounty hunters for KYC!!
Esspecially if the bounty has a surprise KYC at the end then label them as a scam.

So far I have found HADE network

Stay away from hade network they ask KYC after work only.

Let us please start a thread to name and shame KYC scammers.

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.  

ICOs with KYC verifications are just obeying the SEC's decision not to accept U.S citizens from their ICOs because they are prohibited from joining any of these,but it doesnt mean that these ICOs are scam,i know the risk of sending IDs to these ICOs but it will lessen the chance of being scammed by these ICOs because most of the successful ICOs today requries KYC verifications.

Bullshit. It is up to the indivedual to know what country they are from. If you are American you sign an agreement before you enter the bounty that clearly states you are aware that US citizens are not allowed. These places are not banks and have no legal bearing. They have no right to demand KYC from anyone.

The KYC is not for banks at most of the countries, the KYC is being transferred to the local banks but thet are not using it,they act like gates, the banks transfer the KYC documents to the local governments, which usually are going to track you for tax purposes, and if you are planning on hiding incomes, you are going to be in troubles.
Entering an ICO means that you are getting protected from the government, as the ICO organizers can't run away with your money, but on the other hand, you are getting revealed and you are now being tracked by your local tax enforcement.
If the ICO worth it ,then it shouldn't be the thing that stops you, but being on the radar is never good for anyone.

[ceyceyki]

I think KYC is against crytıcurrency concepts. Why should I give my information? Why do we use crytocurrencies in real life. Because we want to be anonymous. I dont like KYC. And if they ask after bounty I would write negative comments about their project.

[svojoe]

I think KYC is against crytıcurrency concepts. Why should I give my information? Why do we use crytocurrencies in real life. Because we want to be anonymous. I dont like KYC. And if they ask after bounty I would write negative comments about their project.

Fully agree! I hate this kind of tricks as well as any other changes of requirements during the campaign. I don't see any reason to set KYC for bounty participants especially after the work is properly done.

[Machine Funk]

~snip~

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

Most of these ICO are just a small group of random people. They don't hand in any KYC to any banks if you believe that you are very naive.
You are resposible to report your own income for tax purposes. So if dor exacmple you have lots of money goinf through your bank account or buy an expensive car out of the blue the goverment can ask how you can afford it and if you can't say how you are in trouble. The government doesn't run after people they don't have time. You must report your own income. Do you sign a KYC when you buy a product?? Do you need a KYC for buying gold?? No..
Crypto is a private virtual item and any item you choose can be used to pay someone for something. They don't need KYC for it. When someone pays you at your business for a cup of coffee at your coffee shop do you ask people for KYC ?? NO!! Because you are repsonisble to report how much coffee you sold and the operation over heads and other costs, they don't need to know where you get your coffee or anything like that because it is none of their business.
Every business expense you must record and you must record the profits so at the end of the year when you fill your tax form you can justify your costs and calculate the income bracket you belong in.

If you are paid in crypto noone needs to know about it. Just like any other work you do online you must record it for the year end taxs. When you get paid to promote a company and get paid in paypal or in cash or a bank deposit do they ask for your KYC ? No...

Have you ever filed a tax report? Most people don't seem to understand the law. The bitcoin holders are very pussy cat scared of the government and its pretty pathetic. If you can't handle it don't be involved in crypto.

If you get paid in crypto and do not report your payments you will get into trouble.

Oh and by the way dude yes KYC is for banks and ISP and cellphone companies.

[rezurect]

I think KYC is against crytıcurrency concepts. Why should I give my information? Why do we use crytocurrencies in real life. Because we want to be anonymous. I dont like KYC. And if they ask after bounty I would write negative comments about their project.

It's almost infuriating to see people say "kyc is normal now". I'm with the other guy I'm going back to fiat and banks if things are going to get out of hand.

[fommes86]

I think KYC is against crytıcurrency concepts. Why should I give my information? Why do we use crytocurrencies in real life. Because we want to be anonymous. I dont like KYC. And if they ask after bounty I would write negative comments about their project.

Fully agree! I hate this kind of tricks as well as any other changes of requirements during the campaign. I don't see any reason to set KYC for bounty participants especially after the work is properly done.

Western governments don't want to loose grip on their citizens/taxpayers, that is the reason for KYC. We have to live with that. I just wonder, if my government will track the countless Airdrops I signed up for 

[Serg33vnik]

You are absolutely right, KYC does not guarantee that the tokens will be paid, you should admit it.  In addition, attackers can easily use the personal data of the participants it is terrible

[Benarand]

If the project has no thought to deceive investors, then passing KYC will be safe.

[basici]

law enforcement must regulate projects that require identity verification because it is against human rights. we do the work and still have to provide our data

[Yaunfitda]

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'm not sure about that as well. I wanted to think that KYC should be implemented at the beginning of the ICO and not after. Bounty hunters should be aware in the beginning to say the least to not doubt the project itself.

But looking at the last hundreds of ICO's that's been popping around, the issue started when the distribution of bounty started, they're enforcing KYC but at the back of my mind its not the reason why they don't want to pay the bounty hunters, maybe there's other reasons that really deemed KYC is needed.

[Go jack1]

be careful in using kyc, because at this time there are so many fake projects hanging around, don't let your kyc be misused by irresponsible people and hopefully we all succeed

[ichai]

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. 

Indeed, we are the most disadvantaged. When we lose our information, we lose important things. They can sell our information to anyone and they will use our information to do bad things. That is why I am very concerned about the implementation of KYC. Can we create a movement against KYC?

[DominickA86]

To do KYC for bounty programme is a regular thing. As a bounty hunter, I do not want to share my rewards with someone who is dishonest with other hunters or bounty manager. Be polite and do not try to tick the system.

[billy.ryoko]

I don't know why the bounty hunter need the KYC to receive your reward, KYC is known your customer, but I am not the investors, I am the supporter or promoter about the project, no sense to provide your personal data to receive the few money, or the scam coins.

[kiemnhieutien]

I agree that there are many project abused KYC to scam bounty hunters by requiring KYC after the campaign finished. To prevent this, i only join bounty campaigns which have clearly rule about KYC for bounty hunters, they must specify that KYC is required or not required at the beginning of the campaign.

[DeKingCrypto]

People really needs to be careful these days, there are a lot of scam happening in cryptocurrency now and so many people has been victim of these scams. God help us.

[rozak]

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. 

may be. KYC is used as a condition for participating in a project, but not all projects use KYC. KYC's goals may be good, that is to discipline and maybe there are shortcomings that must be addressed by KYC so that users are more comfortable.

[HoryouToken]

`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.`

Wow, i think it`s no too good. they do it to know their customers well.
if you are a real person and have nothing to hide, what is a problem for you to pass KYC? it takes only few min, but gives safety!   

[george_hured]

The KYC process today is beneficial only for developers, you understand that they can sell your data, so I wouldn’t have said it if you didn’t have serious doubts that today greatly violate the security of your data

[Fritz93]

I completely agree, this is really a problem. However, today I see that many companies have begun to warn about the need for verification. For example, all the bounties that Amazix conducts immediately warn about passing KYC