KYC Data leak

[r95222]

Judging by the comments, those projects that introduce KYC seriously reduce the number of their potential participants.

This has its advantages... The number of bounty hunters has greatly increased in recent years. And about the vulnerability: identity theft is not the worst thing that could happen.

Some investors not see in KYC nothing illegal. And they can don't understand all dangerous for their docs. But I always surprise which goal of KYC for bounty? We do not pay nay money that can be 'dirty'. But why??

It doesn't matter if it's illegal or not. The most important is that all the data you give is going to a database. Who know what happen with this database after that. Who is going to buy it and is going to use it for?

It's so. But illegal or looks legal is important how ordinary investor makes a decision. You are not in the darkweb. All projects looks clear and promising. That's why KYC looks as ordinary procedure

[ololajulo]

Now that some of these ICOs had been careless or they were even the scammer themselves. What are the possible ways in which the details can be use wrongly. I wish if the ICO company that leaked the data is known they should list the names of probable any victims and give any top security official so as to be protect the victim if any criminal case arises.

[rps_rado]

A little creepy for me given how many KYC I've sent out for various ICO projects

[thatkid1]

Scary, Hope these ICO's will become more conscious while handling the data.

[Rizwan Javed]

Nobody is actually aware who is handling this crypto world. So whatever KYC investors are providing to this unknown world will always leave a question mark in their  mind. No judgment is valid till people really faces their data leak problem.

[muhdatha]

Judging by the comments, those projects that introduce KYC seriously reduce the number of their potential participants.

This has its advantages... The number of bounty hunters has greatly increased in recent years. And about the vulnerability: identity theft is not the worst thing that could happen.

Exactly. It's the easiest way for bad guys to get your ID - to do the KYC procedure.
No kickback for bank manager or receptionist ... just a few days and thousands bountists have to give you their IDs 

[hastag_80]

And this is how your passports get on the dark web.

https://thenextweb.com/hardfork/2018/02/07/sentinel-chain-ico-leak-passport/

Will,no matter this KYC data leak is true or not,the main reason here being anonymously of a person is become identified,due to some new regulation now happen in doing investment in cryptocurrency system,thats why sometimes this things would make a threats to our personality in danger,or our information being submitted in kyc can be used in illegall activities,therefore we hope that this kind of implementation is tolerable.

[nguyenkhanhhung14]

Sometime your identity leaked out just because you invested in a scam project required KYC, your identity also can be leaked out when you invested in a truthworthy ICO project cause hacker often choose truthworthy and good ICO project to hack cause they know these project often invested by rich guys and they just want to steal identity from these guys with so many purpose like steal bank account or something like that.

[Koobtcgal]

This whole issue with kyc has an agenda I guess. Why will something built on anonymity now request identity of members before allowing them participate in sales and even bounties. For me I will give a second thought to projects of such sort.

[rezurect]

And this is how your passports get on the dark web.

https://thenextweb.com/hardfork/2018/02/07/sentinel-chain-ico-leak-passport/

Kind of sad for the people who will get into many problems because of a stolen identity, but on the other hand I can't feel too bad for them.

[wantjokull]

As far as I know, the fulfillment of the requirement of passing the KYC procedure is mandatory only for companies and investors from the United States. In addition, bounty hunters should not pass KYC at all.

I disagree with you. That is not the fuel written anywhere. Now a days if you have to get your ass on the ICO boat then you have to get your KYC Verified before your can enrol into it. Also, this is valid for all the countries and not just the united states. Who said to you that it's just about that country ? I am from India and I need to verify KYC in each ICO that I'm getting enrolled into.

Also most of the big ICO will not even entertain you at the time of presale if you are not verified on the whitelist.

About the data leak, already commented how disturbing that is.

[Noobaru]

And this is how your passports get on the dark web.

https://thenextweb.com/hardfork/2018/02/07/sentinel-chain-ico-leak-passport/

Companies shouldn't ask for people tot do a KYC process because it's cryptocurrency. If the just proceed with the project normally then they would have a better outcome.

The problem arises, when someone that did not do KYC, turns out to be a terrorist or wants to launder money (there exist AML laws for that). Now, I am not a fan of KYC, because of crypto being anonymous idea as you stated, but I don't see any other way at the moment. In the future, if ICO companies are willing to regulate crypto community with KYC, they should have stronger security measures and ICO participants should be protected with laws that would advise ICOs against selling their data. Right now, there is only some internet form that we have to fill in with our data and send screenshot of our ID. That is not enough and ICO companies should not get away with that!

[parkraol]

I experienced the same situation, I did not go through unless I knew and I was confident. It is difficult to trust when asking for personal data including passports and a third party involved. How can we be sure that this transaction is safe and will not sell or own my personal information? Minimal information would be accepted for me. But when asking for more IDs I do not continue the registration.

[Pierre 2]

Wow really this is one of the WORST news I have ever read, since I am becoming fellow crypto fanatic.
These type of things, shouldn't be repeated, let alone that, shouldn't ever happened in first place. Stay safe folks.

[smutexar]

Hey. I agree with you. And some projects, first forced to go through this procedure bounty participants, and then do not pay tokens at all. The first is the earnings due to fraud bounty hunter, second earnings, it is selling passports to bounty hunter. Such people should be put in prison.

[rafajunior99]

As far as I know, the fulfillment of the requirement of passing the KYC procedure is mandatory only for companies and investors from the United States. In addition, bounty hunters should not pass KYC at all.

Well, I also had time to think like that, why the prize hunters have to do the KYC procedure, which I experienced since I became a prize hunter did not have to use KYC to get the prize from the campaign, and I still do not understand until now what is the reason they asked KYC with all gift hunters.

[Aniwura]

This is more reason i do not like giving out my personal data. Imagine, the project has good intention, but it is unfortunate that the data of its customers are being leaked out without their knowledge. I think, if it is mandatory for ICOs to get their users or customers registered through KYC. It will be pertinent for them to ensure that there is adequate security that will enable the data of their customers to be full protected.

[Mister1k]

As far as I know, the fulfillment of the requirement of passing the KYC procedure is mandatory only for companies and investors from the United States. In addition, bounty hunters should not pass KYC at all.

Well, I also had time to think like that, why the prize hunters have to do the KYC procedure, which I experienced since I became a prize hunter did not have to use KYC to get the prize from the campaign, and I still do not understand until now what is the reason they asked KYC with all gift hunters.

For campaigning they do not need the KYC details as a requirement to distribute the tokens mate. I advice you to try on airdrops there you will find the KYC details has been asked there if you participate on signature campaign on any bounties they will not require the KYC details.
Mostof the ERC20 tokens projects would no asked the this details. KYC has been asked by the independent or private network blockchain mostly expect this.

[lapofberik]

No one can guarantee the security of your personal data, and no one will be responsible for their loss. KYC - the worst thing that happens with cryptography in recent years and contradicts the idea of crypto-currencies.

[Youngflydude256]

This is scary. Imagine uploading your personal details online and it ends on the deepweb. icos should ensure the protection , safety and privacy of our personal data because if leaked , it can be used to incriminate innocent people in a crime they know nothing about.