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Showing 20 of 29 results by TGrypto
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Topic
Board Exchanges
Re: JulSwap CEO Concerns
by
TGrypto
on 01/09/2021, 11:16:24 UTC
it is not like the binance launchpad. Julpad is fully decentralized and all can list there it is not our decision. Like on uniswap all can list there and no one controls it.

Based on your status on bitcointalk I think you understand the difference.

Post
Topic
Board Exchanges
Re: JulSwap CEO Concerns
by
TGrypto
on 01/09/2021, 10:32:10 UTC
Hey Guys I think you need to do a proper research before talking such shit into the world :-D

Bitdepositary Now known as MIMA (https://twitter.com/mimadottech read the BIO) finished a total product which made the 04th Rank on Ripple Hackaton. (proof https://devpost.com/software/verified-payid) but yes unfortunately no one liked KYC in the past but now the time changed and we integrated the KYC into JulWallet and use it as decentralized integrated KYC which is one of the best protections for all users.

Token From MIMA / Bitdepositary:
98% from the total supply or even little bit more are in my hands and not sold and there is liquidity on the market so no one gathered any investment and did not deliver guys.

Moonberg I was attend yes not a question and it did not work as well not a question but it as no scam and no Ponzi, it simple have had one problem and after I saw the problem is stopped it and I personal refunded a big amount to the people and all other people vanished. Around 90-95% made huge money and the rest made maybe slightly loss. This numbers are better then 99% of all crypto tokens because normal 90-95% make loss and the rest profit so think about it.

My serious advise for you guys look for some job or something to waste your time but this informations and sentences from you are 100% trash and I love you all but some are a little bit more intelligent and some not this is normal.

Have a nice day :-)

Ciao
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 30/08/2020, 11:03:49 UTC
Hi Community,

We know you like Uniswap and JustSwap, and we are here today to present to you something even better - the JustLiquidity concept!

What is JustLiquidity?
The JustLiquidity DeFi is not merely a better way to trade and earn on Uniswap & JustSwap with ETH and TRX, but also a DeFi which can execute a Liquidity Token Sale with a token. And this token will always possess liquidity through its decentralized nature!

Liquidity Sale Demo
To illustrate how the Liquidity Token Sale works, we are going to setup a JUL a ERC20 Token. After the start of the Liquidity Sale, we will launch the JustLiquidity Protocol using our MIMA Token to increase the liquidity and user base.

Token distribution
In the next step, we will allow as well as other Projects to conclude their Liquidity Token Sale. All Projects will need to distribute 1-2% from their Total Supply of tokens to our MIMA holders with more than 2,500 Mimas! More Mimas means more tokens from the project. This will conclude the Liquidity Token Sale.

PreSale is coming soon!

Find out more about JustLiquidity, its advantages, features and the token sale process in our updated Presentation:
Presentation:
https://docdro.id/DyOuQZr

The PreSale from our "Prototype" Token JUL and the Beta Launch is coming soon!

Website:
https://justliquidity.org

Telegram Group:
https://t.me/justliquidity

CEO Tobias Graf JustLiquidity Introduction
https://youtu.be/4ZaytqBfJi4
Post
Topic
Board Announcements (Altcoins)
Topic OP
[ANN] JustLiquidity - Your Uniswap Liquidity Protocol
by
TGrypto
on 30/08/2020, 06:27:10 UTC
Introducing JustLiquidity DeFi: Your Source of Daily Returns on Uniswap!

"Image for post"

What is JustLiquidity?
  • A unique finance and liquidity engine for Uniswap
  • More liquidity, more tokens, better price
  • Predictable ROI and daily returns

JustLiuidity is a Liquidity Protocol which gets integrated with the Uniswap Exchange and rewards liquidity providers with ETH as well JUL token holders with their unique finance and liquidity engine.

JUL has an elastic supply structure which increases when more liquidity is added, and decreases when liquidity is removed from the Protocol. In this structure, you can just buy JUL on Uniswap and it will gradually appreciate the price of JUL to our “target price”. JustLiquidity users and JUL token holders can expect a very steady and predictable ROI (return on investment) with this brilliant ecosystem.

JUL’s Token Economics:
  • Offer liquidity, reward liquidity providers, increase JUL token price

The JustLiquidity Protocol is a new kind of DeFi which has been built to provide the JUL token, and later on other tokens as well, continuously with liquidity, which means the more liquidity you provide, the more tokens get released. The only aim of the JustLiquidity Protocol is to provide token holders with liquidity, reward liquidity providers, and increase the JUL token price gradually.

