The post AI Deepfake Scams Target Ripple (XRP) in Emerging Crypto Threats Report by Elliptic appeared on BitcoinEthereumNews.com.

Blockchain intelligence firm Elliptic has published a report addressing the growing threats posed by artificial intelligence (AI) in the cryptocurrency ecosystem. The report outlines five distinct types of AI-enabled crimes, including deepfake scams and state-sponsored cyberattacks, underlining that these threats are in their nascent stages. The analysis emphasizes the rapid adoption of AI by malicious actors to facilitate various forms of crypto-related fraud. Discover the emerging risks posed by AI in the crypto world and how they are revolutionizing criminal activities in this insightful report by Elliptic. AI Deepfake Scams on the Rise While AI offers transformative potential across various sectors, it also introduces significant risks. Elliptic’s report finds that cybercriminals are increasingly leveraging AI to perpetrate illicit activities within the cryptocurrency sphere. One major concern is the use of AI to generate deepfakes — highly convincing videos and images that impersonate notable figures like celebrities, political leaders, and industry authorities, to promote fraudulent crypto projects. “The growing trend of using AI-generated deepfake videos in crypto schemes has seen scammers illegitimately presenting themselves as crypto leaders to solicit funds from unsuspecting victims.” Specific cases in the report highlight the use of deepfakes to mimic Ripple (XRP) and its CEO, Brad Garlinghouse, especially after the company’s legal win against the U.S. SEC in July 2023. Other victims of deepfake scams include Elon Musk, former Singapore Prime Minister Lee Hsien Loong, and Taiwan’s Presidents Tsai Ing-wen and Lai Ching-te. Anne Neuberger, U.S. Deputy National Security Advisor for Cyber and Emerging Technologies, has also voiced concerns over AI’s misuse. She noted that AI is being employed not only for everyday scams but also for more advanced criminal operations. “Observations have indicated that actors from North Korea and other states are utilizing AI models to expedite the development of malicious software and identify infiltration…

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Filed under: News - @ June 9, 2024 10:16 pm