- AI Deepfakes Threaten Cryptocurrency
- Ongoing Impact of AI on Cryptocurrency
- How to Detect Deepfake Attacks
Scammers using AI-powered deepfake technology are increasingly defrauding cryptocurrency holders, security experts warn.
AI Deepfakes Threaten Cryptocurrency
On September 4, software firm Gen Digital reported that malicious actors using AI-powered deepfake scams to defraud crypto holders have ramped up operations in the second quarter of 2024. The scammer group called “CryptoCore” has already scammed over $5 million in crypto using AI deepfakes.
Ongoing Impact of AI on Cryptocurrency
Security firms believe that AI deepfake scams will become more sophisticated. Experts suggest that these attacks could expand into other vectors, such as voice and video recordings. A spokesperson for CertiK emphasized the importance of evaluating the robustness of biometric security solutions. If a wallet relies on facial recognition for security, it must be prepared to withstand threats created by AI.
How to Detect Deepfake Attacks
While AI-powered deepfake attacks pose a significant threat, security professionals believe there are ways to protect oneself. CertiK experts emphasize the importance of education in this area. Luis Corrons, a security evangelist for Norton, also noted that cryptocurrency transactions are highly valued due to their anonymity and significant financial rewards. Corrons highlighted the importance of user awareness about potential risks and ways to recognize them.
Given the growing threats from AI-powered deepfake technology, experts advise the crypto community to be more vigilant and knowledgeable about protective measures.
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