n way we not afraid for the required KYCs i think its good for our security
I do not understand how it can be good for security that you transfer your personal data and copies of your documents directly into the hands of scammers? According to statistics from 902 ICO projects, a third turned out to be scammers. Even if a company that conducts an ICO and is registered in a country where it is required to conduct a KYC audit, this does not mean that such a company will not later be fraudulent.
Apparently even registered ICOs may turn out as a fraud because scammers these days make it seem like theyre truly legitimate.
KYCs are really scary now that there are numerous scams these days. Its hard to tell whether an ICO is just a front made for you to fall for a scheme or a phishing tool. Personal information is something we must keep secure and we must be cautious of giving out this information because it may easily be used against us. Identity theft is one of the many risks if our information falls on the wrong hands.