Utrust ICO.... Complete failur
I heard about Utrust from a friend and I did some research and I found that the idea and the product that they promote is incredible. The team seems to be very good.
Suppoman make them at the 5th place in the best ico available on November, but Ian (from hacking the system youtube channel) didn't even give them a rating because the team was very weak for him.
Even that, I decided to invest on the ico.
When I started the registration process, they added a note that every investor will need to complete a KYC (know your customer) to check the identity of investors and if they are not using a fake identity (at least this is what I understood) , but the KYC will be after the end of the ICO.
I said Ok, I'm not a scammer, I'm me, so everything will be good.
I invested a small amount and waiting for the end of the ICO.
Then problems start coming..
Before the end of the ICO, about 10 November, the team announced that they will reduce tokens from 1 000 000 000 UTK to 500 000 000. I said Ok, mabye that will mean more money for me even if they extend the ICO period for 10 days.
I was on the telegram group of Utrust and it's here where I discover that lot of people will simply lose their money.
The KYC was more complicated than expected,
- not everyone will be accepted to withdraw its tokens because not all countries are accepted.
- there is specifications about the documents that we need to show for every countries, ID for some, passports for others or driver licence for other countries.
- no refunds if the KYC fail!!!
For me, I need to provide a passport that I don't own, that mean I have to spend about 100$ to have one just to confirm the KNC, even if I don't have plans to leave my country, the passport is for Utrust only !!!!!!!!!!!!!
This so stupid, anyone else can buy the tokens from exchanges for nothing, but for me that helped in the project, I have to provide a passport!!!!
I'm not the only one who is victim of this, there is lot of peoole like me that can't take their tokens from the website, and they are all banned from the telegram group when they ask for a solution.
What the Utrust team said : it's your fault, you must first download and read the spreadsheet provided on the website.
What I say is: - they must start the KYC process before we invest.
- or they can at least write a note on the registration page like they did for USA citizens.
- or they just leave the job for another team.
But not for the graphic design team, they are the best lol