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False IDs Generated by Artificial Intelligence Bypass KYC Checks on Cryptocurrency Exchanges
False identification documents generated by artificial intelligence are now passing through Know Your Customer (KYC) checks on several cryptocurrency exchanges. This new development raises concerns that it could provide hackers and fraudsters with a new advantage in the realm of cybercrime. These false identification documents are readily available for as little as $15, increasing the risk of their misuse.
Artificial Intelligence and Fake Document Generators
A new service utilizing "neural networks" and "generators" of artificial intelligence can create realistic fake driver's licenses and passports from 26 different countries, including the United States, Canada, the United Kingdom, Australia, and several European Union member states. What's even more alarming is that this service accepts payments in various cryptocurrencies through the commercial payment service Coinbase.
How Does It Work?
A report from 404 Media, dated February 5th, details a case where individuals successfully circumvented the KYC verification process of the cryptocurrency exchange OKX. How did they do it? Simply by uploading a photograph of a British passport generated by this new service. The resulting photograph appeared as if the ID card was placed on a bedsheet, creating the illusion of a recently taken picture.
Widespread Usage Across Various Platforms
A Telegram channel, showcases numerous examples of individuals who have successfully used these false identification documents to bypass verification on various cryptocurrency exchanges and financial services. Among these platforms are exchanges like Kraken, Bybit, Bitget, Huobi, and even PayPal.
Potential Risk for Crypto Fraudsters and Hackers
This new service could pose a significant challenge for crypto fraudsters and hackers. They could use it to create false identities and subsequently open accounts on cryptocurrency exchanges and banks, concealing their true identities and complicating their detection. This could lead to further complications for authorities monitoring crypto transactions.
Responses from Exchanges and Companies
As the report notes, cryptocurrency exchanges such as Binance, Kraken, Bybit, Bitget, Revolut, Huobi, and PayPal have not yet provided any comments regarding these claims of circumventing their identity checks. It is possible that they will need to take steps to strengthen their KYC processes to safeguard the security of their platforms and users against this new risk.
#ai #crypto #kyc
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Artificial Intelligence and Fake Document Generators
A new service utilizing "neural networks" and "generators" of artificial intelligence can create realistic fake driver's licenses and passports from 26 different countries, including the United States, Canada, the United Kingdom, Australia, and several European Union member states. What's even more alarming is that this service accepts payments in various cryptocurrencies through the commercial payment service Coinbase.
How Does It Work?
A report from 404 Media, dated February 5th, details a case where individuals successfully circumvented the KYC verification process of the cryptocurrency exchange OKX. How did they do it? Simply by uploading a photograph of a British passport generated by this new service. The resulting photograph appeared as if the ID card was placed on a bedsheet, creating the illusion of a recently taken picture.
Widespread Usage Across Various Platforms
A Telegram channel, showcases numerous examples of individuals who have successfully used these false identification documents to bypass verification on various cryptocurrency exchanges and financial services. Among these platforms are exchanges like Kraken, Bybit, Bitget, Huobi, and even PayPal.
Potential Risk for Crypto Fraudsters and Hackers
This new service could pose a significant challenge for crypto fraudsters and hackers. They could use it to create false identities and subsequently open accounts on cryptocurrency exchanges and banks, concealing their true identities and complicating their detection. This could lead to further complications for authorities monitoring crypto transactions.
Responses from Exchanges and Companies
As the report notes, cryptocurrency exchanges such as Binance, Kraken, Bybit, Bitget, Revolut, Huobi, and PayPal have not yet provided any comments regarding these claims of circumventing their identity checks. It is possible that they will need to take steps to strengthen their KYC processes to safeguard the security of their platforms and users against this new risk.
#ai #crypto #kyc
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🔔 According to Certik's survey, a total of more than 500,000 people have become buyers or sellers in the fake KYC services. The price of a KYC actor can be as low as $8, mostly in Southeast Asia.
