404 Media claims that the use of artificial intelligence technologies allowed the OnlyFake team to put on stream the production of realistic-looking photographs of fake identity cards for just $15. Experts said that this technological solution allows attackers to create a virtual identity, provide it with "reliable" documents, and then easily go through authorization and identification procedures on various cryptocurrency services.
Blockchain researcher, journalist and co-founder of 404 Media, Joseph Cox, told his subscribers on the social network X that he conducted a test, as a result of which OnlyFake created a very convincing California driver's license, supplemented with an arbitrary name, biographical data, address, expiration date and signature.
"The photo gives the impression that the ID card is lying on a fluffy carpet, as if someone put it on the floor and took a special picture, which is required on many sites for verification," Cox said.
He added that another version of the identity card generated by the site allowed him to successfully pass verification on the OKX crypto exchange. According to him, the owner of the OnlyFake website under the pseudonym John Wick stated that fake IDs generated by AI can successfully pass KYC ("Know your Customer") checks on other major crypto exchanges such as Binance, Kraken, Bybit, Huobi and Coinbase, as well as in cryptocurrency banks and payment services, for example, Revolut and PayPal.