As known from:
known from Coinwireknown from Benchknown from Coinindex
  • About CryptoGmblr.com
Contains commercial content
Cryptogambling / Advancements in AI Deepfakes Pose Challenges for KYC Verification, Says Binance Executive

Advancements in AI Deepfakes Pose Challenges for KYC Verification, Says Binance Executive

Adeyemi
Adeyemi
Publish Date: 25/05/2023

The advancement in AI has been celebrated over the last couple of months in the technology ecosystem. The Blockchain industry was not left out as some innovators in the space have been leveraging AI to advance the adoption of Blockchain.

However, there are fears some unscrupulous characters have been using AI in an unethical way. Earlier this year, Geoffrey Hilton, the Google AI researcher resigned over his fears that the technology poses some dangers.

Aligning with this sentiment is one of the executives at Binance. Jimmy Su, Binance’s Chief Security Officer, stated that the technology is advancing to such an extent that deepfakes could soon become undetectable by a human verifier.

Binance’s chief security officer warns that crypto fraudsters are utilizing deepfake technology to surpass know-your-customer (KYC) verification on crypto exchanges like Binance, and he emphasizes that it will continue to advance further.

Deepfakes, which employ artificial intelligence tools and machine learning, generate authentic-looking audio, images, or videos resembling a specific individual. While the technology does have legitimate applications, it is also prone to exploitation for scams and hoaxes.

Dangers posed in the future

Earlier this year a Twitter user posted a  deep fake video of Binance CEO, Changpeng Zhao talking about how to contact a customer service representative on Telegram. The Username in question has no affiliation with the largest crypto exchange in the world in terms of trading volume.

DigitalMicropreneur.eth
2023-05-24 20:44
Deep fake AI poses a serious threat to humankind, and it’s no longer just a far-fetched idea. I recently came across a video featuring a deep fake of @cz_binance , and it’s scarily convincing. https://t.co/BRCN7KaDgq
488 103

In a largely unregulated industry and a lot of phony projects coming up daily, acts like this can lead to more scams.

Scammers can use the video of popular and trustworthy people in the industry to shill their projects and will have unsuspecting crypto enthusiasts rugged.

In August 2022, Binance’s chief communications officer, Patrick Hillmann, issued a warning regarding the actions of a “sophisticated hacking team” that utilized his previous news interviews and TV appearances to fabricate a “deepfake” version of himself. Subsequently, this deepfake impersonator of Hillmann was employed to engage in Zoom meetings with multiple crypto project teams, deceitfully offering them a chance to have their assets listed on Binance in exchange for a fee.

Patrick Hillmann
2023-05-24 20:44
Hackers created a “deep fake” of me and managed to fool a number of unsuspecting crypto projects. Crypto projects are virtually under constant attack from cybercriminals. This is why we ask most @binance employees to remain anonymous on LinkedIn. https://t.co/tScNg4Qpkx
7 8

A plausible solution

Looking at the advancement in AI, as regards most videos, with due diligence it is easy to detect when a video is fake, there’s always something that doesn’t seem right. This can be the movement of the lips, head or the voice being faster than normal.

It is crucial to educate users about the risks linked to AI-based fraud in the crypto space. By promoting awareness about the implications of deepfakes and emphasizing the need for caution when engaging with online platforms, users can become more vigilant and less susceptible to scams. Educators and industry stakeholders should actively disseminate information about these risks, ensuring that users are equipped with the knowledge to recognize and mitigate potential AI-based fraud. Empowering users through education creates a proactive approach to safeguarding their investments and personal information, fostering a more secure and resilient crypto ecosystem.

Latest News
SEC escalates crypto crackdown with lawsuits against Coinbase, Binance
The U.S. Securities and Exchange Commission has filed ...
Louis Vuitton unveils new luxury phygital NFT
Luxury brand Louis Vuitton is venturing into the ...
Warner Bros. introduces NFT bundles for 1978’s ‘Superman: The Movie’
Warner Bros. Home Entertainment has unveiled the latest ...
Top Crypto Exchange Sites
Crypto Exchange Guide
  • Crypto Exchanges
  • Betting Exchange
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.6/5
Fortune Coins
Fortune Coins
Fortune Coins Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
BetRivers.net
BetRivers.net
BetRivers.net Review
4.4/5
Stake.us
Stake.us Bonus
5% Rakeback
T&Cs apply
4.6/5
Wow Vegas
Wow Vegas Bonus
30 SCs on 1st Purchase + 4.5 SCs FREE
T&Cs apply
4.6/5
Fortune Coins
Fortune Coins Bonus
Get up to GC 360,000 + Free FC1,000
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
LC 10,000 for Registration
T&Cs apply
4.5/5
BetRivers.net
BetRivers.net Bonus
Daily Rewards up to 10k VC$
T&Cs apply
4.4/5

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Move to Top
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site