Binance, a leading cryptocurrency exchange, has issued a warning about the increasing threat of deepfake technology in crypto fraud. Deepfakes, created using artificial intelligence tools, can mimic a person's appearance and behavior with highly convincing audio, images, or videos. Fraudsters are exploiting this technology to bypass KYC verification processes by generating realistic videos using deepfake tools. Although deepfake technology poses a significant challenge, Binance is taking steps to address this by educating users on identifying and combating cyber threats effectively. It is crucial for both cryptocurrency exchanges and users to remain vigilant against sophisticated fraud attempts.
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