Liquidity Providers:
  • Earn 0.2% interest per day for your ETH liquidity
  • Deposit ONLY the ETH, and not ETH & the token
[/li][/list]Decentralized liquidity token sale[/li][/list]
[/li][/list]Add and remove your liquidity any time![/li][/list]
[/li][/list]Daily interest payouts[/li]
[/list]

Advantages of Decentralized Liquidity Token Sale:


Instant Liquidity:
Whenever JustLiquidity contract users deposit ETH into the contract, ETH and the Project Tokens get deposited into the Uniswap Liquidity Pool. When users withdraw ETH from the Contract, the project tokens get removed from the Pool. Hence, with this system, a project token will never be available without liquidity.

Token Sale Distribution:
When the JustLiquidity contract users add more ETH as liquidity, the contract will automatically release the needed project tokens into the liquidity Pool until the provided project token amount is fully integrated in the Pool. This increases the circulation supply, and also reduces the circulation supply when users remove liquidity.

Token Sale Team Income:
The Team or Marketing Token will be released in a decentralized way based on the ETH liquidity provided by JustLiquidity customers to protect the possibility of decrease in liquidity and Token Price.

More Liquidity = More Circulation Supply:
"Image for post"
Lower Liquidity = Lower Circulation Supply:
"Image for post"

JUL Token Distribution:
"Image for post"
Total Supply: 1,000,000 JUL
PreSale Price:
Day 1: 1 ETH = 35 JUL
Day 2: 1 ETH = 34 JUL
Day 3: 1 ETH = 33 JUL
Day 4: 1 EHT = 32 JUL
Day 5–7: 1 ETH = 31 JUL
Token Start Price: 1 ETH = 30 JUL

PreSale: 50,000 JUL (5%)

Based on our PreSale results, we will start with $800,000-$1,000,000 worth of liquidity, which will be released immediately after the launch 30,000- 50,000 JUL Tokens as a buy option on Uniswap backed with liquidity! The rest of the Pre-Sale income will be used for Audits and up front marketing like top crypto YouTubers and influencers as well as advertising via CMC banners and the Smart Contract Audits from two third party companies!

Marketing (10%) & Team (5%) Tokens Release:
With the increase from the Locked Liquidity in our JustLiquidity DeFi, we will step by step release the Team and Marketing Tokens to protect the JUL Price!
No JUL Token Release without Liquidity!

6,000 ETH JustLiquidity Locked Value — 1.5% Team & 2.5% Marketing Token release
15,000 ETH JustLiquidity Locked Value — 1.5% Team & 2.5% Marketing Token release
30,000 ETH JustLiquidity Locked Value — 1.0% Team & 2.5% Marketing Token release
45,000 ETH JustLiquidity Locked Value — 1.0% Team & 2.5% Marketing Token release

ETH Trading Pair (45%):
Until now there is just the possibility to trade the Pair ETH/ JUL on Uniswap. But should there be, in the future, any other trading pairs available, like USDT/JUL, then we will set up an official voting for our JUL holders to decide if we should add more trading pairs.

Future Trading Pairs (20%):
To give us the opportunity to add more trading pairs later, 20% of the total supply will remain in our Liquidity Contract until the JUL token holders have voted for a new existing trading pair. The new trading pair will always get created with the actual price ratio from JUL to avoid price and liquidity changes.

Liquidity Reserve (15%):
Should we reach the fully available ETH Trading Pair total supply, then we will conclude a voting process whether this 15% will be available to our community or not! If not, then these tokens will remain in the Liquidity Contract as reserve for the interest payout to our Liquidity Providers!

Token Release Voting:
The voting process: for 15% reserve JUL tokens
JUL token owners can vote for 15% reserve tokens to be released into the Liquidity Contract. Here is how the voting process works:
Voting is enabled when only 4.5% tokens from the total supply are left in the JustLiquidity Contract
After the first vote by a user, the voting will happen for the next 7 days.

Own 1 token = 1 voting weight

When 70% or above vote ‘Yes’, the tokens will be released into the ETH/JUL Liquidity Contract

Voting process for 20% Future Trading pairs
Voting is enabled when only 4.5% JUL tokens are left. After the first person has voted, the voting continues for the next 7 days. Every token gives one voting weight to the owner. Tokens are released and new trading Pair will be created when 70% or above have voted ‘Yes’.

