Summary
OnlyFake, an underground website, employs neural networks to swiftly produce convincing fake IDs for just $15, potentially facilitating bank fraud and money laundering. Verified by 404 Media, the service allows users to input desired information and a passport photo, generating realistic IDs, even mimicking signatures. With its purported use of neural networks and generators, OnlyFake claims to churn out up to 20,000 documents daily, mainly for US identities. The IDs, backed by real-looking backgrounds, can pass online verification, posing challenges to platforms like OKX cryptocurrency exchange. While some companies, such as Jumio and Coinbase, aim to counter such fraud, OnlyFake’s AI-powered IDs present a formidable challenge. Wick, the service’s owner, aims to expand its capabilities, potentially including face and selfie generation. Discussions within OnlyFake’s community suggest a pursuit of solutions for video verification challenges. Senator Ron Wyden warns of the growing threat posed by AI-based tools, urging the adoption of secure authentication methods. This revelation comes amidst a broader trend of AI-driven fraud, exemplified by AI-generated voices and images, highlighting the need for robust cybersecurity measures.
I agree that money is what people say money is, but if it’s too volatile, it may still be a good asset, but bad currency.
I use Monero, which moves about 15% from its one year simple moving average before reverting. And while that is quite a large move for somebody from the United States, for people from other countries that is not a very bad move, but I do see your point. I base my expenses off of the one-year moving average and save some for when the price is below that and I need to use a little extra.