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Cybercriminals and fraudsters are relying on artificial intelligence (AI) to create fake IDs with which they can circumvent the know-your-customer (KYC) protocol of bitcoin (BTC) and cryptocurrency exchanges, such as OKX, Binance, Coinbase, and more.
An investigation by American journalist Joseph Cox revealed that the website called OnlyFake is dedicated to producing passports, driver's licenses, and other types of personal identification from at least 26 countries around the world. To do this, they rely on AI-based tools and charge USD 15 for each counterfeit.
"OnlyFake essentially allows anyone to generate fake IDs in minutes that can look real enough to bypass various online verification systems. Or at least deceive some people," warns the researcher.
According to the investigation, the process to obtain a fake ID through OnlyFake is summarized in entering the website, entering the personal information that will appear on the document, uploading a photo of the passport or document to be forged and, finally, choosing a signature.