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How We Do KYC
9/27/2022

CertiK’s KYC service provides private identity and background verification for project teams through a rigorous vetting process while maintaining the highest standards of data protection.

Our experienced investigators verify hundreds of crypto development teams in order to deliver a “KYC Badge” to those who successfully go through our in-depth due diligence process. This badge increases accountability and trust in project teams, while reducing and mitigating the risk of fraud and abuse.

How We Do KYC

3 Simple Steps to KYC

Video-call: Once a project team applies for the badge, we arrange a video-call with the project primary owner or manager. Nothing needs to be prepared in advance of the call since the objective is to know each other and learn more about the background of the project and the team.

ID-check: After the video-call, key team members fill out a questionnaire and submit their IDs. This helps our intel analysts conduct their verifications and background checks. Personal information is kept strictly confidential by CertiK, and will never be shared publicly.

Review & Awards: Our investigators conduct in-depth background verifications. Once the process is completed and the KYC badge is approved, the team is officially informed, and a KYC badge is published on the Security Leaderboard. Additional awards can be granted every 90 days while the team progresses and gains more accountability and trust.

Benefits of the KYC Badge

Added Security - The CertiK KYC Badge adds an additional security layer to project owners. A comprehensive, in-depth verification of the team ensures more accountability, and reduces and mitigates the risk of fraud. Our process also allows early detection of malicious actors.

Privacy Protection - Since project teams can be targeted by malicious actors, CertiK ensures complete privacy and respects the anonymity of developers. We publish a KYC Badge showing that we know the team behind the project, but we don’t publish any personal information identifying the team. Trust & legitimacy- The reliability and integrity of the core team is of vital concern for communities, investors, launchpad/platforms, partners, and influencers who want to reduce operational, reputational, and legal risks.

Marketing Material - The CertiK KYC Badge can be used for marketing, as a proof of transparency and trustworthiness. The badge provides added visibility on the Security Leaderboard. A direct verification link can be shared on social networks and a verifiable KYC Emblem can be added to the project website.

KYC Awards

This feature is designed to reflect the fact that risk statistically decreases with time, while teams gain more trust and accountability by maintaining their project health over time. As a result, in addition to their KYC badge, teams will be reassessed every 90 days and can receive a higher KYC award based on their track record and an updated risk assessment. The details of each award are listed below:

CertiK KYC 1

Geographical Analysis

Project teams often work remotely, so the analysis of their geographical distribution is factored into the risk assessment. In order to protect the privacy of the team members, the locations of the team members are confidential and not displayed. As a means to remain neutral and unbiased, the geographical analysis we display is based on an aggregation of official international risk ratings. The results are detailed as follows:

CertiK KYC 2

Frequently Asked Questions

How can project teams apply for the KYC Badge? Project teams who want to apply for the CertiK KYC Badge can contact us here. CertiK is the leader and most trusted platform for Web3 security, and its KYC badge has the most reliable verification process.

How long does it take to be verified? Once the project primary project manager has been interviewed and the core team members have submitted their IDs, the verification process usually takes a week, depending on the size and complexity of the project team. Once a KYC badge is approved, the team is informed and the badge is displayed on the project's Security Leaderboard profile. This serves as verifiable proof of verification.

How does CertiK review applications for the KYC badge? Information provided by team members is verified by professional intelligence analysts and background investigators, using their investigative experience, a suite of best-in-class analysis tools and databases, and a list of verifications designed to identify, detect, and measure fraud signals.

What is the criteria to obtain the KYC badge? This specific verification and analysis process is not based on the quality or popularity of the project, but rather on the history, transparency and integrity of the team. The risk of fraud is assessed with an objective framework, and a proprietary list of key verification points, coupled with quantitative and qualitative signals.

What happens to teams who fail the KYC? We only announce projects that successfully pass the KYC badge - not the ones that fail the verification process. No fee shall be refunded under this circumstance. Projects who fail can appeal the decision and reapply after 60 days.

How can projects apply for an additional KYC award? All project teams can qualify for additional KYC awards every 90 days. You can track the time before the next review on the Leaderboard, directly on the project’s KYC card.

How does CertiK protect the team’s private information? CertiK security engineers developed technology to ensure the protection of your privacy. All personal information is kept strictly confidential and never publicly disclosed.

How can a KYC badge make Web3 safer? KYC badges allow communities and their partners to screen out dangerous projects launched by unverified teams. They can focus on verified teams, who are de-facto more transparent and accountable, thus reducing and mitigating the risk of fraud.

How does CertiK adapt to new fraud tactics? The blockchain industry is constantly evolving, as well as the techniques used by malicious actors to go around security processes and scam people. Our team of career intelligence analysts and law enforcement investigators are trained to identify and detect new criminal tactics and continuously enhance our fraud detection framework.

How can users report a scam or fraud? Victims of Web3 hacks and scams can report the event to CertiK via the Security Leaderboard. To do so, navigate to the project’s Security Leaderboard profile, click on the warning icon at the top right, and complete and submit the reporting form. Community alerts are shared in real-time via @CertiKAlert.

What happens to KYCed projects who are suspected of fraud, rugs, etc.? CertiK has a strict privacy policy and does not publicly disclose any personal information. Instead, CertiK cooperates with the appropriate law enforcement authorities to ensure they have all the information they need to prosecute the criminals. You can learn more with our disclaimer.

Does CertiK offer incident investigation services? CertiK’s engineers and experienced investigators offer crypto intelligence services to conduct full incident analysis and formally document and report crypto crimes to authorities.

What is the difference between CertiK KYC and a regular KYC? While a regular KYC can suffice when authorizing someone to open a bank account, it can be easily fabricated and is not sufficient to prevent crypto scams. The objective of the CertiK KYC is to thoroughly verify the team behind the project across many avenues unique to Web3 enterprises, and create a level of transparency and accountability that is proportional to the risk and the amount of funds at stake.

How to verify a KYC badge? In order to avoid fake KYC certificates, each CertiK KYC Badge is verifiable on the Security Leaderboard. We also issue KYC Emblems that can be embedded into the project’s website.