#certik #kyc #millennial
✅ https://mp.weixin.qq.com/s/9CfEDqE4lixQrrUAyMfWvA
#certik #kyc #millennial
✅ https://mp.weixin.qq.com/s/9CfEDqE4lixQrrUAyMfWvA
New to Binance?
Here’s what to do first: KYC.
And here’s how 🔽
What is KYC?
‘Know Your Customer' (KYC) is a process where you verify your identity on Binance. It's like showing your ID to prove who you are.
How to Complete KYC on Binance:
Log into Binance: Go to your account.Find KYC Verification: Look for the verification section. Provide Information: Give your name, address, and date of birth. Submit Documents: Upload a photo of your ID (like a passport or driver's license) and a selfie.
Wait for Verification:
Binance will check your documents. It usually takes a few days.Why is KYC Important?Security: It helps keep your account safe from fraud.Legal: Binance follows laws to prevent illegal activities like money laundering.
🙌🏻 Merits of KYC:
- Increased Limits: Verified accounts can withdraw and trade more.
- Access to Services: Some Binance services need KYC.
- Security: Reduces the chance of identity theft.
☠️ Demerits of KYC:
- Privacy Concerns: You share personal info with Binance.
- Time-Consuming: It takes time to get verified.
- Possible Data Risk: If Binance gets hacked, your data might be at risk.
Remember, KYC is a key step to securely use Binance and access all its features.
#binance #kyc #Newbies
Here’s what to do first: KYC.
And here’s how 🔽
What is KYC?
‘Know Your Customer' (KYC) is a process where you verify your identity on Binance. It's like showing your ID to prove who you are.
How to Complete KYC on Binance:
Log into Binance: Go to your account.Find KYC Verification: Look for the verification section. Provide Information: Give your name, address, and date of birth. Submit Documents: Upload a photo of your ID (like a passport or driver's license) and a selfie.
Wait for Verification:
Binance will check your documents. It usually takes a few days.Why is KYC Important?Security: It helps keep your account safe from fraud.Legal: Binance follows laws to prevent illegal activities like money laundering.
🙌🏻 Merits of KYC:
- Increased Limits: Verified accounts can withdraw and trade more.
- Access to Services: Some Binance services need KYC.
- Security: Reduces the chance of identity theft.
☠️ Demerits of KYC:
- Privacy Concerns: You share personal info with Binance.
- Time-Consuming: It takes time to get verified.
- Possible Data Risk: If Binance gets hacked, your data might be at risk.
Remember, KYC is a key step to securely use Binance and access all its features.
#binance #kyc #Newbies
Hypersign and Chainlink are two projects that are working together to create a new way of verifying the identity of users on the blockchain, without compromising their privacy or security. This is called On-Chain KYC, which stands for Know Your Customer
#Chainlink #hypersign #kyc #onchain
#Chainlink #hypersign #kyc #onchain
#India has brought #cryptocurrency transactions under the purview of its anti-money laundering law, requiring crypto exchanges to follow Know Your Customer (KYC) and other reporting obligations. This move aims to curb illegal activities involving cryptocurrencies.
#kyc #BTC
#kyc #BTC
I went to say that i spent almost 2.61B on the updation of kyc for 25 level and im thing that i just won the whole world after upgrading but i felt broke when i see this.
Who is this guy or may be guys mind blowing men 🤯 TOP (G) guys 🗿💀
#BinanceSquareFamily #HamsterKombat #kyc #telegram #binance
Who is this guy or may be guys mind blowing men 🤯 TOP (G) guys 🗿💀
#BinanceSquareFamily #HamsterKombat #kyc #telegram #binance
Attention ! 🛑
⚠️ if you don't follow this rule, your Binance Account could ban permanently 🚷
🚨 Attention: Binance to Implement Stricter KYC Rules 🚨
📆 Beginning in April, users without complete KYC details will lose access to their Binance Link sub-accounts.
💼 This change impacts all sub-accounts, including those solely for crypto deposits.
🔗 Launched in September 2019, the Binance Link program enables businesses to expand using Binance's technology, offering a seamless API to exchanges, asset managers, trading bots, and crypto wallet providers.
