What could be so worse than getting robbed? But i understood what you are talking about. KYC is extremely dangerous, that is true. If the data is leaked and hackers know about it, no one knows who could be the victims of phishing attack, even if someone is able to abkid those types of online attackers, how about physical attacker. You are not wrong.

People should know that KYC does not mean any security, only the advantage is that if someone have access to its email and forgot his or her password, he can be able to easily reset it's password and be able to have access to its account.