RoadMap:
JustLiquidity Beta Launch: latest 20th September, 2020
JustLiquidity DeFi Main-Net Launch: After the successfully third Party Audit, latest on the 01st October, 2020

Team:
Tobias Graf CEO
Tobias brings over 10 years of CEO experience, successfully leading a number of companies within the financial and programming services sector. He has steered and developed many of his own companies with renowned success and is also highly-adept at project planning on salesforce, a skill that will be harnessed to benefit the team and the JUL and MIMA business overall. His strength of experience and depth of industry knowledge gives him the professional skills and experience to successfully manage this sophisticated technology project. As the leader of the business, his skills cross over technology, marketing, and lean operational effectiveness. The companies aforementioned are: Wirtschaftskanzlei Mittelschwaben GmbH (Insurance Broker), TGG Holding GmbH (Holding Company) and the project KYC.Crypto (Decentralized KYC Sharing Portal).
Linkedin: https://www.linkedin.com/in/tobias-graf-18959512b/

Rohit Changediya (CTO)
A well-qualified, full stack developer familiar with a wide range of programming utilities and languages. Knowledgeable of back-end and frontend development requirements. Able to handle any part of the process with ease. Collaborative team player with excellent technical abilities, offering 6+ years of related experience.
LinkedIn: https://www.linkedin.com/in/rohitchangediya/

James Smith (CSO)
Exceptionally analytic individual with vast experience in determining possible network vulnerabilities and crafting custom exploits. Adept at running tests aimed at deciphering system weaknesses and providing suggestions to overcome them. Deep insight into conducting formal tests on web-based applications and networks by employing creative and analytical type attack vectors.
LinkedIn: https://www.linkedin.com/in/js3daas/

Rahul Trivedi (Fullstack Developer)
Always striving for the latest technologies. Node stack enthusiast. Able to work front to back with knowledge of sql-nosql databases. Handling Linux servers with ease. Familiar with Node, PHP and Python stacks. Always learning new technologies.
LinkedIn: https://www.linkedin.com/in/rahul-trivedi-2b1a37151/

Rahul Buddhdev (Blockchain Developer Tron & Ethereum)
Experienced full stack developer as well as dApp developer, having knowledge of latest blockchain technologies such as Ethereum, Tron and Hyperledger. Able to work with complex tasks and ideas. A programming ninja and a quick learner.
LinkedIn: https://www.linkedin.com/in/rahul-buddhdev-96895a128/

Abdul Wahid Memon (Ph.D., Blockchain Specialist)
Professor, Dr. of Computer Science with main expertise in segment Blockchain and Cryptography!
LinkedIn: https://www.linkedin.com/in/abdul-wahid-memon-ph-d-7790261a/

JustLiquidity is a Product from KYC.Crypto!

Web: www.justliquidity.org
Ethereum: https://docdro.id/DyOuQZr
Telegram: https://t.me/justliquidity
Twitter: https://twitter.com/JustLiquidity
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 30/08/2020, 06:16:36 UTC
Hello! any upcoming news, events?
Hi, we will launch soon our SUBS.Crypto DeFI read more: https://docdro.id/4x2MiDE
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 26/07/2020, 18:35:37 UTC
why this project take so long, since ico ended in 2018 there was a lot of significant progress, but why that's don't have effect for mima price
We finished 4 weeks ago the first product.

Now its time to grow and take a step into the future.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 10/07/2020, 11:58:39 UTC
KYC.Crypto is now listed on Coingecko
https://www.coingecko.com/en/coins/kyc-crypto#markets
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 10/07/2020, 11:51:17 UTC
Our KYC.Crypto Token called MIMA is now available on the #Uniswap Protocol!

Swap your Tokens or Provide liquidity and earn!

Uniswap Information: https://uniswap.info/pair/0x9d92010e4e63acbc03c2b98eaacb13508e069ce0

Telegram: https://t.me/kyccryrpto


.🎉Announcing the #MIMA #Uniswap Liquidity Rewards Program  🎉

Provide and maintain liquidity for 30 days and earn 6% ETH Reward! Entries stop on July 14, 1pm CET.

