Cardano

Identity

Read

<p class="is-style-lead">Discover the warning from Cardano’s founder on the increasing threat of AI-generated scams, how these technological predators work, and the tools we can wield to secure the crypto frontier.</p>



<p>As we traverse the uncharted territories of cryptocurrency, a clarion call rings out from one of the trailblazers of this wild frontier.&nbsp;</p>



<p>Charles Hoskinson, the founder of the cryptocurrency project Cardano (<a href="https://crypto.news/price/cardano/">ADA</a>), has expressed grave concerns over the escalating exploitation of artificial intelligence (<a href="https://crypto.news/blockchain-artificial-intelligence-mean-future-finance/">AI</a>) in crypto fraud.</p>



<p>Known for his astute insights and no-nonsense attitude, Hoskinson raised his concerns in a recent Tweet, where he spoke about an unnerving incident involving someone impersonating him.&nbsp;</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Just a reminder that I&#39;ll never email you directly. Every day scumbag piece of shit scammers impersonate me attempting to steal money from you. If you think you&#39;re talking with me, then ask the person to verify his identity with a signature from my PGP key. They can&#39;t <a href="https://t.co/Qmpm06J8R8" target="_blank">pic.twitter.com/Qmpm06J8R8</a></p>&mdash; Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1665549671421603840?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 5, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>One such instance involved a cleverly-crafted email, purportedly from Hoskinson himself, attempting to lure a potential investor into a nonexistent medical chain venture.&nbsp;</p>



<p>The operation’s smoothness and the impersonation’s sophistication point to an AI’s involvement. This incident, unsettling in its audacity, is a grim harbinger of the emerging threats lurking in the cryptocurrency landscape.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe title="The Future of Crypto Scams" width="1020" height="574" src="https://www.youtube.com/embed/-AnksNTWbIc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<p>Moreover, Hoskinson fears that AI-enabled scams will soon transcend the written word. Advancements in AI technology could lead to convincingly realistic videos and audio messages, opening Pandora’s box of fraudulent possibilities.&nbsp;</p>



<p>This technological leap might blur the lines between authenticity and deception, making it harder for investors to distinguish between genuine opportunities and AI-generated scams.</p>



<h2 class="wp-block-heading" id="strong-ai-the-double-edged-sword-strong"><strong>AI: the double-edged sword</strong></h2>



<p><a href="https://crypto.news/solana-adds-chatgpt-plugin-altsignals-presale-brings-in-913000/">ChatGPT</a>, an AI-based chatbot currently taking the tech world by storm, stands as a testament to the human side of AI.&nbsp;</p>



<p>ChatGPT’s ability to interact seamlessly with humans, echoing our tones, mirroring our expressions, and predicting our preferences, hints at a future where man and machine could share a bond hitherto confined to science fiction.</p>



<p>However, the shadows cast by AI’s glaring light are equally daunting. As Hoskinson points out, the rapid proliferation of AI technology has led to a surge in a new breed of fraud &#8211; AI-generated scams.&nbsp;</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            You might also like:
        </span>

    
    
        <a href="https://crypto.news/binance-taps-artificial-intelligence-ai-to-enhance-web3-education/" class="cn-block-related-link__link">
            Binance taps artificial intelligence (AI) to enhance web3 education         </a>

    
</div>


<p>The precision, sophistication, and adaptability of these scams present a clear and present danger to the crypto community.</p>



<h2 class="wp-block-heading" id="strong-the-pgp-key-a-shield-against-deception-strong"><strong>The PGP key: a shield against deception</strong></h2>



<p>In a future where deep fakes and AI-generated scams could be the norm rather than the exception, safeguarding our interests requires innovation and vigilance.</p>



<p>To beat a trickster, one must think like a trickster and anticipate their moves. And that’s exactly what Hoskinson proposes.</p>



<p>While modern technology may arm scammers with sophisticated tools, it equips us with formidable defenses.&nbsp;</p>



<p>One such tool is the pretty good privacy (PGP) key &#8211; a program used for encryption and decryption to verify identities in data communications. </p>



<p>No matter how advanced AI gets, it remains incapable of cracking a PGP signature, making it a robust tool against AI-based identity theft.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Pretty Good Privacy is a cryptographic method to encrypt and decrypt data. It can be used to encrypt information that is stored on a server — to protect against unauthorized access. PGP keys can be used to verify software download like BTC Core.<a href="https://t.co/UJFHcGPgsR" target="_blank">https://t.co/UJFHcGPgsR</a></p>&mdash; Vishal Chawla 🛸 (@vishal4c) <a href="https://twitter.com/vishal4c/status/1609860162785017861?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 2, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Furthermore, Cardano is working on proactive solutions like Atala Prism, which could provide a reliable layer of identity authentication for communications channels. The goal is simple – enable individuals to swiftly and securely verify the identities of their counterparts.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Identity is fundamental to our lives, but verifying it online remains a challenge. <a href="https://twitter.com/hashtag/AtalaPRISM?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#AtalaPRISM</a>, a product of <a href="https://twitter.com/InputOutputHK?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@InputOutputHK</a>, is pioneering digital identity with decentralized solutions. It empowers individuals to hold and control their data. 🌐🔐 <a href="https://twitter.com/hashtag/DecentralizedIdentity?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DecentralizedIdentity</a> <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Cardano</a></p>&mdash; Cardano Bossito (@cardano_bossito) <a href="https://twitter.com/cardano_bossito/status/1665292120247218176?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 4, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>This strategic approach towards AI-generated scams underscores a key fact – while technology can pose challenges, it also provides the means to overcome them. As we steer through the stormy seas of the crypto world, innovation, adaptability, and a keen sense of caution will be our best compass.</p>



<h2 class="wp-block-heading" id="strong-the-road-ahead-strong"><strong>The road ahead</strong></h2>



<p>As we stand on the brink of an AI-infused future, Hoskinson’s warning is an urgent reminder of the challenges and the road ahead.&nbsp;</p>



<p>The dark underbelly of AI is emerging, and it’s time for us to arm ourselves against the threats it poses while simultaneously harnessing its power to create a safer, more secure crypto environment.</p>



<p>Use authentication tools like PGP keys, remain alert to potential red flags, and question any unsolicited investment opportunities, however enticing they appear.&nbsp;</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            Read more:
        </span>

    
    
        <a href="https://crypto.news/what-is-inverse-cramer-how-cnbc-host-accidentally-created-trading-strategy/" class="cn-block-related-link__link">
            What is Inverse Cramer: how CNBC host accidentally created trading strategy         </a>

    
</div>

Cardano’s founder has dark prediction on AI frauds

Table of Contents

crypto.news

Other articles published on Jun 8, 2023

Unveiling the Next Big Opportunity in the Crypto Bull Run

Potential SEC Legal Targets in Crypto Space: Speculation Rises

Billionaire Mark Cuban Highlights Regulatory Issues Amid SEC’s Legal Action Against Coinbase

Binance Pay Scores Crucial Partnership in LatAm Despite Regulary Attacks

Trade on Shido Dex!

'Rich Dad Poor Dad' Author Foresees Greatest Crash Ever, Urges to Buy Bitcoin

Join our free newsletter for daily crypto updates!