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?
KYC policies can really lead to illegal activities like identity theft, that is why a lot of crypto users are not in favor in signing themselves in projects that has KYC because they are scared that their identities might be use to trick other people. We should be really be careful to entrusting our identities to strangers because it can lead us to harm.