TerraGreen Bounty KYC-Scam - changed rules of their bounty and refused payments
⭐ Merited by suchmoon (4) ,bones261 (2) ,The Pharmacist (2) ,malevolent (2) ,rhomelmabini (1) ,timerland (1)
TerraGreen is about to pull a KYC-Scam and refuse payments to all bounty participants which wont pass their afterwards introduced KYC. When TerraGreen launched their bounty, they wrote that KYC is not required to receive rewards. Now, after TerraGreen bounty has ended and before paying rewards, TerraGreen made an announcement, that KYC is suddenly required due to regulatory reasons:
Proof that KYC wasnt required while the bounty was running: http://archive.is/HTBvg#selection-955.0-955.7
And its still in the title of the topic when I archived it yesterday.
I consider KYC-Scams as an extremely shady move of a project to save costs when people dont submit KYC or if the project is a scam to collect personal data and sell it to other scammers on the black market. Assuming that shitcoin ICOs dont collect much funds right now, the personal data can be worth much more than the collected funds because the scammers can define which data they want to get.
I dont know if TerraGreen is a scam but the way they put pressure on their bounty participants and refuse them a payment if they dont pass KYC is at least scamming them.
It can happen that a company has to change some parts of their initial assumptions when legal things change and they get the information that KYC is required for all token holders. Although its far too much coincidence that such a change is always happening when the bounty is already finished.
But that still can happen and Im ok if TerraGreen pays their participants which dont want to send KYC for receiving rewards (because it wasnt required when they joined) with BTC or ETH instead. That would show that its really a coincidence and the intention of TerraGreen wasnt to scam bounty participants and just to save costs / collect data.
But after I've asked that in their Telegram they denied even payments in BTC or ETH instead. Thats a clear abuse to me and I will give them a negative trust. Proof:
Profile link of the accused user: https://bitcointalk.org/index.php?action=profile;u=2422222
Bounty thread: https://bitcointalk.org/index.php?topic=5127694.msg50440871#msg50440871
Ive not flagged them yet but I hope that a participant will bring up a scammer flag for violating a written contract because I cant do that, Im not a participant in their bounty.
The only thing I could do would be to create a Newbie flag which is less effective, so Ill wait if someone creates a scammer flag. Tagged for now.
Update:
User Aveatrex has confirmed to be an participant of their bounty here and has created a flag against terragreen: https://bitcointalk.org/index.php?action=trust;flag=454
If you agree to the points mentioned in this topic, it would be nice if you can support the flag.
Important update!
TerraGreen Team is regret to inform that all Bounty participants must have to submit KYC documents. TerraGreen got audit report from a government body and there will be a requirement of KYC documents of TerraGreen users.
So, bounty participants have to submit KYC before 16 July via their TGN wallets here https://wallet.terragreen.io/dashboard to get their coins.
(As far as I know this is only the bounty manager and he's not related to the team)TerraGreen Team is regret to inform that all Bounty participants must have to submit KYC documents. TerraGreen got audit report from a government body and there will be a requirement of KYC documents of TerraGreen users.
So, bounty participants have to submit KYC before 16 July via their TGN wallets here https://wallet.terragreen.io/dashboard to get their coins.
Proof that KYC wasnt required while the bounty was running: http://archive.is/HTBvg#selection-955.0-955.7
And its still in the title of the topic when I archived it yesterday.
I consider KYC-Scams as an extremely shady move of a project to save costs when people dont submit KYC or if the project is a scam to collect personal data and sell it to other scammers on the black market. Assuming that shitcoin ICOs dont collect much funds right now, the personal data can be worth much more than the collected funds because the scammers can define which data they want to get.
I dont know if TerraGreen is a scam but the way they put pressure on their bounty participants and refuse them a payment if they dont pass KYC is at least scamming them.
It can happen that a company has to change some parts of their initial assumptions when legal things change and they get the information that KYC is required for all token holders. Although its far too much coincidence that such a change is always happening when the bounty is already finished.
But that still can happen and Im ok if TerraGreen pays their participants which dont want to send KYC for receiving rewards (because it wasnt required when they joined) with BTC or ETH instead. That would show that its really a coincidence and the intention of TerraGreen wasnt to scam bounty participants and just to save costs / collect data.
But after I've asked that in their Telegram they denied even payments in BTC or ETH instead. Thats a clear abuse to me and I will give them a negative trust. Proof:
Profile link of the accused user: https://bitcointalk.org/index.php?action=profile;u=2422222
Bounty thread: https://bitcointalk.org/index.php?topic=5127694.msg50440871#msg50440871
Ive not flagged them yet but I hope that a participant will bring up a scammer flag for violating a written contract because I cant do that, Im not a participant in their bounty.
The only thing I could do would be to create a Newbie flag which is less effective, so Ill wait if someone creates a scammer flag. Tagged for now.
Update:
User Aveatrex has confirmed to be an participant of their bounty here and has created a flag against terragreen: https://bitcointalk.org/index.php?action=trust;flag=454
If you agree to the points mentioned in this topic, it would be nice if you can support the flag.