ProKYC Tool Allegedly Facilitates Deepfake-Based Account Fraud on Cryptocurrency Exchanges
Cato CTRL security researchers reported that the cybercriminal group ProKYC is selling a deepfake tool capable of bypassing biometric and two-factor authentication (2FA) systems on cryptocurrency exchanges. The tool creates synthetic identities using AI-generated videos and forged documents, enabling fraudulent account creation. A demo video from ProKYC shows the tool in action against ByBit, allowing attackers to verify fake accounts for purposes such as money laundering and identity theft.
- Date it happened
- 2024-10-09
- Organisation involved
- ProKYC
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