Elliptic Report: AI-Driven Crypto Crime on Steep Rise

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As an experienced cybersecurity analyst, I find the Elliptic report on the use of AI technology by crypto scammers particularly alarming. The ability of these criminals to leverage sophisticated AI for state-sponsored attacks and deepfake scams marks a new era of cyber threats that we must be prepared to face.

In their most recent analysis, Elliptic revealed that crypto fraudsters are increasingly utilizing advanced artificial intelligence (AI) techniques, marking the beginning of a fresh wave of cyber menaces. Employing AI, these deceitful actors carry out state-backed assaults, create deepfake scams, and engage in other unlawful practices.

The report brings attention to an alarming ad for a potentially unethical generative pre-trained transformer (GPT) discovered on the deep web, which intriguingly asserts that “artificial intelligence, like humans, has two sides.” Furthermore, the report underlines this theme of duality, as exemplified by the advertisement for WormGPT.

Let’s delve into the captivating world of coding, a realm where constraints dissolve, and creativity takes center stage. Hand in hand, we explore the intricacies of this digital labyrinth, bracing ourselves for fresh discoveries. What’s your next step?

As a crypto investor, I’ve come across some alarming information from Elliptic’s latest report. It reveals that deepfake videos, one featuring Elon Musk and another former Singaporean Prime Minister Lee Hsien Loong, are being exploited to peddle fraudulent investment schemes. The report further highlights the escalating trend of deepfakes being used by scammers on social media to swindle unsuspecting victims out of their hard-earned funds. In simpler terms, I’ve learned that con artists have been producing convincing fake videos of well-known figures like Elon Musk and Lee Hsien Loong, using them to lure people into investing in shady schemes. It’s a stark reminder of the importance of staying vigilant and double-checking any investment opportunities that come our way.

Scammers employing crypto giveaways and doubling schemes are more frequently utilizing deepfake videos featuring the heads of crypto companies and renowned personalities to lure victims into transferring money to fraudulent crypto wallets.

North Korean State Players Using AI for Scams

I’ve been closely following the cybercrime landscape, and one group that has gained notoriety is the North Korean Lazarus Group. This state-sponsored entity has been linked to numerous crypto scams, with estimates suggesting they’ve stolen billions of dollars from unsuspecting investors. More recently, Anne Neuberger, the US Deputy National Security Advisor for Cyber and Emerging Technologies, has raised alarm bells about the increasing use of AI by North Korean state actors in their criminal activities.

“North Korean and other malicious actors, including nation-states and criminal groups, have been detected attempting to employ advanced AI technologies to expedite the production of harmful software and locate weaknesses in systems,” the statement reads.

As the number of activities on the dark web increases, so does the likelihood of facing legal consequences, as demonstrated by the recent apprehension of a dark web marketplace owner in New York on May 18. The 23-year-old individual is accused of running and earning from a $100 million dark web platform dealing narcotics, following an FBI probe that tracked his cryptocurrency payments.

Multiple dark web cybercrime forums have reported conversations about utilizing large language models (LLMs) from Elliptic for nefarious purposes. These include decoding crypto wallet seed phrases to gain unauthorized access, bypassing authentication systems for platforms like OnlyFans, and providing substitutes for manipulation services such as DeepNude that previously relied on image ‘undressing’.

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2024-06-07 14:21