PLATFORM OFFERS FAKE KYC FOR $15, RISKS CRYPTO EXCHANGES 

A new tool called OnlyFakes claims to use AI to produce fake IDs capable of bypassing KYC checks, according to recent research by cybersecurity reporters at 404 Media. The tool can generate fake documents with or without backgrounds, mimicking the appearance of user-submitted IDs during verification processes. Allegedly, hundreds of fake documents can be generated simultaneously using Excel batches.

OnlyFakes purportedly prohibits illegal use of its services, stating they are intended for use as props in films. However, feedback on associated Telegram groups suggests otherwise, with the platform’s owner, known as John Wick, expressing interest in purchasing scans of real IDs to enhance the platform’s capabilities, particularly focusing on US and EU IDs.

While the use of third parties to submit documents for KYC has long been a concern, OnlyFakes stands out for its ability to reliably provide fake documents from low-risk countries. Users can upload their own photos or select from a provided gallery, with stock backgrounds also available. Notably, OnlyFakes removes original photo metadata to evade detection.

According to users, platforms like Airbnb, Revolut, and various crypto exchanges have been duped by these fake documents. Despite these claims, Jumio, a KYC provider for OKX, emphasized their robust verification process to deter fraudulent activity.

The platform asserts that AI is utilized to generate images, though cybersecurity experts dispute this claim, citing inconsistencies in text clarity and the absence of typical AI artifacts in the produced images.

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