DeepfakeHigh
ProKYC Tool Allegedly Facilitates Deepfake-Based Account Fraud on Cryptocurrency Exchanges
- Occurred
- Oct 9, 2024
- Published
- Oct 9, 2024
- Source
- AI Incident Database
Summary
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.
Developers
- ProKYC
Deployers
- ProKYC
Harmed parties
- ByBit
- Cryptocurrency exchanges
- Cryptocurrency investors
Tags
- Crypto
- 2FA
- Deepfake
Classification
Category confidence: 95%
Severity confidence: 90%
Rationale: Tool enables deepfake-based fraud on crypto exchanges, causing financial harm and regulatory concerns.
Classifier: Qwen/Qwen3.5-35B-A3B-FP8