✅Read More:
https://forms.gle/pq6xv4Hgpm3X6PJC8

✅ Join our Telegram Community:
https://t.me/kyccryrpto
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 02/07/2020, 16:13:55 UTC
Global DeFi Service KYC.Crypto is Live!

After months of intense discussions, many coffee mugs, hard coding and inspirations, the global and decentralized KYC.Crypto DeFi is live today on the Tron Blockchain.

With a single, globally saved KYC profile, users can transact on any partner platform with ease. Goodbye to money laundering and data theft too.

Users who set up their KYC profile will also receive a free and connected PayID in the next few days  – transact, pay, receive money anywhere in the world, all with a pre-authenticated identity.

Check out the official presentation: https://docdro.id/3NlWx8s
KYC DeFi login: https://my.kyc-crypto.com
Welcome to the new, one-KYC-for-all-services world!

We’d love to receive your feedback and reactions. Share, retweet and spread the word around.
Post
Topic
Board Altcoin Discussion
PayID Verification - Suggestion
by
TGrypto
on 26/06/2020, 08:14:46 UTC
Hi Guys,

after the PayID Dev conference yesterday we created an presentation which shows how it would be easy possible to verify the PayID and to give each PayID a face with our decentralized KYC Login.

It would be nice if you would let me know your feedback and your thoughts.

https://docs.google.com/presentation/d/1Dg4OkcpZ2Gk4Wf8lJN1V6LNhqacg12AXhvfAkY4pkUo/edit?usp=sharing

Thanks.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 26/06/2020, 05:05:47 UTC
Yesterday the KYC.Crypto Team was attend on the payid.org Developer Conference and we are fascinated about the development and the progress!

Tonight we developed an concept how every #PayID gets a face:
https://docs.google.com/presentation/d/1Dg4OkcpZ2Gk4Wf8lJN1V6LNhqacg12AXhvfAkY4pkUo/edit?usp=sharing


Whats your opinion?
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 25/06/2020, 09:00:54 UTC
MIMA Token TRC20 Details

https://kyc-crypto.com/mima-trc20/

_________

MIMA Token ERC20 Details

https://kyc-crypto.com/mima-erc20/
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 25/06/2020, 08:52:28 UTC
Let’s Clean up Fake Social Media Profiles! The Login.Crypto Button Does the Trick

Everyone is familiar with fake messages and emails coming from people pretending to be Bill Gates, Warren Buffet or Richard Branson asking to accept a LinkedIn request, or a supposed ‘Elon Musk’ on Twitter announcing free Bitcoin or Ether. Social media could however be made better and cleaned up of its current messy situation with a simple add-on.

The KYC.Crypto login button is a simple add-on feature which, when integrated, allows users to verify profiles with their real identity.

A fake profile is usually created by putting together celebrity or model photographs and generic information or simple copies from existing real profiles. Often carrying typos and bad grammar, such profiles are used for many reasons and causes – from scraping email addresses and user information to financial scams and fraud.

Scamsters use professional networks like LinkedIn with fake profiles to garner useful information about many targeted individuals or sections of people. The information can be used to create phishing scams, send malware links, spy on activities, or send fake marketing offers.

A recent example of how a fake LinkedIn profile is noteworthy. A scamster posed as staff of a reputed blockchain online news publication with an official email ID, and offered to produce reports, case studies and analyses. The original staff member, whose email ID was provided and who received the email, pointed out that it was a scam that they were working hard to stop.

The huge amounts of fake profiles are simply mind boggling. An official blog post from LinkedIn admitted that “between January and June 2019, we took action on 21.6 million fake accounts. Around 19.5 million accounts were stopped from being created, and 2 million fake accounts had to be restricted before complaints were received. On Twitter, 200,000 accounts were suspended before being substantially active. Facebook too continues to face a similar problem.

The Add-on that Cleans Up Social Media

The Login.Crypto button works just like the Google or Facebook sign-in buttons that can be used to login to a portal or platform or social media platform without having to create a new account.

Given that fake profiles can be stopped if the user had been verified beforehand, the Login.crypto button can filter out or weed out all identities that have not been previously verified with official credentials such as a selfie with passport and other documents to verify their identity.

The Login.crypto can be integrated as add-one just like Google or FB signin button. Only users who are KYC verified can verify their existing profiles or login to new platforms.

