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<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>
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<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>



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<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>
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<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>



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<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>
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<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>
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<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>



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Cardano’s founder has dark prediction on AI frauds

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