Cryptocurrency, KYC and Terrorism

[erickastella]

Yes, I strongly agree, because using KYC against unclear projects will be very dangerous, especially the misuse of the data, if we want to do KYC in the project, make sure first that the serious project starts from the team, whitepaper, roadmap, and mission of the project so that nothing bad happens.

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[nasipadang]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

I was thinking about criminal acts and stolen identities, but so far I haven't heard anything similar to the method you shared. So far to do the KYC in the ICO project, it has never occurred to me, because the guarantee of personal information security is not available, even though they say the information will be safe. Be careful when submitting personal information, because personal information is very confidential.

[Oneandpure]

so many people sent their documents lightly, and someone took advantage of it.
My advice is first of all to trust only companies that meet the minimum security requirements, secondly if you suspect that you have sent documents to the wrong people, the first thing to do is immediately request a new document so as to avoid a fraudulent use (and subsequent problems)

Keep your document safe with KYC only trusted site like Binance exchange, Gate, Bittrex and Huobi exchange. For other exchange better you do not submit your KYC because you document sent to the wrong people and use it for bad thing, for investing with ICO you can join with your friend and ask him for submit his KYC and you give him money for investing on ICO without use your document.

[riso2015]

I do not have any problems with providing passport data and therefore I will not oppose the requirements of KYC.  I believe that the real openness of the cryptocurrency market and its users will make our world more secure, because the threat of terrorism is very strong.  No one accuses cryptocurrency of helping criminals, but any possibilities for criminals to use cryptocurrency should be avoided.

KYC really needs to be in crypto currency, but we must know and be careful who asks KYC for us,
if the company does not clearly and not strong ask KYC for you you, should not need to give it, because it is very risky to be traded on the dark web

That's right, give your KYC only to companies that are truly trusted and professional, so that the data we provide will be protected from misuse. For Airdrop required for KYC I personally will not provide it, you better keep your data if only to get shit tokens.

[Febo]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

Those that collect data are responsible to keep them secure. This has nothing to do with cryptocurrencies. There are way more important data then people finances. Health, police, governments.

[TRONTON]

some arguments say that's true, but I haven't seen authentic evidence. the biggest mode I think is that they are purely to enrich their own groups, so it's just a business problem that tends to be dirty, not to terrorist mode.

kyc and ico are indeed things that I disagree so far because the company's validity is questionable. But as it develops, many investors will choose a more valid IEO with an exchange that has high credibility. So people will also think twice about joining ico who looks awkward.

[atjiat]

If we look at the current situation on the cryptocurrency market and how any government of different countries relates to cryptocurrency, especially after the negative G7 report, then it seems to me that there is no point in giving your passport data to different companies that can’t carry out their activities on the cryptocurrency market, and  It is within the framework of the law in certain states.  I believe that the provision of KYC cryptocurrency by users should be in parallel with the full legalization of cryptocurrency.

[Vishnu.Reang]

Those that collect data are responsible to keep them secure. This has nothing to do with cryptocurrencies. There are way more important data then people finances. Health, police, governments.

Do you think that data regarding health, police.etc is more important than the financial data? I have to disagree with you there. Even if the health records are leaked, what will be the use for the hacker? How he is going to monetize that information? On the other hand, in case the financial information is leaked, it can be used for all sort of criminal activities.

[asus09]

Or you watch TV too much?

What you are saying is the terrorists create blockchain product, write a WP and set a website for an ICO. After collecting personal information from people they close the shop and go out to use identities' people?

If you prefer to live in a sphere with a currency controlled by authority controlling everything then you can always use your local money.

How come terrorism know with bitcoin and blockhcain, how they will cash out bitcoin assets become cash money without registered with bank account, terrorism will delist from bank member and they will never can get cash money from bank, with bitcoin you need bank account when you withdraw your bitcoin to be cash money, now stop saying bitcoin and terrorism have relationship with KYC document data.

[sirminesalot]

If we look at the current situation on the cryptocurrency market and how any government of different countries relates to cryptocurrency, especially after the negative G7 report, then it seems to me that there is no point in giving your passport data to different companies that can’t carry out their activities on the cryptocurrency market, and  It is within the framework of the law in certain states.  I believe that the provision of KYC cryptocurrency by users should be in parallel with the full legalization of cryptocurrency.

actually there are still many shortcomings that exist in the investment of crypto currencies and one of them is a security problem because there is currently no institution that provides power and oversees the development of crypto currencies because crypto currencies can be used by anyone at any time and at any time and all depends on the intention and investor's own goal in investing

[toast]

Doing KYC have a advantages and disadvantages like what OP said it can be use in some terrorism activities that one reason I hate this kyc system I dont give my identity to any company like this ico project so be careful for joining any project that require doing a kyc because your identity can be use by othee people for doing illegal activity.

one of the weaknesses in the economic system using cryptocurrency is one of them is the problem of weak security protection in performance or assets in crypto, or in other words, there is no legal force that is able to protect everything related to crypto currencies, so security from assets and our identity is that we ourselves are fully responsible

[Aying]

indeed nowadays terrorists are very difficult to finance their actions, the easiest way is to use cryptocurrency to finance or
to cash flow transactions fund between terrorists, so not easily tracked by law enforcement because of the cryptocurrencies anonymous nature.
KYC's identity abuse may occur to disguise their actions. so do not do KYC on sites that are not trusted so that our identities are not used by them.

Indeed. don't risk your personal info on projects that not interesting and you think that looks untrusted. because one wrong move might cause any trouble. now a days terrorism are widespread and actively doing their own move to fight government. cryptocurrency is their main way of preventing them from being seen by the government. and they may have been victimized some users many years ago. so let's be careful about what we do here in the crypto space.