The Login.crypto service works on the Tron blockchain and is completely decentralized. To get verified, the user needs to create a KYC profile in the DeFi service. The login information is secured via his own Tron wallet, and all personal data and documents are saved on the Tron blockchain with smart contracts and in the secure IPFS protocol.

Whenever any user logs in using the Login.crypto button, the platform can be sure that they are a real person, vetted and verified beforehand, and information such as the user’s first name, last name, date of birth and the Tron address are also available to the client.

The Login.crypto button offers decentralized and cryptographic protection to stop hacking or leakage of stored data. The real identity of every user is thus always confirmed and assured!

https://kyc-crypto.com/lets-clean-up-fake-social-media-profiles-the-login-crypto-button-does-the-trick/
Post
Topic
Board Development & Technical Discussion
Topic OP
Tron Blockchain HD Wallet creation and login
by
TGrypto
on 08/06/2020, 07:07:45 UTC
Dear Bitcointalk Community,

we work right now on the setup to migrate our dApp which is based on Ethreum on the Tron Blockchain and we cant find any open source repo for the HD Wallet creation and login process similar like on Tron Link but for web applications.

Is there anything available?

Thank you!


Post
Topic
Board Press
Re: [2020-06-07] Data Leak from Digitex
by
TGrypto
on 08/06/2020, 05:08:06 UTC
You aren't supposed to copy paste the whole text here. Put a summary then read more link. The title should be 2020-06-03 which is the published date.
+ Article about a sad news in order to advertise the site service. We have a case here  Sad
Hi,

thanks for you message.

The Page where you can find the article is my page and I think the blockchain Technology is created to solve issues like this or?

The 100% regulation will come earlier or later and to save your personal Datas with the blockchain Technology which you trust is better as to use centralized Authorities and your Datas end up in the darknet earlier or later or?

I will change the Date thanks for the information.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 07/06/2020, 20:33:08 UTC
Data Leak from Digitex Reveals the Pitfalls of Exchange-Based KYC


KYC norms and its processes aren’t merely a hot topic, but are also lending many platforms in hot soup. The latest victim of data breach and theft is no other than the much celebrated platform for bitcoin futures, Digitex.

The Seychelles based derivative exchange has removed all KYC related services from its system after a major hack data leak that took place in March 2020. The event has been officially described as an insider job and a data leak by a disgruntled employee. At stake are 8,000 users, whose government IDs and personal information is said to have been shared.

The KYC leak was done by someone with the identity ‘Digileaker’, who claims to possess the entire KYC documentation of the exchange, from day one. The identity claimed to have used the exchange login to get unrestricted information to all users, such as their phone numbers, addresses, IP addresses, etc., obtained from passports and driver’s licenses.

Digitex was founded by Adam Todd, described as a no nonsense man, to offer Bitcoin futures at zero cost or fees. It shot into limelight after raising $5.2 million in mere 17 minutes. After the hack, the exchange reacted by completely removing all KYC elements from its website.

For Digitex, the only way to ensure there was no further breach was to remove KYC itself, even if it had any utility. For Todd, KYC is just a way for governments to keep tabs on traders and crypto users and figure out who owns how much or where the money is spent. The exchange had however adopted KYC earlier to restrict money laundering and US citizens from participating.

A couple of other exchanges have suffered some hacks in the recent past. In February, OKex and Bitfinex had a denial of service attack, and Coinhako suffered a sophisticated attack and had to reimburse customers.

A recent report from P.A. ID Strategies reveals that the majority of exchanges do not have sufficient background checks. While the security of personal data kept with exchanges remains uncertain, new KYC norms have been put into place with new regulation like the one announced by FATF. Among exchanges, the crypto-to-crypto exchanges aren’t very keen to track transactions.

In this scenario, focus is now on the decentralized KYC services, such as KYC.Crypto. The global service offered here requires KYC to be done only once. After that, the same profile can be shared with any participating exchange or platform at the click of a button. A single, universal KYC can save huge efforts and money spent complying with KYC norms today, and also keep all data very secure.

The burden of doing KYC can be alleviated with decentralized and globally available KYC. Online crypto platforms can also heave a sigh of relief as they do no longer have to store and ensure the safety of user data.

https://kyc-crypto.com/resources-details?v=91

Post
Topic
Board Press
Topic OP
[2020-06-07] Data Leak from Digitex
by
TGrypto
on 07/06/2020, 20:24:05 UTC
KYC norms and its processes aren’t merely a hot topic, but are also lending many platforms in hot soup. The latest victim of data breach and theft is no other than the much celebrated platform for bitcoin futures, Digitex.

