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By the way, this is has already been a way to circumvent KYC on crypto exchanges, as many use technology that analyzes a video of you with your ID. The crypto
by vmception 5y ago
By the way, this is has already been a way to circumvent KYC on crypto exchanges, as many use technology that analyzes a video of you with your ID.
The crypto exchanges are a much more benign use of deepfakes as they implement KYC primarily to deny users of certain countries out, and the user just wants to use their own funds to trade on the exchange. The crypto exchange is just covering its own ass here, and not getting things stolen from it.
Of course, any body with stolen funds that they want to trade or launder can also create fake accounts at these crypto exchanges using deep fake KYC.
But yeah, back to the article, traditional banks and exchanges have much lower tech verification technology. So its probably a better use of time to just heist them for larger sums via wire transfer, instead of trying to grow/launder a crypto balance.