Post
Topic
Board Beginners & Help
Re: Why KYC is extremely dangerous – and useless
by
xz0708
on 09/08/2021, 03:42:59 UTC

Along side freezing the assets, Bitfinex is being asked to dox the account owner, and that is where the uncertainty is as to what KYC data the ransomware perpetrators used: their own personal data, or yours (generic third party)? The outcome may be considered good or bad in this case, depending on the wit of the perpetrators.

good point - was the hacker using stolen personal data to kyc ?  or did they catch the hacker because he used kyc ?  wonder how many "chainanalysis" traced accounts were opened with stolen personal info....that is where the kyc will start to spring back against exchanges....