• Fri. Sep 22nd, 2023



Certik experts opened the black market KYC


Jan 30, 2023

Certik experts opened the black market KYC

Cryptocurrency fraudsters have access to the “cheap and affordable” black market, whose participants are ready to pass the personality for them as part of the KYC procedures, Certik specialists found out.

In some cases, such “professional KYC actors” became persons of crypto projects to gain community confidence with subsequent insider hacks or eczit-scams.

This is mainly about the provision https://gagarin.news/news/should-we-fear-the-crypto-winter/ of data for opening bank accounts, exchange accounts and obtaining access to fiat gateways.

Analysts found about 20 underground marketplaces for hiring KYC actors, located mainly in Telegram and Discord. The price for the test starts from $ 8 for the simplest procedure, on average is $ 20-30.

The rates are growing depending on the complexity of verification requirements, and the services of participants from countries with low risk of money laundering are also highly valued. In a small number of cases, actors played the role of fraudulent project managers with payment up to $ 500 per week.

Most of the services providing services in this market live in developing countries with a high concentration in Southeast Asia, Certik noted. The experts rated its total volume, including sellers and buyers, at about 0.5 million participants. Marketplaces combine from 4,000 to 300,000 of them.

Experts recalled that there are more than 40 websites that provide services for checking crypto projects for the founders of personality verification and give out the so-called “KYC-BAIGI”.

According to Certik experts, the work of these sites “too superficial and amateur” to detect real threats. Given the black market, such confirmation is used by scammers to mislead community and investors, experts are sure.

Recall that for the third quarter the total losses of the Web3 ecosystem from hacks and fraud amounted to $ 428.7 million, calculated in Immunefi.

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