Announce Rigorous KYC Procedure…. or have they? Announce Rigorous KYC Procedure…. or have they?

Bitcoin and Cryptocurrency forum have raised a few eyebrows with their new KYC procedure which asks some very intimate details, but is everything what it seems?

KYCs are a fundamental part of any online finance organisation, and we are used to providing personal details with institutions to ensure everything is secure and above board. However, at what stage do you say no?

What if someone asked you about your previous crimes or romantic relationships? How about your bank details or addresses of your crypto? have put that to the test today via a “New KYC procedure displayed on their site. However, there may be more to it than meets the eye, and we think they might be having a bit of a laugh at our expense. That is considering today’s date. April 1st. April Fool’s Day.

The KYC they have posted starts of very innocently. The normal stuff you might expect. Full name, address, country etc. Then things get a little bit stranger.

It then begins asking you your net worth and income and will detect your exact coordinates. At this point, you might be thinking, “Weird flex, but ok.” However, the further down we get the more bizarre it becomes.

The real red flags come when it begins asking you “secret questions” that are common at banking and payment services such as your mothers maiden name or name of your first pet, as well as your blood type. Next up, gender, where you can opt to be an “Attack Helicopter”. I mean, we are all for inclusivity, but that is a bridge too far perhaps?

What Do You Think? Suspicious?

The last section first asks you to list all your Bitcoin and Alt Coin addresses, thus giving up access to where they can be found and used. Before asking you to detail your previous crimes, specifying you must provide at least one. As well as “past present and future romantic partners”, informing you they might be contacted for more information.

It then asks you for your credit card number, three numbers on the back of your card (CVV number) and expiration date, which of course, gives them all they need to use your card online. Finally, you then have to opt-in to share the details you provide with a list of organisations including The FBI, Facebook, Interpol and “your parents”.

By this point, it is pretty clear this is likely a joke. Haha Bitcointalk, very funny.

Considering the seriousness of details they have asked though, and how legitimate it seems at place value, perhaps this joke is a bit too far? Hopefully, not too many people have been suckered in and they confirm this is a joke before long to avoid any larger issues.

Hats off them though, they very nearly got us. Better luck next year guys.

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News


ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021
CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021

eToro Becomes An Official Partner Of RB Leipzig

The world’s leading social investment network, eToro, has recently announced a new and exciting partnership. According to an announcement on eToro’s Twitter page, the company has become the latest partner of the German football team, RB Leipzig. A two-year partnership agreement has been signed between the parties. Running until 2023, this agreement can be extended […]

24 August, 2021

PSG’s Messi To Receive Part Of His Salary In Cryptocurrency

The Argentinian footballer, Lionel Messi, has made headline news several times in the past few weeks. Following his surprise departure from FC Barcelona, the player confirmed that he will be joining Paris Saint-Germain FC. The move was significantly newsworthy but got even more interest when it was announced that part of the footballer’s salary will […]

23 August, 2021

KingTiger Casino Announces Shut Down

KingTiger Casino has announced that it has ceased all operations until further notice. According to its website, the casino has had to “temporarily close” due to Ethereum network congestion. It is not yet clear if and when this online Bitcoin casino will reopen. Meanwhile, we invite you to check out other Bitcoin casinos from our […]

12 August, 2021

CryptoCasino Announces Temporary Close

CryptoCasino has stopped operating until further notice. According to a landing page on their website, the casino is undergoing an update. There is no information about when the casino will reopen or the reason why an update required the website to shut down temporarily. Players who hold a crypto wallet account with CryptoCasino need not […]

11 August, 2021

Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021