Identity Theft: Once you submit your personal info, and if that website ever gets hacked, your data is out there forever. It can be used for all kinds of online transactions, legal or illegal, and that can haunt you in the future.
Privacy Exposure: Many of us chose crypto because of privacy, but now KYC has become the norm. To keep playing, some people give in and submit. Even though casinos are required to keep it confidential, hacks and breaches happen. If that data gets stolen, you lose the privacy you came here for.
Identity theft and Privacy exposure are kind of similar, when these informations gets into the wrong hands, you’ll be the one to be seen and targeted by this scammers who have got hold of your informations. You don’t know who can get to them, so it is important to desist from giving your identity out for some penny monies when you’re not the one actually cashing out the money for your own use after winning from the casino. Hacks and breaches can’t be avoided and can happen at anytime.
Legal Liability: This is the biggest risk. If your KYC ends up tied to something serious like money laundering or terrorism, authorities won’t hesitate to go after you. And since it’s your name on the account, you can’t simply deny it, you already submitted your documents.
[/quote]
This should be feared the most because even if the rest can be tolerable, this cannot be and would just tarnish your image forever. Money laundering and terrorism financing has been the norms of the day, and this people can go extra mile to vindicate you just to get away with what they want. It is indeed not worth the risk, your good name is better than plenty of dollars.