According to a new report from blockchain analytics firm Elliptic, the rate at which advanced technologies such as AI and cryptocurrencies are being exploited for deep fake scams, state-sponsored attacks, and other illegal activities is rapidly increasing.
The report highlighted the increasing use of various deepfake tactics powered by AI technologies by scammers on social media to deceive unsuspecting victims into handing over their money and cryptocurrencies.
“Crypto giveaway and doubling scams are increasingly using deep fake videos of crypto CEOs and celebrities to encourage victims to send funds to scam crypto addresses.”
Elliptic revealed that deepfake videos featuring Elon Musk, former Singaporean Prime Minister Lee Hsien Loong and other popular celebrities are being used to promote these fraudulent investment schemes.
The report also noted some discussions on dark web forums that painted a picture of the extent of AI misuse in these malicious activities.
According to Elliptic, participants in these forums are talking about using large language models (LLMs) to
“reverse-engineer crypto wallet seed phrases, bypass authentication for services such as OnlyFans, and provide alternatives to image ‘undressing’ manipulation services such as DeepNude.”
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The report also highlighted a dark web ad for an “unethical” GPT, which read: “AI has two faces, just like humans.” The ad for another LLM, “WormGPT,” cited in the report also emphasized this concerning trait of duality:
“Embrace the dark symphony of code, where rules cease to exist, and the only limit is your imagination. Together, we navigate the shadows of cyberspace, ready to conquer new frontiers. What’s your next move?”
Elliptic also cited Anne Neuberger, the U.S. Deputy National Security Advisor for Cyber and Emerging Technologies, who claimed that AI is being misused for more than just everyday scams but also in nation-scale kind of malicious activities.
“Some North Korean and other nation-state and criminal actors have been observed trying to use AI models to accelerate the creation of malicious software and identify vulnerable systems.”
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