Cardano’s creator warns of AI-related cryptocurrency frauds

Charles Hoskinson has issued a public warning about the risks involved and the possibility of scammers using generative AI to cheat victims out of their cryptocurrencies.

On June 5, Hoskinson tweeted an image of a fraudulent email that claimed to come from him and convinced the receiver to invest in the “first medical multichain on the Cardano blockchain” to “save lives.”

Later, Hoskinson posted a video that warned his followers about the dangers of artificial intelligence (AI) becoming increasingly like the “real thing.” He cited the message’s grammatical and stylistic quality as evidence, saying it appeared to have been written by an AI tool like ChatGPT.

Every day, people get out of bed to convince you that they are me, Vitalik Buterin, or Elon Musk and that if you give them part of your cryptocurrency, they will return the investment with interest.

And he included a supercut of Nvidia (NASDAQ: NVDA) CEO Jensen Huang’s keynote speech in Taiwan, where he announced the company’s plans to integrate artificial intelligence to make a photorealistic video game, complete with the ability to create lifelike people in 3D, as well as video based on textual input.

He said that the email his follower had received was a great example of this kind of scam: “Confidence schemes like this will lead to the loss of millions of dollars worth of ADA and other cryptocurrencies. This is the future that generative AI is leading us to. Scammers are already taking advantage of this flaw and unexpected effect.”

Hoskinson called PGP keys “the only surefire way to verify identity now” and promised a more in-depth explanation of their use in an upcoming video.

Also Read: Charles Hoskinson has issued a public warning about the risks involved and the possibility of scammers using generative AI to cheat victims out of their cryptocurrencies.