U may create an account using stolen ID & fake bank details, because as long as u r not withdrawing, exchange can not verify the bank details. Now, u may deposit stolen money to exchange and withdraw it in bitcoin. Exchange will never no from which account(s) u r depositing till an FIR is lodged. By that time, the bitcoin is gone.
If you will provide fake bank details then how will you deposit funds into exchanges ? As per i know, every exchanges require money deposited from same bank account which you provided as KYC, you can't deposit funds using unknown bank accounts other than which is already linked to your account.