Growing concerns over identity verification tools on cryptocurrency exchanges have arisen due to the rise of artificial intelligence (AI). The creation of deepfake proofs of identity is becoming easier with rapidly evolving AI technology. Binance CEO Changpeng Zhao recently raised concerns about the use of AI in crypto by bad actors. Binance, like many other crypto exchanges, requires video evidence for processing certain transactions as part of its Know Your Customer (KYC) processes. The public exposure to AI generation tools like HeyGen could potentially cause serious identity verification issues for cryptocurrency exchanges like Binance.