The real danger of KYC \ stacker news ~bitcoin

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The real danger of KYC darknetdiaries.com/episode/162/

987 sats \ 17 comments \ @DarthCoin 30 Aug bitcoin

Please listen this episode from Darknet Diaries, about a vietnamese guy that became from a simple "hacker" on darknet a real "provider" and reseller for data brokers... the real danger of your KYC data.

The danger of KYC is that your personal information get into various hands, by selling it (without your consent !) and used for various purposes.

Very interesting story and how the system is fooling you, the final user.

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71 sats \ 0 replies \ @optimism 30 Aug

This is the book that was recommended at the end of the show: Means of Control - Byron Tau (ISBN: 9780593443224)

21 sats \ 4 replies \ @flat24 31 Aug

Pretty interesting, thanks for sharing.

I find it quite incredible as common people ignore this kind of thing, when you try to inform them because it is wrong not to take care of their personal data on the Internet and because the KYC is wrong.

Everyone looks at you as if it were someone stupid.

130 sats \ 3 replies \ @DarthCoin OP 31 Aug

The thing is that most of podcasters and influencers are trying to present KYC as a thing that gov is using to track your sats.

I always said: govs don't give a shit how many sats you bought from a KYC exchange... they only wait and want you to sell them back for fiat and they catch you, because you are back into their "hands" (fiat banks) and can do whatever they want with you.

If you never go back to fiat, govs can't do shit about about that.

But the real danger is that your personal information is shared, sold, used, hacked etc by the bad guys.

People should me more worried about a real thug getting your data and come to your house, kidnap you, torture you with the goal of taking your sats... and not the gov. With the govs is very easy to deal (if you know how to play it) and tell them to fuck off, you have no jurisdiction over my private money.

21 sats \ 0 replies \ @flat24 31 Aug

People should me more worried about a real thug getting your data and come to your house, kidnap you, torture you with the goal of taking your sats...

I totally agree and think that it is difficult for people to reach that level of thought. Most are too naive and grow that we live in a movie where everything is beautiful. I have emerged some occasional talks with relatives or strangers, where I mention that there are people whose day by day consists of kidnapping children, for others it is trying to steal the bitcoin of other people online, to kidnap and sell information from people with high bank profile or with a high profile in their Binance account, and that for many others their day to day is to obtain the information of those profiles and then go for them.

"When they listen to that they look at me as if the stupid was me and not them".

21 sats \ 1 reply \ @Fenix 4 Sep

This definitely worries me more than governments knowing how much I own. I've been using KYC at some exchanges precisely because "fuck gov" but this post made me think again.

0 sats \ 0 replies \ @flat24 6 Sep

Fortunately we every day become more aware of the danger of the KYC and especially the importance of privacy and care of our data as much as possible.

21 sats \ 1 reply \ @sox 31 Aug

The danger of KYC is that your personal information get into various hands, by selling it (without your consent !) and used for various purposes.

It's not even only selling data, it's a real safety danger. Just look at what happened with the infamous Tea app:

Claims were made that its backend database was completely unsecured and without a password or any form of data encryption.

69 sats \ 0 replies \ @DarthCoin OP 31 Aug

oh yeah, that's the "bonus" :)

21 sats \ 0 replies \ @hasherstacker 30 Aug

The danger of KYC is that your personal information get into various hands, by selling it (without your consent !) and used for various purposes. Very interesting story and how the system is fooling you, the final user.

0 sats \ 2 replies \ @moptosh 1 Sep

even with maxis like Bull Bitcoin?

10 sats \ 1 reply \ @DarthCoin OP 3 Sep

If they use a 3rd party for KYC verification that means your info is already in hands of data brokers. Is not about the security or willingless of the exchange to leak your info. Is about who is doing that process and keep the data.

0 sats \ 0 replies \ @moptosh 7 Sep

Yes,It's often an open door to data resale.

0 sats \ 4 replies \ @d680ecaa8e 31 Aug

There is no danger for KYC for well known exchanges.

0 sats \ 3 replies \ @DarthCoin OP 31 Aug

wrong. all KYC information end up in the hands of data brokers...

0 sats \ 2 replies \ @d680ecaa8e 31 Aug

Let's get a small example you can't exchange at bitget com without pass KYC or even coinbase com, without KYC you can't do anything on these sites

100 sats \ 1 reply \ @DarthCoin OP 31 Aug

coinbase LOL... who in the right mind is still using coinbase in 2025?! con base is the enemy of bitcoin, read more here: #807801

https://darth-coin.github.io/beginner/buy-bitcoin-en.html

0 sats \ 0 replies \ @d680ecaa8e 31 Aug

did not know this before this I will move funds away coinbase going to zap with 100 CC