The Seychelles based derivative exchange has removed all KYC related services from its system after a major hack data leak that took place in March 2020. The event has been officially described as an insider job and a data leak by a disgruntled employee. At stake are 8,000 users, whose government IDs and personal information is said to have been shared.

The KYC leak was done by someone with the identity ‘Digileaker’, who claims to possess the entire KYC documentation of the exchange, from day one. The identity claimed to have used the exchange login to get unrestricted information to all users, such as their phone numbers, addresses, IP addresses, etc., obtained from passports and driver’s licenses.

Digitex was founded by Adam Todd, described as a no nonsense man, to offer Bitcoin futures at zero cost or fees. It shot into limelight after raising $5.2 million in mere 17 minutes. After the hack, the exchange reacted by completely removing all KYC elements from its website.

For Digitex, the only way to ensure there was no further breach was to remove KYC itself, even if it had any utility. For Todd, KYC is just a way for governments to keep tabs on traders and crypto users and figure out who owns how much or where the money is spent. The exchange had however adopted KYC earlier to restrict money laundering and US citizens from participating.

A couple of other exchanges have suffered some hacks in the recent past. In February, OKex and Bitfinex had a denial of service attack, and Coinhako suffered a sophisticated attack and had to reimburse customers.

A recent report from P.A. ID Strategies reveals that the majority of exchanges do not have sufficient background checks. While the security of personal data kept with exchanges remains uncertain, new KYC norms have been put into place with new regulation like the one announced by FATF. Among exchanges, the crypto-to-crypto exchanges aren’t very keen to track transactions.

In this scenario, focus is now on the decentralized KYC services, such as KYC.Crypto. The global service offered here requires KYC to be done only once. After that, the same profile can be shared with any participating exchange or platform at the click of a button. A single, universal KYC can save huge efforts and money spent complying with KYC norms today, and also keep all data very secure.

The burden of doing KYC can be alleviated with decentralized and globally available KYC. Online crypto platforms can also heave a sigh of relief as they do no longer have to store and ensure the safety of user data.

https://kyc-crypto.com/resources-details?v=91

Post
Topic
Board Press
[2020-06-07] Latin American Crypto Market Paying the Price for Lax Security?
by
TGrypto
on 07/06/2020, 19:53:12 UTC
Latin American economies are in turmoil, and among the saving measures, have adopted cryptocurrencies to tide over their challenges. Venezuela, the country that made news for its inflated currency, even rolled out the first sovereign crypto coin, the Petros (PTR). The Latin American region counts the largest number of users of cryptocurrencies in the world. All of this sounds good for crypto, but all is not well.

Latin America is “a ripe environment for financially motivated hackers, persistent fraudsters, and even drug cartels working with cybercriminals,” says a recent report, ‘The Dark Side of Latin America’ published by the IntSights, a threat intelligence firm.

Five among the top ten crypto friendly countries are from Latin America: Brazil, Colombia, Argentina, Mexico and Chile. There are several reasons for this popularity, a big one being remittances. The migrant workers send back money easily using cryptocurrency platforms. Another factor is that only about half of the population is banked.

With cryptocurrencies widely used, the money laundering market is also huge. Lax regulation means criminal enterprises, cartels, hackers and money laundering enterprises are blooming, and crypto is just the right medium. The crypto platforms do not have strict KYC and AML norms, nor are there regulations to govern them.

For instance, P2P exchanges are quite popular for money laundering. The report names LocalBitcoins where AML measures are weak, with the exchange suspending user accounts for security reasons. The recent scam involving Crypto Capital is also a warning signal, as it was able to deceive Bitfinex, a reputed and large bitcoin exchange.

It’s no wonder that illicit crypto funds from around the world, estimated as much as 97 percent, get diverted to Latin American crypto exchanges. The report cites the case of a big money laundering scam worth $ 350 million involving Panama based Crypto Capital, which was in the payment business. The funds were reportedly tied to Colombian drug cartels.

In brief, weak and unenforced KYC/AML norms in Latin America have attracted criminal and threat based organizations to operate carefree using local crypto and P2P exchanges. A region that could have been a leading use case for adoption of cryptocurrencies now stands tarnished, becoming the exact opposite case for why not to adopt cryptocurrencies.