📝 Moving forward, Exchange Link account holders must provide KYC information, such as fund sources and proof of address, to maintain services.
💰 Sub-accounts lacking full KYC verification will face restrictions, prohibiting new orders and margin trading. Assets in these accounts may also be frozen.
🔒 Binance emphasizes compliance and security amidst global regulatory scrutiny, prompting these proactive measures.
🌍 These changes align with Binance's commitment to user safety and regulatory compliance.
#Binance #kyc #BullorBear
⚠️ if you don't follow this rule, your Binance Account could ban permanently 🚷
🚨 Attention: Binance to Implement Stricter KYC Rules 🚨
📆 Beginning in April, users without complete KYC details will lose access to their Binance Link sub-accounts.
💼 This change impacts all sub-accounts, including those solely for crypto deposits.
🔗 Launched in September 2019, the Binance Link program enables businesses to expand using Binance's technology, offering a seamless API to exchanges, asset managers, trading bots, and crypto wallet providers.
📝 Moving forward, Exchange Link account holders must provide KYC information, such as fund sources and proof of address, to maintain services.
💰 Sub-accounts lacking full KYC verification will face restrictions, prohibiting new orders and margin trading. Assets in these accounts may also be frozen.
🔒 Binance emphasizes compliance and security amidst global regulatory scrutiny, prompting these proactive measures.
🌍 These changes align with Binance's commitment to user safety and regulatory compliance.
#Binance #kyc #BullorBear
Crypto speak: KYC
Short for “Know Your Customer,” KYC is a verification process businesses conduct to identify their customers and clients.
Most CEXs require users to complete KYC verification to identify the user and comply with regional laws, which also makes the platforms safer.
The process only takes a few minutes, with the CEX requesting a photo ID and a selfie.
Meanwhile, one of the biggest advantages of DEXs is the lack of KYC requirements.
#kyc #DEXs #ftt #TradeNTell #ORDI
$FTT $FIL $FTM
Short for “Know Your Customer,” KYC is a verification process businesses conduct to identify their customers and clients.
Most CEXs require users to complete KYC verification to identify the user and comply with regional laws, which also makes the platforms safer.
The process only takes a few minutes, with the CEX requesting a photo ID and a selfie.
Meanwhile, one of the biggest advantages of DEXs is the lack of KYC requirements.
#kyc #DEXs #ftt #TradeNTell #ORDI
$FTT $FIL $FTM
🛑 STOP SCROLLING! WHY KYC CAN BE DANGEROUS!!! 🛑
⛔ Read the full post, as this is an important one:
"KYC is the act of throwing 99 innocent people under the bus in order to make law enforcement's job catching 1 bad guy a little easier. The 99 shouldn't tolerate it."
The picture shows what I recently found on Twitter.
Why should you care and what should/shouldn't you do?
Leaked KYC data makes you vulnerable to attacks like sim-swaps, which allow attackers to bypass your 2FA security, but also comes with even bigger danger.
Leaked documents can lead to scammers opening online bank accounts in your name, taking loans & putting you into a horrible financial situation.
Deepfakes and simple Epson printers with ID card printing features make it possible to even fake real-time online verification processes.
Conclusion:
Be EXTREMELY cautious where you submit your KYC information. If small, not properly secured projects require KYC for crypto allocations and similar, remember that you're making yourself vulnerable the moment you submit your data.
You can never be sure that your data is encrypted and saved in a secure spot. You just can NEVER be sure.... so IF you submit KYC data, make sure that you don't do it left, right, center wherever you go, but only provide big, trustworthy and well established companies with these kind of details.
You will thank me later.
Follow @Professor Mende - Bonuz Ecosystem Founder for more!
#scamalert #kyc #phishing #scams #hacking
$PEPE $FLOKI $SHIB
⛔ Read the full post, as this is an important one:
"KYC is the act of throwing 99 innocent people under the bus in order to make law enforcement's job catching 1 bad guy a little easier. The 99 shouldn't tolerate it."
The picture shows what I recently found on Twitter.
