Quote from: Thirdspace on August 25, 2018, 11:22:41 PM

that is one of possible reasons why more and more ICOs are asking for KYC verification
they hide behind the KYC regulations and act like legitimate businesses
but it's just another trick to steal people personal information
and that's why many crypto enthusiasts will try as much as possible to avoid KYC procedure
the KYC stuff is just against the idea of pseudonymous in peer-to-peer crypto currency

This is the reason why I don't join bounties that ask for KYC because they might be just another company who would be doing this. Even if they wouldn't be able to collect huge amount of money in their scammy ICO, they can still get some money by selling the information of those investors who wouldn't only lost their money but their identity were sold as well. As for the bounty hunters who most probably would be thousands of them if the ICO is famous and many bounty participants, then they can still get large amount from selling those documents.

Quote from: bohr on August 25, 2018, 11:04:39 PM

Unfortunately this is something that I thought it will happen as soon as the icos started to require KYC, there are many legitimate icos out there and they are forced to comply with the law and follow those rules but as we know scammers are a bunch of opportunistic people and they have found another way to make money, as if it was not enough they they stole your money now they can steal your identity as well.

Yes, those scam ICOs would tell the people to pass KYC because they are just following regulation. Since scam ICOs are getting ahead nowadays, I would just choose to buy the coin when listed in an exchange. There is a possibility anyway that the price would be lower than ICO and if you think about it, it would still be the same as getting the bonuses during ICO.