TechFlow news, October 11 — Cybersecurity firm Cato Networks said a new AI-powered deepfake tool called ProKYC can now bypass KYC measures at cryptocurrency exchanges, marking a "new level" in crypto fraud.
Etay Maor, Cato's chief security strategist, stated the tool does not require forged identification documents and can generate fake identities to pass facial recognition systems used by exchanges. A video demonstration provided by ProKYC shows how the tool creates forged ID documents along with accompanying deepfake videos to successfully pass facial recognition challenges employed by one of the world’s largest cryptocurrency exchanges.
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