[yulionoo]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

yes you are right a lot of people who use KYC for criminal acts. therefore I currently avoid participating in projects that use KYC requirements. I am not willing to exchange my personal identity for a few dollars. and using KYC does not guarantee that the projects we follow are not scams. many ICO projects are scams that also ask for KYC. now I prefer to join projects that don't use KYC.

[Ferris419]

It can be true, though I have a doubt about it! I have been living with crypto since 2015, but I never heard such ICO, KYC terrorist acts ever! Even when all ICO was dying in 2018, I did not hear like this crime! There are many ICO scammers who committed crimes and they should go to jail but yet they did not do criminal activities with our KYC! Maybe it happened, I just personally did not hear about it!

To avoid such bad activities, everyone should do more research before doing any project's KYC!  

[ice098]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

yes you are right a lot of people who use KYC for criminal acts. therefore I currently avoid participating in projects that use KYC requirements. I am not willing to exchange my personal identity for a few dollars. and using KYC does not guarantee that the projects we follow are not scams. many ICO projects are scams that also ask for KYC. now I prefer to join projects that don't use KYC.

That is why I am afraid when bounty needs kyc. But I have not heard any news that uses our kyc in terrorism, no news so far. Maybe there are some people uses cryptocurrency to make its image bad. This kind of news affects the cryptocurrency world, the market always goes to dip and crashes when something like this has been aired or been posted in different social medias.

[AicecreaME]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

yes you are right a lot of people who use KYC for criminal acts. therefore I currently avoid participating in projects that use KYC requirements. I am not willing to exchange my personal identity for a few dollars. and using KYC does not guarantee that the projects we follow are not scams. many ICO projects are scams that also ask for KYC. now I prefer to join projects that don't use KYC.

That is why I am afraid when bounty needs kyc. But I have not heard any news that uses our kyc in terrorism, no news so far. Maybe there are some people uses cryptocurrency to make its image bad. This kind of news affects the cryptocurrency world, the market always goes to dip and crashes when something like this has been aired or been posted in different social medias.

Not all of those who requires KYC are doing it on terrorist activities, that is too heavy to accuse to someone without any proof, maybe they are just using it on something that is not that big like terrorism, but they could use it on applying illegal documents online or taking out loans with fake profiles using their clients KYC information. Anyways, I'm also against this process because of too much smell like a fish.

[desticy]

It can be true, though I have a doubt about it! I have been living with crypto since 2015, but I never heard such ICO, KYC terrorist acts ever! Even when all ICO was dying in 2018, I did not hear like this crime! There are many ICO scammers who committed crimes and they should go to jail but yet they did not do criminal activities with our KYC! Maybe it happened, I just personally did not hear about it!

To avoid such bad activities, everyone should do more research before doing any project's KYC!  

There is a very simple explanation why you have not heard anything about the crimes related to terrorism in the field of PPI or have heard so little. While the fundraising is in progress, we may not fully know who the project investor really is, even if he is undergoing an identification process. However, some time after the fundraising ended, it may turn out that among the project investors were members of the organization classified as terrorist. This will become clear only after a while, after which we will receive a notification to the court with subsequent publicity.

[cutesgirl]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

yes you are right a lot of people who use KYC for criminal acts. therefore I currently avoid participating in projects that use KYC requirements. I am not willing to exchange my personal identity for a few dollars. and using KYC does not guarantee that the projects we follow are not scams. many ICO projects are scams that also ask for KYC. now I prefer to join projects that don't use KYC.

That is why I am afraid when bounty needs kyc. But I have not heard any news that uses our kyc in terrorism, no news so far. Maybe there are some people uses cryptocurrency to make its image bad. This kind of news affects the cryptocurrency world, the market always goes to dip and crashes when something like this has been aired or been posted in different social medias.

Why have afraid with KYC on bounty campaign if getting higher reward coin? I will joined all bounty campaign although have KYC if get much reward coin, if ended bounty campaign but reward less than under 0.2 eth I will not sell my KYC with lower value of bounty reward, just KYC with bounty campaign distribution higher reward and have trusted owner to participated at their bounty campaign.

[alisonwonder]

It can be true, though I have a doubt about it! I have been living with crypto since 2015, but I never heard such ICO, KYC terrorist acts ever! Even when all ICO was dying in 2018, I did not hear like this crime! There are many ICO scammers who committed crimes and they should go to jail but yet they did not do criminal activities with our KYC! Maybe it happened, I just personally did not hear about it!

To avoid such bad activities, everyone should do more research before doing any project's KYC!  

There is a very simple explanation why you have not heard anything about the crimes related to terrorism in the field of PPI or have heard so little. While the fundraising is in progress, we may not fully know who the project investor really is, even if he is undergoing an identification process. However, some time after the fundraising ended, it may turn out that among the project investors were members of the organization classified as terrorist. This will become clear only after a while, after which we will receive a notification to the court with subsequent publicity.

indeed there are some who raise funds for terrorists that have happened but you must know that if KYC is carried out throughout the platform then it will make your identity spread and your privacy disturbed because we all know that the privacy of people should be well guarded and do not spread to the public.

[Mumbeeptind1963]

Why have afraid with KYC on bounty campaign if getting higher reward coin? I will joined all bounty campaign although have KYC if get much reward coin, if ended bounty campaign but reward less than under 0.2 eth I will not sell my KYC with lower value of bounty reward, just KYC with bounty campaign distribution higher reward and have trusted owner to participated at their bounty campaign.

Maybe you are not aware to the identity stealing nowadays, we may never know where did they used our valid ID , our valid id can be use by illegal activities, they can sell our identity to others for there own benefits, though yes I sometimes give kyc but I always hide the security numbers of it, so that there will be a some private part that they cannot copy.