AI-enabled Crime in the Cryptoasset Ecosystem
New Dimension to Crypto Crime Problem
According to blockchain intelligence firm Elliptic, AI can bring a new dimension to the crypto crime problem by allowing scammers to more easily impersonate celebrities. Artificial intelligence has the potential to transform the global economy, but it also poses significant risks by enabling new forms of crypto crime.
AI-enabled Crime in the Cryptoasset Ecosystem
In a recent research report, Elliptic highlighted that threat actors are already exploiting AI for illicit activities. The report warns that AI can be used to create convincing deepfakes of celebrities, politicians, and industry leaders, which scammers use to falsely legitimize fraudulent projects.
“A string of deepfakes have specifically targeted Ripple (XRP) and its CEO, Brad Garlinghouse, particularly after the company won its court battle with the U.S. Securities Exchange Commission in July 2023.”
Creation of GPT-themed Tokens
Elliptic also noted that the hype around AI has led to the creation of GPT-themed tokens, which scammers promote by promising high returns. The firm identified “hundreds of tokens listed on several blockchains” that include the term “GPT” in their name.
“Some may indeed reflect well-intentioned ventures, but a number of them have been shilled in amateur trading forums where scammers claim some form of official association with ChatGPT or other supposedly legitimate AI company.”
Vigilance and Proactive Measures
The British blockchain forensic firm says the vast majority of AI-related threats in crypto are in their infancy, highlighting the need for vigilance and proactive measures to combat emerging forms of crypto crime.
Conclusion
The report from Elliptic serves as a warning to the crypto community about the potential risks posed by AI-enabled crime. As AI continues to transform the global economy, it is essential to be aware of the threats it poses and take proactive measures to prevent and combat crypto crime.
FAQs
Q: What is AI-enabled crime in the cryptoasset ecosystem?
A: AI-enabled crime in the cryptoasset ecosystem refers to the use of artificial intelligence to commit fraud and other illicit activities in the cryptocurrency market.
Q: How does AI enable crypto crime?
A: AI can be used to create convincing deepfakes of celebrities, politicians, and industry leaders, which scammers use to falsely legitimize fraudulent projects. Additionally, AI can be used to analyze and manipulate data, making it easier for scammers to target vulnerable individuals.
Q: What are GPT-themed tokens?
A: GPT-themed tokens are cryptocurrencies that are inspired by the popularity of AI language model ChatGPT. These tokens are often promoted by scammers as having the potential for high returns, but may be fraudulent or illegitimate.
Q: What can be done to prevent and combat AI-enabled crypto crime?
A: To prevent and combat AI-enabled crypto crime, it is essential to be vigilant and take proactive measures. This includes educating oneself about the risks posed by AI-enabled crime, avoiding suspicious investments, and reporting any suspected fraudulent activity to the authorities.
