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?
That's why I do not participate in KYC because of the risks. There are now a lot of issues about KYC because some of the identity have been sold online. Just stay out to KYC in order to protect our identity.
I am also worried about this issue right now. since there are many bounty projects that require participants to KYC, these participants didn't have any other choice because they will not be paid if they are not passing KYC, of course this is detrimental to the participants. Moreover, sometimes there are projects that inform the KYC must be done after the bounty project is finished, which means they did not notify from the beginning.