Fake IDs created by AI are posing a significant threat to security measures at crypto exchanges, as revealed in a recent report by 404 Media. The underground website OnlyFake has emerged as a prominent player in this space, offering realistic-looking IDs generated using neural networks.
According to the report, 404 Media purchased a fake ID from OnlyFake for $15 and successfully bypassed identity controls at OKX, an exchange with a history of involvement in criminal activities. OnlyFake’s owner, known as John Wick, claimed that their IDs could also deceive identification protection measures at exchanges like Binance, Kraken, and Coinbase.
Despite attempts to reach out for comment, exchanges including OKX remained silent on the matter. While the use of false IDs to circumvent exchange security is not a new phenomenon, the accessibility and affordability of AI-generated IDs may exacerbate the problem.
Although OnlyFake’s Telegram channel admin stated that the site opposes illegal use of its generated images, concerns remain about the potential for fraudulent activities facilitated by these fake IDs. As crypto exchanges brace for this new wave of threats, the industry faces the challenge of staying ahead of evolving security risks in the crypto ecosystem.
