Is there risk of identity theft?

That is something only you can decide. There has been just one case of theft that has been publicized, where it was stated that Spadester used the password of a player (who was also an affiliate) to steal many accounts (e.g., Yahoo email) of that person. There have been other cases of blogs being mysteriously erased, but I have seen no documentation as to how that happened. However, I've only seen cases of "spadester is bad (or similar wording)" postings being mysteriously removed. It does not take much insight to figure out what has been happening.

There are also many oddities that some people find troublesome. Usually, ID is required when you open an account. Then you need to show ID to make withdrawals from your account. That makes sense. However, Spadester does not require any ID to open an account. For what purpose do they need your ID when you want to make a withdrawal from your account? There is nothing to compare it against.

Another oddity is the types of ID that Spadester asks from you. They'll want your social security number and an electronic copy of your signature, plus any number of other scanned IDs. Heck, they even asked me to send them copies of some of my IRS tax forms.

One more oddity is the relationship between Spadester and Payoneer. Any ID that you give to Payoneer will go to Spadester. [Payoneer Customer Support disputes this claim I've made; however, I do have proof. I am currently discussing this issue with Payoneer.] Payoneer does not care about your ID, but Spadester does. Payoneer will wait for Spadester to approve your ID before granting you a Payoneer card. I even received an email from Spadester, telling me that they told Payoneer to approve me.

Another oddity - Spadester sent me an email, stating that my ID information is automatically deleted by Spadester after 3 months. I don't believe it.

Another oddity - Why does the Spadester web page state that ID information only needs to be sent once, if Spadester is going to delete the ID information after 3 months?

One last oddity - Why does Spadester want your ID if they are not going to pay you anyway? What is Spadester going to do with your ID?

So, use your judgment before giving ID to anybody. I've received emails from Spadester with phrases like "trust me" or "I promise", but after doing as they request, the promises were never kept. Trust me :)