Crypto Investors Warned by Cardano Founder of Emerging Technological Risk

Famous mathematician, crypto millionaire, and Cardano and IOG developer Charles Hoskinson has warned the whole cryptocurrency sector.

Recent social media posts on the X platform (formerly Twitter) brought attention to a novel and potentially catastrophic danger brought about by lightning-fast technological development.

Hoskinson claims that these changes might cause crypto users who aren’t careful to lose their money in frauds. An important aspect of Hoskinson’s caution is the increasing complexity of generative AI systems.

Recently, a user on X tweeted a deepfake movie that was entirely AI-made and starred Charles Hoskinson. In the video, the imposter Hoskinson talks about a fake ADA giveaway in a style that is very similar to the real Charles Hoskinson’s.

Someone on Twitter made the remark, “That sounds exactly like @IOHK_Charles, albeit a bit choppy,” and expressed worry that a lot of Cardano users would be tricked by fraudsters on YouTube who employ AI to provide convincing impersonations.

In response, Charles Hoskinson said that he had foreseen the appearance of cryptocurrency-focused, generative AI-based fraud movies. He went on to say that in the next year or two, deepfake films would be much easier to fool people into thinking they are watching genuine video when in fact they are completely computer-generated.

Many Cardano users who took the time to comment on the matter voiced their concerns about the potential future prevalence of AI-generated films. Some people have come out to say that they are worried about how AI developments can affect their credibility when interacting with brands online.

There was widespread agreement that strong authentication mechanisms are required to distinguish between real people and their artificial intelligence (AI) online impersonations.

Malicious actors’ tactics to scam innocent investors are always changing in tandem with the crypto business. A major weapon in the armory of fraudsters is generative AI, which can produce convincing deep-fake movies.

Scammers might fool customers into giving up their money because they can imitate the voices and looks of well-known crypto personalities.

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