Cybercriminals Use AI-Powered Deepfake Tool to Bypass KYC Systems on Crypto Exchanges
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Cybercriminals Use AI-Powered Deepfake Tool to Bypass KYC Systems on Crypto Exchanges In a concerning development within the cryptocurrency and cybersecurity sectors, cybercriminals are employing a sophisticated AI-powered deepfake tool named ProKYC to bypass Know Your Customer (KYC) measures on major cryptocurrency exchanges and payment platforms such as Stripe and Revolut. This alarming trend was revealed by cybersecurity firm Cato Networks, as reported by Cointelegraph. The ProKYC tool is designed to generate highly realistic deepfake images, videos, and even fingerprints of AI-generated individuals, seamlessly integrating these with government-issued ID templates to successfully evade facial recognition challenges. Notably, ProKYC is available for purchase as part of an annual subscription priced at $629. The Rise of ProKYC: An Overview ProKYC represents a significant advancement in deepfake technology, tailored specifically to exploit vulnerabilities in KYC systems employed by financial and cryptocurrency platforms. KYC procedures are essential for preventing fraud, money laundering, and other illicit activities by verifying the identities of users. However, the emergence of tools like ProKYC poses a substantial threat to the integrity of these systems, enabling malicious actors to create convincing fake identities that can deceive even the most advanced verification technologies. How ProKYC Operates The functionality of ProKYC is multifaceted, leveraging cutting-edge AI algorithms to create lifelike digital personas capable of passing stringent KYC checks. The tool operates through three primary components: Deepfake Image and Video Generation: Utilizing advanced machine learning techniques, ProKYC generates highly realistic images and videos of individuals who do not exist. These deepfakes are meticulously crafted to mirror the subtle nuances of real human appearances, making them nearly indistinguishable from authentic media. Fingerprint Synthesis: Beyond visual deception, ProKYC can produce artificial fingerprints. This capability allows cybercriminals to create comprehensive fake profiles that meet multi-factor authentication requirements, thereby bypassing biometric security measures. ID Template Integration: ProKYC…
Filed under: News - @ October 11, 2024 11:26 am