Financial controls in cryptocurrency and other segments are being thwarted by artificial intelligence
A new online service called OnlyFake claims to use artificial intelligence (AI) “generators” and “neural networks” to produce fake driver licenses and passports, and reports indicate its products have succeeded in passing Know Your Customer (KYC) checks on several cryptocurrency exchanges.
For $15, the site produces realistic fake passports and driver’s licenses from 26 countries, including the US, Canada, Australia, the UK and several EU countries. Payment can be made with multiple cryptocurrencies using the Coinbase commercial payments service.
404 Media disclosed on February 5 that it successfully passed KYC verification on the OKX crypto exchange using a British passport photo that was generated on the site.
Some users have shared their success on a Telegram channel, showing them using OnlyFake IDs to bypass verification at crypto exchanges and financial services, including Bitget, Huobi, Kraken, Bybit and PayPal.
The service could promote an increase in crypto scams and hacks and help protect the identity of criminals using fake documents to open crypto exchanges and bank accounts.
OnlyFake’s owner, who goes under the pseudo-name “John Wick,” told 404 Media that the IDs could bypass KYC checks at many crypto exchanges. However, the site stresses that it doesn’t “manufacture forged documents as it is illegal,” and its terms express that its “templates are only for use in movies, TV shows [and] web illustrations.”
OnlyFake also provides image metadata spoofing, enabling users to forge the GPS location, date and time of the alleged photo. Many identity verification services will verify time stamp data to authenticate IDs. Spoofing methods have long been used to access crypto exchanges to hide the scammer’s identity.
The easy access and widespread availability of AI deep fake tools have also raised concerns from crypto industry leaders on how adequate video verification is when used in identity checks.
