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AI Cryptos Spike as Broader Market Stays Flat, Sector Nears $30B Milestone

AI Cryptos Spike as Broader Market Stays Flat, Sector Nears B MilestoneWhile the crypto market’s overall capitalization has only ticked up by 0.28% over the past day, reaching $2.19 trillion, the artificial intelligence (AI) crypto economy has made more noticeable gains, climbing 5.4% to hover above the $29 billion mark. AI Crypto Sector Jumps 5.4% to $29B On Monday, while the broader crypto market saw a […]

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AI-Focused Cryptos Outshine the Pack This Week, Bittensor Tops Gains

AI-Focused Cryptos Outshine the Pack This Week, Bittensor Tops GainsThis past week, the digital asset market experienced a broad upward trend, with the artificial intelligence (AI) crypto sector standing out as the top performer over the last seven days. This week, the AI-driven crypto sector climbed 30.59% against the U.S. dollar, with bittensor (TAU) leading the charge. TAU Surges, AI Crypto Market Hits $23.49B […]

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Top AI Crypto Assets Rebound Despite Recent Month-Long Decline

Top AI Crypto Assets Rebound Despite Recent Month-Long DeclineAccording to the latest data, the top ten artificial intelligence (AI)-based crypto assets have experienced double-digit declines over the last 30 days. Despite the downward trend, nine out of the top ten saw a recovery this past week, recording gains ranging from 4% to 30% within seven days. AI Cryptos Rise After Suffering Heavy Monthly […]

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Fetch.ai, Ocean Protocol, and Singularitynet to Merge Tokens Into ‘Artificial Superintelligence’ Coin

Fetch.ai, Ocean Protocol, and Singularitynet to Merge Tokens Into ‘Artificial Superintelligence’ CoinThe teams from Fetch.ai, Ocean Protocol, and Singularitynet (SNET), three top projects in artificial intelligence (AI) on the blockchain, have announced their intention to amalgamate their tokens into a unified cryptocurrency named “artificial superintelligence (ASI).” 3 Top AI Tokens to Combine Into a Single Coin Called ‘ASI’ In a communication dispatched to Bitcoin.com News, the […]

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AI Crypto Sector Stands Tall Amid Market Decline, Economy Bolsters by $7.54B in Just 30 Days

AI Crypto Sector Stands Tall Amid Market Decline, Economy Bolsters by .54B in Just 30 DaysAmid a widespread downturn in the cryptocurrency markets this week, tokens based on artificial intelligence (AI) have nevertheless attracted billions of dollars in additional investment. In the last month, the AI-focused cryptocurrency sector has expanded by $7.54 billion, with the majority of the leading AI tokens—four out of the top five—experiencing notable gains since Feb. […]

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Performance of AI-Related Crypto Tokens Driven by News and ‘Memetic Speculation’ — Coinbase

Performance of AI-Related Crypto Tokens Driven by News and ‘Memetic Speculation’ — CoinbaseSince the beginning of the last quarter of 2023, artificial intelligence (AI)-related crypto tokens have not only outperformed the top two crypto assets but have also outpaced key AI stocks such as Nvidia and Microsoft. According to a report by Coinbase, much of this market-beating performance of AI-related tokens can be attributed to AI headline […]

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AI Crypto Assets Skyrocket With Over $10 Billion Added to the Sector in 17 Days

AI Crypto Assets Skyrocket With Over  Billion Added to the Sector in 17 DaysIn the last 17 days, the value of artificial intelligence (AI) cryptocurrency assets has soared, with a significant addition of $10.21 billion to their overall market value. This surge aligns with the unveiling of Openai’s latest innovation, a generative AI-powered application capable of converting text into video. AI Cryptocurrency Sector Explodes With 142% Growth Following […]

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Crypto is in ‘arms race’ against AI-powered scams: Quantstamp co-founder

Quantstamp's Richard Ma explained that the coming surge in “sophisticated” AI phishing scams could pose an existential threat to crypto organizations.

With the field of artificial intelligence evolving at near breakneck speed, scammers now have access to tools that can help them execute highly sophisticated attacks en masse, warns the co-founder of Web3 security firm Quantstamp.

Speaking to Cointelegraph at Korea Blockchain Week, Quantstamp's Richard Ma explained that while social engineering attacks have been around for some time, AI is helping hackers become “a lot more convincing” and increase the success rate of their attacks.

To illustrate what the new generation of AI-powered attacks look like, Ma recalled what happened to one of Quantstamp’s clients, where an attacker pretended to be the CTO of the targeted firm.

“He began messaging one of the other engineers in the company, saying ‘hey, we have this emergency, here's what's going on’ and engaging them in a bunch of conversations before asking them for anything,” said Ma.

Ma said these added steps add a layer of complexity to attacks that make the possibility of someone handing over important information a lot more likely.

“Before AI, [scammers] might just ask you for a gift card or to pay them Bitcoin because it's an emergency. Now they do a lot more extra steps in the conversation beforehand to establish legitimacy."

Ultimately, Ma said the most existential threat introduced by sophisticated AI is the sheer scale at which these types of attacks can be executed.

By leveraging automated AI systems, attackers could be spinning up social engineering attacks and other advanced scams across thousands of different organizations with very little in the way of human involvement.

“In crypto, there's a lot of databases with all the contact information for the key people from each project. Once the hackers have access to that, they can have an AI that messages all of these people in different ways,” he said.

“It's pretty hard to train your whole company to be able to not respond to those things.”

While the scale and complexity of AI-powered scams may seem intimidating, Ma offered some straightforward advice to individuals and organizations looking to protect themselves.

Related: Crypto scams are going to ramp up with the rise of AI

The most important protective measure is to avoid sending any sensitive information via email or text. Ma said that organizations should move to localize all communication of important data to Slack or other internal channels.

“As a general rule, stick to the company’s internal communication channel and double check everything.”

Finally, Ma said that companies should invest in anti-phishing software that filters automated emails from bots and AI. He said that Quantstamp utilize anti-phishing software from a company called IronScales, which offers email-based security services.

“We're just at the start of this arms race, and it's only going to get harder to distinguish between humans and convincing AI.”

AI Eye: Apple developing pocket AI, deep fake music deal, hypnotizing GPT-4

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Gold Bug Schiff Says ‘The Months of Declining Inflation Are in the Review Mirror,’ AI Crypto Assets Surge, and More — Week in Review

Gold Bug Schiff Says ‘The Months of Declining Inflation Are in the Review Mirror,’ AI Crypto Assets Surge, and More — Week in ReviewEconomist and gold enthusiast Peter Schiff has said that the U.S. Fed may have to fight a “complete economic collapse” and be faced with more to worry about than the current battle against inflation. In other news, artificial intelligence (AI) crypto assets have seen a recent surge, and SEC Chairman Gary Gensler has tossed in […]

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