Crypto exchange OKX accepts fake IDs for registering, report says
OKX, a cryptocurrency exchange , is under scrutiny as report s suggest it might be accepting fake IDs for its Know-Your-Customer (KYC) verification process. Journalists from 404 Media have uncovered that OKX appears to be potentially failing to detect false information during user registration, allowing accounts with fabricated IDs to pass KYC checks. The investigation indicates that a web service, claiming to use “neural networks” to create realistic fake IDs for $15, helped successfully complete the identity verification process on OKX. According to the report , journalists tested OKX’s verification process using a fake British passport generated by the web service, revealing vulnerabilities in OKX’s KYC/AML (Anti-Money Laundering) systems. While OKX’s verification partner, Jumio, highlighted its robust verification process to identify fake profiles, it refrained from commenting on OKX’s specific procedures when confronted with allegations of acc...