Why should you care and what should/shouldn't you do?
Leaked KYC data makes you vulnerable to attacks like sim-swaps, which allow attackers to bypass your 2FA security, but also comes with even bigger danger.
Leaked documents can lead to scammers opening online bank accounts in your name, taking loans & putting you into a horrible financial situation.
Deepfakes and simple Epson printers with ID card printing features make it possible to even fake real-time online verification processes.
Conclusion:
Be EXTREMELY cautious where you submit your KYC information. If small, not properly secured projects require KYC for crypto allocations and similar, remember that you're making yourself vulnerable the moment you submit your data.
You can never be sure that your data is encrypted and saved in a secure spot. You just can NEVER be sure.... so IF you submit KYC data, make sure that you don't do it left, right, center wherever you go, but only provide big, trustworthy and well established companies with these kind of details.
You will thank me later.
Follow @Professor Mende - Bonuz Ecosystem Founder for more!
#scamalert #kyc #phishing #scams #hacking
$PEPE $FLOKI $SHIB
🚨 AI-Powered Tool Breaks KYC Protocols!
A new AI deepfake tool called ProKYC is taking crypto fraud to a whole new level of sophistication. It enables cybercriminals to bypass even the toughest Know Your Customer (KYC) checks on some crypto exchanges and financial platforms. According to cybersecurity firm Cato Networks, this tool is a game-changer for scammers looking to create fake identities out of thin air, making it easier than ever to open fraudulent accounts.
Forget the days of buying fake IDs off the dark web—ProKYC allows bad actors to generate AI-powered identities, complete with realistic facial animations and deepfake videos. It can pass high-level KYC processes that involve matching live webcam images to government-issued IDs like passports or driver's licenses.
🔍 How Does ProKYC Work?
ProKYC creates an AI-generated face and inserts it into a fake ID template.
It then uses a deepfake video to match the AI-generated face with the user’s real-time webcam image, allowing scammers to bypass verification processes used by major exchanges like Bybit.
It’s not just crypto exchanges at risk—payment platforms like Stripe and Revolut could also be vulnerable.
While the tech is groundbreaking for fraudsters, it’s a nightmare for exchanges trying to maintain security. Overly strict biometric systems could cause false positives, and too lax systems let scammers slip through unnoticed.
That's exactly why we need blockchain technology and proof-of-humanity! Of course Bonuz and IDSign together will solve such problems too.
Stay updated with @Professor Mende - Bonuz Ecosystem Founder and drop a follow for more updates!
#SCAMalerts #fraudalert #scam #fraud #kyc
A new AI deepfake tool called ProKYC is taking crypto fraud to a whole new level of sophistication. It enables cybercriminals to bypass even the toughest Know Your Customer (KYC) checks on some crypto exchanges and financial platforms. According to cybersecurity firm Cato Networks, this tool is a game-changer for scammers looking to create fake identities out of thin air, making it easier than ever to open fraudulent accounts.
Forget the days of buying fake IDs off the dark web—ProKYC allows bad actors to generate AI-powered identities, complete with realistic facial animations and deepfake videos. It can pass high-level KYC processes that involve matching live webcam images to government-issued IDs like passports or driver's licenses.
🔍 How Does ProKYC Work?
ProKYC creates an AI-generated face and inserts it into a fake ID template.
It then uses a deepfake video to match the AI-generated face with the user’s real-time webcam image, allowing scammers to bypass verification processes used by major exchanges like Bybit.
It’s not just crypto exchanges at risk—payment platforms like Stripe and Revolut could also be vulnerable.
While the tech is groundbreaking for fraudsters, it’s a nightmare for exchanges trying to maintain security. Overly strict biometric systems could cause false positives, and too lax systems let scammers slip through unnoticed.
That's exactly why we need blockchain technology and proof-of-humanity! Of course Bonuz and IDSign together will solve such problems too.
Stay updated with @Professor Mende - Bonuz Ecosystem Founder and drop a follow for more updates!
#SCAMalerts #fraudalert #scam #fraud #kyc