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Author Topic: Team also needs to pass KYC  (Read 908 times)
Dacosta Osei-Tutu
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March 27, 2019, 01:43:59 PM
 #1

 Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
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March 27, 2019, 01:55:52 PM
 #2

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?

What do you also think? I think why are you complain here, is anyone listen to the feeling of injustice that you feel?
It's better to avoid project that associated with the Kyc system. I think it's better for you.

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March 27, 2019, 02:15:05 PM
Merited by tk808 (1)
 #3

KYC stands for Know Your Customer it implemented only for all the investors of the project in order to know their credibility as an investor and make sure that the money their going to invest is not from illegal activities or money laundering.

For what I've known there are 2 reasons why KYC is implemented on the bounties:
1. To control the greed bounty hunters who uses different altcoin to abuse the campaign
2. To steal your Identity (Identity theft)

And for your topic which is team needs to pass KYC... and where are they going to conduct their KYC test? the thing here is that the investor and everyone of us should study the project first and don't easily give our personal information.

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March 27, 2019, 02:17:00 PM
 #4

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?

As such that there is a logic to what you said but regarding the team show themselves in their project and pictures during their road show except those trips , faces and pictures are fake, we never can tell too.

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March 27, 2019, 02:21:36 PM
 #5

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?

Thank you for again bringing this topic to life. Almost one year ago I said the same thing. The scam opportunity is not just limited to money. The ICO owners can even sell out your KYC documents at a very good price. Read it here,

https://bitcointalk.org/index.php?topic=2946614.0

Also the remediation plan needs to be well thought. Even if the ICO owners publishes their KYC documents in their website, how are you going to validate that?? Just try searching in Google playstore and you will find more than 20 apps that can help you to generate fake KYC documents. So there's no way to validate the authenticity of those KYC documents uploaded in the website either! If a scammer wants to scam, they can find hell lot of ways to do that!

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March 27, 2019, 02:29:43 PM
 #6

Team who are not dcared to post their real Identity have chance that project is not scam because once they do not gpod or any mistakes their name will be report and post in online for sure.  But I think too also they need the team to pass their KYC for fairness.
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March 27, 2019, 02:34:31 PM
 #7

I think it’s a complicated situation bounty hunters can do little about
and I think teams do complete kyc too when it comes to listing on the big exchanges, and also on ico rating sites

While few projects get whitelisted by their countries too; before anything
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March 27, 2019, 02:38:59 PM
 #8

Many ICO investigator and review sites has been demanding this. And some of them are actually verifying their identity and opening up in interactions on real life events while most of them are hiding in disguise. Though we can't just generalize it with success or failure of project, but it would certainly make the team more credible and responsible.

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March 27, 2019, 02:46:57 PM
 #9

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?

They should and it's a must because they are the one getting the money, I don't trust and tagged as a scam ICO that failed to prove their identity and photoshopped their team, we have seen that happens so many times check the scam thread so many ICO with fake team profile.

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March 27, 2019, 02:51:55 PM
 #10

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
Why do the team behind the project needs to pass KYC when they are not the customer? You need to understand KYC more, proceed here.

KYC is not the term for you to say in here, rather they should give their personal information that can be of a valuable holdings for those investors. Yes, there were lots of scams I think it's time for them to give what is right for us. All they do is scamming all of us after their ICO.
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March 27, 2019, 02:57:05 PM
 #11

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?

Thank you for again bringing this topic to life. Almost one year ago I said the same thing. The scam opportunity is not just limited to money. The ICO owners can even sell out your KYC documents at a very good price. Read it here,

https://bitcointalk.org/index.php?topic=2946614.0

Also the remediation plan needs to be well thought. Even if the ICO owners publishes their KYC documents in their website, how are you going to validate that?? Just try searching in Google playstore and you will find more than 20 apps that can help you to generate fake KYC documents. So there's no way to validate the authenticity of those KYC documents uploaded in the website either! If a scammer wants to scam, they can find hell lot of ways to do that!


KYC for bounty hunters aren't good decision.  It is now being used by some greedy team who abuse bounty hunters document. It is our risk to do kyc as a bounty hunter. Team of some projects flew away after collecting money from ICO and they become inactive, their tokens value damaged after seeing their greedy activities.
Another system should be stopped to show email id in the spreadsheet. It is also dangerous for our safety. Recently my blockchaing id has been by fake email. I have used my email in the few bounties, and the hacker take my email from the spreadsheet and my details.
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March 27, 2019, 03:00:33 PM
 #12

actually what you are suggesting is good but no project is carrying out this system because they are in control of the rules My advice to be more careful about investing in ICO

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March 27, 2019, 03:01:13 PM
 #13

The team are expected to be certified. You have a good point but the question is, who will verify the kyc? Where will they submit the kyc? Unless we see the team on places like icobench where they have to pass kyc to increase its ratting

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March 27, 2019, 03:58:27 PM
Last edit: March 27, 2019, 04:11:34 PM by ccsang
 #14

Quote
team also need to pass kyc and publish it on website
I think it's useless because how do we know that the document is real or fake, check ICO ratings website, some project display pass ICO KYC Report, but it's doesn't help us identify the authenticity.

Quote
Another system should be stopped to show email id in the spreadsheet
It's bounty manager fault, they don't hidden the email column, better don't use our main email to register bounty campaign because people always send spam/scam/fake email to us.
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March 27, 2019, 04:04:53 PM
 #15

Another system should be stopped to show email id in the spreadsheet. It is also dangerous for our safety. Recently my blockchaing id has been by fake email. I have used my email in the few bounties, and the hacker take my email from the spreadsheet and my details.
I really agree with you, but most of the bounty managers don't listen to it and I see some projects still show emails in spreadsheets.and I suggest that you are careful with the email you are using or you should use another email to register bounty



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March 27, 2019, 04:20:21 PM
 #16

Maybe they don't need full kyc like holding their passports and taking a selfie (which is also a bs for us too) but they should Show temselves on lots of places. Not just pictures on social media.

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March 27, 2019, 04:29:33 PM
 #17

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
KYC verification for team members can only be possible if there is a cryptocurrency body or authority in place to verify them. If the team  members are allowed to verify themselves, they will surely put false information on their websites.

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March 27, 2019, 04:29:35 PM
 #18

Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
I hardly think that this would be a possible solution because KYC of the investors is done by the project team. So who do you think will be eligible to validate the KYC details of the team?
It can't be the investors since there will be so many investors and it would be hard for everybody to validate the KYC. It can't be a third party since  it can be easily corrupted.
Hence KYC of the team would not be an appropriate thing. It's better if we avoid any such investments where KYC is mandatory.

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March 27, 2019, 04:33:29 PM
 #19

This is just crazy mate, they would be verifying their own identity. You expect them to say "this is me" while looking at their own selfie?
It would not be called KYC, maybe KYT (Know Your Team)  Grin

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March 27, 2019, 04:43:50 PM
 #20

It quiet funny but there is an element of truth in what you are saying. They check others to find out whether they are genuine or not which is not bad  but my worry is who watches the watch dog  Smiley?. There need to be a system for them the watch dog.

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