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Charles Hoskinson, the founder of Cardano, has issued a stark warning about the potential surge of artificial intelligence (AI)-powered scams looming on the horizon from now until 2025.
Charles Hoskinson scare
In a recent video shared by prominent crypto advocate Digital Asset Investor, Hoskinson predicted that the upcoming year could witness an unprecedented bull market, accompanied by a wave of scams fueled by advanced AI technology.
Gamza KhanzadaevThe anticipation of this ominous trend has already sparked discussion within the crypto community, as observers brace themselves for the looming threat. Hoskinson maintained that cybercriminals could exploit AI-generated deepfake videos to impersonate key figures in the digital currency ecosystem, emphasizing the potential market impact of such deceptive tactics.
He expressed concerns about the ease with which these fraudsters could fabricate convincing videos using sophisticated Large Language Model (LLM) applications, effectively mimicking the appearance, voice and mannerisms of key industry leaders.
The Cardano founder acknowledged the vulnerability of public figures like himself to such impersonation tactics, recognizing the potential for irreparable damage to the market through fraudulent solicitations and the dissemination of false information.
Additionally, Hoskinson singled out Ripple Labs CEO Brad Garlinghouse as another notable victim of these scams, pointing to several fraudulent videos circulating online that falsely promise XRP giveaways — a scheme Ripple Labs Inc. has consistently debunked.
Blockchain to the rescue?
While blockchain technology offers tamper-proof storage systems that could theoretically help combat such scams, the effectiveness of this approach remains limited. Instead, many in the community advocate for a multifaceted strategy centered around public awareness and education to mitigate the risks posed by AI-driven deception.
As the crypto landscape braces for the challenges posed by increasingly sophisticated scams, the need for vigilance and proactive measures to safeguard against fraudulent activities becomes more pressing than ever.
With the threat of AI-driven scams looming large, stakeholders are often advised to remain vigilant and be collaborative their efforts to protect investors and maintain trust in the burgeoning digital asset ecosystem.
Arman Shirinyan
Vladislav Sopov
Dan Burgin