How AI Deepfakes and ChatGPT are Exploited by Crypto Scammers

Discover the threats posed by AI Deepfakes and ChatGPT in the realm of crypto scams
How AI Deepfakes and ChatGPT are Exploited by Crypto Scammers

Technology is always changing, and Artificial Intelligence (AI) is one of the sidelines. Although it can change sectors and industries completely, AI also brings new opportunities for cybercriminals, especially in the crypto space. There have been more complex frauds developed due to chatbots like ChatGPT combined with deep fakes from Artificial Intelligence, which have not been addressed before by regulators or stakeholders who invest their money in such organizations.

Crypto thieves are utilizing AI for different purposes such as applying celebrities’ AI deepfakes into promotions and popular terms like GPT but this will help them deceive those who are into crypto-related investments, according to a fresh report from Elliptic, the blockchain analytics platform. This is really interesting to know at least six characters and one upper case letter must be included into the password for protecting your account.

The claim about the AI swindle wave Combating these AI-driven scams needs a holistic solution. The most important thing is education; on the one hand, investors should know how to reveal a deepfake and verify the information with multiple reliable sources. Thus, technological solutions are a key part as well here. These include making sure there are more sophisticated detectors for identifying subtle flaws in such AI-produced videos through companies’ efforts. At the same time, mechanisms that will tighten noose around such cheats should be implemented by regulatory organizations.

The blockchain analytics platform Elliptic report entitled ‘AI-enabled crime in the cryptoasset ecosystem’ studied the implementation of AI deepfakes, generated by artificial intelligence of large BSD-profile crypto shakers, political leaders, and even Employees of the crypto exchanges to create the aura of confidence among users.

The bearish phase in the crypto industry has been heightened by an influx of new and more elaborate AI and deepfake scams. The above-said trend has however been recently brought to the notice of the market by Michael Saylor from MicroStrategy.

Saylor’s announcement comes after numerous fake AI generated videos, which have elicited comply concern. Such convincing realistic-looking deepfake videos that are meant for cheating have been increasing in popularity in various mediums, conning people into transferring Bitcoins to the wrong people.

Deepfake Crypto Cryptocurrency Scams or How Crypto Criminals Became More Cunning

With several posts about deepfake videos created by Artificial Intelligence, Michael Saylor has sent out a warning. He was portrayed as someone who would ‘double people’s money in an instant’ He made fake free bonus ads that many people would view and then scan the QR code to send Bitcoins to the crypto scammers’ wallets.

Peter Saylor finally defended himself strongly stating there is no risk-free process to double your Bitcoin to which he referred to a bar code scan and stated that MicroStrategy does not give away Bitcoin. Deepfake videos are produced every day to depict him making false promises on crypto and his team normally deletes about seventy five such videos daily.

This issue is not peculiar to Saylor, it is a challenge that many leaders encounter in the management of organizations. In the same regard, individuals impersonating other key stakeholders in the crypto market such as Ripple’s Brad Garlinghouse, Cardano’s Charles Hoskinson, and Solana’s Anatoly Yakovenko have also been impersonated by similar deepfake scams in the past few months. They subject demo the enhanced evolution and the possibility of misuse of deepfake technology.

There are also increasing risks associated with new forms of disinformation and prevalent deepfakes amplified by AI.

Fake news and AI are closely linked and this new form of fake news is on the rise

The study by University College London finds that AI-based motion in video and audio content is the most concerning one in terms of criminality. On the other hand, Matt Groh, who is a research assistant at the Massachusetts Institute of Technology, encouraged the public to be cautious in a way that would help them avoid such cons.

“You have to be a little skeptical, you have to double-check and be thoughtful. It’s actually kind of nice: It forces us to become more human, because the only way to counteract these kinds of things is to really embrace who we are as people,” Groh said.

In these circumstances, OpenAI, the company behind GPT-4, stepped up the fight against artificially intelligent fakes. The firm stressed an ability to show as much clarity as achievable in the work created by artificial intellect. One particular domain where OpenAI’s engagement against AI abuse will be seen is through its latest invention, the image generator called Dall-E 3, where it is planning to introduce content credentials with a view of distinguishing AI generated images.

Killware by OpenAI risks – This comes at a time when Pope Francis has called for an international treaty to govern artificial intelligence. Next stressing the post industrial attributes where technology was to respect human dignity, and promote peace and justice.

“The global scale of artificial intelligence makes it clear that, alongside the responsibility of sovereign states to regulate its use internally, international organizations can play a decisive role in reaching multilateral agreements and coordinating their application and enforcement,” Francis wrote.

In the midst of mounting AI input into different fields such as news reporting sector, this human rights aspect bears an equal significance. By means of the partnership OpenAI has with the American Journalism Project and The Associated Press, it is intended to guarantee the responsible use of artificial intelligence within journalism.

Combating the deepfake and ChatGPT scams that involve cryptocurrencies is about knowing about them, utilizing tools and being cautious. Here are a few strategies:

· Educate yourself about the recent scam tactics and get to know how AI deepfakes can be detected using their signs such as unnatural speech patterns or facial movements.

· AI detection software that can analyze and flag potential AI deepfakes in videos and audio should be used.

· Checking the authenticity of messages and emails, notably the financial transaction related ones, is referred to as secure communication.

· It is important to be careful of unrequested investment advice. To ensure that the crypto platform you are using meets the KYC and AML standards, you need to consider Regulatory compliance.

· Kindly inform the police if you come across any untrustworthy activity and therefore help us make our safety better.


In conclusion, Due to the growing danger from AI deepfakes and ChatGPT in the world of cryptocurrency, a proactive stance becomes mandatory. Being informed about the latest developments, using detectors, ensuring secureness in communication, observing the established rules for trade and reporting any doubtful transactions must be considered as the first safety measures against highly sophisticated frauds. Preventing the misuse of AI and preserving the crypto ecosystem's integrity requires the combined contributions of people, corporations, and regulatory agencies. Our most powerful weapons in ensuring that technology is secure and trustworthy during this digital era are watchfulness and culpability. It is not simply safeguarding assets or maintaining an ethical basis; rather it’s a fight against AI-powered crypto cons.

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