One way out for Latin America is to involve the government for regulation and monitoring. For instance, Brazil has passed a rule to require citizens to report their cryptocurrency transactions.

The role of standardized and impeccable KYC/AML processes can’t be exaggerated. There are today third party KYC services with standard norms and compliance procedures that can identify and validate crypto users, and share the KYC profiles with governments and online partners.

https://kyc-crypto.com/resources-details?v=121
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 07/06/2020, 19:32:23 UTC
Is the Latin American Crypto Market Paying the Price for Lax Security and KYC/AML Norms?

Latin American economies are in turmoil, and among the saving measures, have adopted cryptocurrencies to tide over their challenges. Venezuela, the country that made news for its inflated currency, even rolled out the first sovereign crypto coin, the Petros (PTR). The Latin American region counts the largest number of users of cryptocurrencies in the world. All of this sounds good for crypto, but all is not well.

Latin America is “a ripe environment for financially motivated hackers, persistent fraudsters, and even drug cartels working with cybercriminals,” says a recent report, ‘The Dark Side of Latin America’ published by the IntSights, a threat intelligence firm.
Five among the top ten crypto friendly countries are from Latin America: Brazil, Colombia, Argentina, Mexico and Chile. There are several reasons for this popularity, a big one being remittances. The migrant workers send back money easily using cryptocurrency platforms. Another factor is that only about half of the population is banked.

With cryptocurrencies widely used, the money laundering market is also huge. Lax regulation means criminal enterprises, cartels, hackers and money laundering enterprises are blooming, and crypto is just the right medium. The crypto platforms do not have strict KYC and AML norms, nor are there regulations to govern them.
For instance, P2P exchanges are quite popular for money laundering. The report names LocalBitcoins where AML measures are weak, with the exchange suspending user accounts for security reasons. The recent scam involving Crypto Capital is also a warning signal, as it was able to deceive Bitfinex, a reputed and large bitcoin exchange.

It’s no wonder that illicit crypto funds from around the world, estimated as much as 97 percent, get diverted to Latin American crypto exchanges. The report cites the case of a big money laundering scam worth $ 350 million involving Panama based Crypto Capital, which was in the payment business. The funds were reportedly tied to Colombian drug cartels.

In brief, weak and unenforced KYC/AML norms in Latin America have attracted criminal and threat based organizations to operate carefree using local crypto and P2P exchanges. A region that could have been a leading use case for adoption of cryptocurrencies now stands tarnished, becoming the exact opposite case for why not to adopt cryptocurrencies.

One way out for Latin America is to involve the government for regulation and monitoring. For instance, Brazil has passed a rule to require citizens to report their cryptocurrency transactions.

The role of standardized and impeccable KYC/AML processes can’t be exaggerated. There are today third party KYC services with standard norms and compliance procedures that can identify and validate crypto users, and share the KYC profiles with governments and online partners.


https://kyc-crypto.com/resources-details?v=121
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] KYC.Crypto - Global decentralized KYC Sharing Platform for all Exchanges
by
TGrypto
on 06/06/2020, 09:11:59 UTC
The rebrand on Etherscan was successful to KYC.Crypto

https://etherscan.io/token/0x61D71973A6FfD07d5F1095AED53b06E5673E64BC

oh, it's good news. But we have a little liquidity on Mercatox, when other exchanges?

Hi, yes that's correct the liquidity is so far very small. We implement in the upcoming days the uniswap pool and swap into our website to increase the liquidity. (We just improve the UI right now)

The first additional exchange listings take place very soon after our mainnet launch from the kyc defi.

With the launch on the mainnet we will get also our first use case from mima with the integration from our partners (exchanges and payment providers) into our kyc defi.

In the upcoming days we will also present our future use cases on which we are working already like:

1. Signit.digital
2. Login with KYC.Crypto Button
3. The Defi Stablecoin and Payment integration

Thanks

Best regards

Tobias

Hi , when this "upcoming days" comes? And what you like swap rate ? I think that it will be very far from the price of ICO?
Hi,

yes it will be very far from the ICO price because the people purchased in the ICO tokens with an price freezer which is "the rea"l ICO Price.

The upcoming days are coming when its finished :-) the team is working on it to implement it with our own interface.

Swap rate will be decided based on the market and the order book on mercatox.

If there should be a grow, than its needs to be done with products and professional market marking.

Cheers