there is a new thread about tradesatoshi that is about to close next month yet the exchange is asking KYC to the users who wants to withdraw their BTC. you won't be able to withdraw without submitting documents. its really a scam to its fullest, they are about to do the exit scam but were still requiring users to comply KYC. its worse when you finally submit yet the withdrawal was disabled.
KYC is biggest scam in crypto. Most exchanges use it as a reason to steal. And with s**t / scam exchanges that use it as a reason to steal user funds it is even more dangerous.
Yes, please give us (a scam exchange) all your most sensitive information, your DOB, Name, Address, Next of kin, secret passwords, social security number, picture of you and your family holding up ID, and your pets's name...and then we say that is not enough...
please provide a bank account, phone number and phone provide ID, please tell us your employer name and address, please tell us how you made your money (due to KYC and money laundering concerns) and don't worry all that information is secure with us ( yeah right- being sold on the black market as we speak).
Decentralised exchanges can't happen soon enough, but sadly are not yet here. Or are there options?
I guess in this case doesn't matter, all users will get scammed now anyhow by Tradesatoshi, but still...if anyone knows..I only know of Waves decentralised exchange.