A recently emerged service, OnlyFake, purporting to employ artificial intelligence (AI) neural networks and generators, has reportedly managed to circumvent Know Your Customer (KYC) verifications on multiple cryptocurrency exchanges. This service allows individuals to obtain fake driver’s licenses and passports convincingly for just $15 each.
OnlyFake offers fake IDs from 26 countries, including the United States, Canada, the United Kingdom, Australia, and various European Union nations. It accepts payments in various cryptocurrencies, facilitated by Coinbase’s commercial payments service.
The use of these counterfeit documents has raised concerns regarding potential exploitation by crypto scammers and hackers, who could leverage them to create exchanges and bank accounts while shielding their true identities. The pseudonymous owner of OnlyFake, known as “John Wick,” claims that these IDs can bypass KYC checks at popular exchanges such as Binance, Kraken, Bybit, Huobi, Coinbase, and OKX, as well as the crypto-accepting neobank Revolut.
In response to these allegations, OKX, one of the affected exchanges, firmly denies any involvement in or tolerance of fraudulent activities. They have launched an investigation in collaboration with external partners to address the issue and maintain stringent compliance standards.
OnlyFake defends its service by stating that it does not produce forged documents for illegal purposes; instead, its templates are intended for use in the entertainment industry, such as movies, TV shows, and web illustrations. Remarkably, generating a fake document on the site takes less than a minute, allowing users to upload their own photos or select one from a predefined library.
Furthermore, OnlyFake offers image metadata spoofing, enabling users to manipulate GPS location, date, time, and the device used for taking the alleged photo. This feature helps users pass identity verification services that rely on such data to establish authenticity.
The ease of accessing AI deep fake tools has heightened concerns among crypto industry professionals regarding the effectiveness of video verification methods employed in identity checks. Binance’s Chief Security Officer, Jimmy Su, warned of scammers attempting to deceive exchange KYC checks with convincing deep fake videos, potentially tricking human operators.
Despite the alarming claims from OnlyFake’s users, major cryptocurrency exchanges and platforms such as Binance, Kraken, Bybit, Bitget, Revolut, Huobi, and PayPal did not provide immediate responses when contacted for comments on these identity check bypass allegations.
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