OnlyFake’s ‘deepfake’ platform developed an amazing ability: create up to 20,000 fake and realistic passports and IDs every day using Artificial Intelligence (AI). These documents can circumvent the verification systems of cryptocurrency buying and selling platforms.

In recent months, AI has made significant progress, finding applications in various areas, such as detecting and removing fake reviews on e-commerce sites, as well as generating text and images that mimic human reasoning.

However, cybercriminals have also taken advantage of this technology to carry out malicious campaigns, including mass creation of ‘deepfake’ images and victimization of people in scams via fraudulent video calls.

The counterfeiting methods used by these criminals are extremely sophisticated. They can even produce realistic-looking photographs with fake IDs, such as passports or driver’s licenses, according to the 404 Media portal.

The work of these cybercriminals has been so efficient that they have managed to pass off as authentic official identifiers from up to 26 countries, including the United States, the United Kingdom, Canada, Australia and several countries of the European Union. Using these identifiers, they have made cryptocurrency exchanges through services such as Coinbase, Binance, Huobi and OKX, among others.

This success is due to the fact that these identity documents have managed to evade the verification system used by these platforms, known as ‘Know Your Customer’ (KYC), which verifies the identity of the customers and guarantees their compliance with the laws and regulations in force in each country.

K. Tovar

Source: PetaPixel

(Reference image source: Austin Dustel at Unsplash)

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La entrada Detected a system capable of circumventing protocols of buying and selling cryptocurrencies apareció primero en Bitfinance.