Can USA’s Number One Crypto Exchange thwart Deepfake Deception with INFINITY?

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Big news! Kraken is diving headfirst into Eightco’s INFINITY authentication platform. Can this newfangled system save us from the dastardly clutches of AI-enabled fraudsters? 🚀

They’re playing their cards close to their feathery chests about how long this pilot will run-or whether there’s a secret handshake involved for evaluation criteria. Who knows?

Oh, the Compliance Blues

Kraken juggles a hefty twelve regulatory registrations and licenses. And mind you, they’ve got more dance partners than anyone else-we’re talking registering with FinCEN in the US and FINTRAC in Canada. Yep, even crypto has its prom night. To stay in this high-society party, everyone has to prove they’re who they say they are with KYC-a process more convoluted than deciding what to wear on a date.

Last December, the EU’s Transfer of Funds Regulation went all-in to make sure crypto asset providers play nice and tell everyone about who sent and received the digital cash. Probably just like when you make your best friend hide the pizza delivery menu, right? Though Kraken’s playbook is mainly about US operations, this authentication saga spans a globe of different rules-kind of like trying to find a common language with your grandma and your teenage cousin at Christmas.

And just when you thought crypto could chill with stricter oversight, BAM! 2024 and early 2025’s high-profile enforcement actions had even ruder houseguests arrive uninvited. Cue the dramatic violins. 🎻

Fake You! AI-Enabled Fraud Dares Identities

It’s quite the scandal! In 2024, one in four fraudulent crypto exchange registrations were put on by synthetic identities, likely crafted by AI that even Beyoncé without her makeup couldn’t spot as fake. These clever little bots are swirling at an alarming rate of 60% for directing deposits into scam wallets. If they weren’t so crime-y, they’d have gone viral. 🕵️‍♀️

Deepfake tech is the secret scandalous sauce that oil the synthetic identity pot. With such wily smooth operators bypassing document verifications and biometric checks, it’s like playing a game of Clue but with unseen masking agents. So, in winter come, INFINITY rolls in like the knight in digital armor, declaring itself a “trust layer”-but shhh, it’s keeping quiet about exactly how it pulls off this tech wizardry. ❄️

The knights-at-IT, or whoever needs to show ID at the crypto castle, includes backers ranging from the infamous BitMine to Worldcoin, who are painting significant murals of the company’s royal treasury. But you know, adopting new technology is always an ages-long parade, never mind it’s the cool tech cat strutting down the block.

Who’s Paying the Piper?

Eightco is surrounded by an A-list of backers. Like a greatest-hits album, they’ve got everyone from BitMine to GSR. Hmm, only it seems to place Worldcoin-some possibly future-listener-at the top spot. You can almost hear the record scratches. 📀

🚨 BREAKING: Kraken links up with Eightco’s INFINITY, aiming for a digital hug of human identity verification across the fintech landscape. And remember folks-Worldcoin is not just on the guestlist but stroking the company’s ego.

👉 Tenacity keeps Eightco exploring new social circles-sports, shopping, energy, and healthcare-though they’re keeping their business dates under wraps for now.

Questions, Questions! Where Do We Stand?

Details about INFINITY’s implementation are hush-hush, including potential costs, integration details-maybe even whether it’ll pass a coffee run test. Kraken isn’t spilling the beans on whether this is a party for all-or just a VIP affair for a subset of users. 🤫

While adding new layers of authentication is all trendy, it’s also akin to lining up IKEA furniture without the manual while carrying balloons-cumbersome and not exactly raking in the likes. By themselves, compliance wizards cover more than a quarter of Kraken’s workforce. You’d think they were preparing for wizard chess Olympiad. But shh, these new authentication fellows will need to charm everyone if they want to be part of the regular royal court.

Whether INFINITY will become Kraken’s grand standard post-pilot will be decided by whether users find it more charming than a surprise ice bath on a summer day. Talk about mixing realities, only Wi-Fi connections will know for sure if the numbers add up later. Until then, we wait…with popcorn. 🍿

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2025-10-31 09:12