TechFlow reports, according to Cointelegraph, a new service called OnlyFake claims to use artificial intelligence "neural networks" and "generators" to create fake driver's licenses and passports that have successfully passed KYC checks at multiple cryptocurrency exchanges, all for a cost of just $15.
The website, named OnlyFake, generates counterfeit driver's licenses and passports from 26 countries, including the United States, Canada, the United Kingdom, Australia, and several European Union nations, accepting various cryptocurrencies through Coinbase's commercial payment services. Generating a fake document on the site reportedly takes less than one minute. This service could be a boon for cryptocurrency scammers and hackers, enabling them to open exchange and bank accounts using false identities, thereby protecting their real identities and making them harder to trace.
Telegram channels also show users sharing how they've successfully used these IDs to bypass verification processes at various crypto exchanges and financial service providers, including Kraken, Bybit, Bitget, Huobi, and PayPal.
However, the OnlyFake website claims it does not "produce forged documents, as this is illegal," and its terms state that its "templates are intended solely for use in movies, TV shows, and web illustrations."
