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Market
New regulations on AI tools like ProKYC by March 2025?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Official publications from regulatory bodies such as the SEC or equivalent international bodies
Story
AI Tool ProKYC Bypasses Exchange KYC Checks, Warns Cato Networks
Oct 11, 2024, 07:40 AM
A new AI-powered deepfake tool called ProKYC is enabling users to bypass Know Your Customer (KYC) verification processes on cryptocurrency exchanges. According to cybersecurity firm Cato Networks, the tool allows fraudsters to circumvent rigorous identity checks by generating realistic fake identities, posing a significant challenge to exchange security measures. Previously, fraudsters relied on forged ID documents purchased on the dark web, but ProKYC is revolutionizing the crypto fraud landscape by streamlining the creation of new identities.
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Yes • 50%
No • 50%
Yes • 50%
No • 50%
Binance • 25%
Coinbase • 25%
Kraken • 25%
Other • 25%
United States • 25%
United Kingdom • 25%
European Union • 25%
Other • 25%
Yes • 50%
No • 50%
Lawsuit by a crypto exchange • 25%
Government regulation • 25%
International ban • 25%
No major legal action • 25%
More stringent regulations • 25%
Less stringent regulations • 25%
No significant change • 25%
Regulations become more ambiguous • 25%