AI related scams and their solutions

[DegenLite]

As an active participant in the cryptocurrency space, the recent information on CoinTelegraph regarding the rise of deepfakes and their impact on the industry has definitely caught my attention. The alarming surge in sophisticated AI-generated fake identities poses a significant threat to the security of users' assets and financial well-being.

https://cointelegraph.com/news/bitget-sumsub-deepfake-detection-security

It's concerning learning about the potential consequences of falling victim to these identity frauds, ranging from stolen identities to emptied accounts, which can result in devastating financial losses and a breakdown of trust within the crypto ecosystem. Statistics revealing a 217% increase in deepfakes detected in the crypto sector from the first quarter of 2023 to the first quarter of 2024, along with a staggering 245% rise across all industries, highlight the urgent need for enhanced security measures across crypto exchanges.

As a trader myself, I believe that staying informed about emerging threats and advancements in security technologies is essential in safeguarding our investments and maintaining trust in the crypto market. By prioritizing user security and adapting to the evolving landscape of cybersecurity threats, crypto exchanges can not only mitigate risks but also foster a safer and more resilient trading environment for all participants.

[tabas]

As a trader myself, I believe that staying informed about emerging threats and advancements in security technologies is essential in safeguarding our investments and maintaining trust in the crypto market. By prioritizing user security and adapting to the evolving landscape of cybersecurity threats, crypto exchanges can not only mitigate risks but also foster a safer and more resilient trading environment for all participants.

Not just in trading but entirely, even in country to country conflicts. These deepfakes can really trigger more confusing friendship of neighboring countries. And even in the NBA, I think that I have watched some post-game interview of Tatum and he talks shit about his opponents in the playoffs but that video has a disclaimer that it's all AI and it's not a real thing. But the moves, actions, the way Tatum talks on the video, they all sound real and genuine. I think there's also one experiment with Luka.

[Bournesparks]

As an active participant in the cryptocurrency space, the recent information on CoinTelegraph regarding the rise of deepfakes and their impact on the industry has definitely caught my attention. The alarming surge in sophisticated AI-generated fake identities poses a significant threat to the security of users' assets and financial well-being.

https://cointelegraph.com/news/bitget-sumsub-deepfake-detection-security

It's concerning learning about the potential consequences of falling victim to these identity frauds, ranging from stolen identities to emptied accounts, which can result in devastating financial losses and a breakdown of trust within the crypto ecosystem. Statistics revealing a 217% increase in deepfakes detected in the crypto sector from the first quarter of 2023 to the first quarter of 2024, along with a staggering 245% rise across all industries, highlight the urgent need for enhanced security measures across crypto exchanges.

As a trader myself, I believe that staying informed about emerging threats and advancements in security technologies is essential in safeguarding our investments and maintaining trust in the crypto market. By prioritizing user security and adapting to the evolving landscape of cybersecurity threats, crypto exchanges can not only mitigate risks but also foster a safer and more resilient trading environment for all participants.

AI has shown impressive capabilities, but its downsides, such as deepfakes that threaten users' funds on platforms, cannot be overstated. However, I commend exchanges that are taking proactive measures to keep their users informed about these developments and are making efforts to protect them.

[bnbstorm]

It also caught my attention as there are real courses in market teaching complete zero to hero methods for creating AI models and then create videos with them. Which is quite terrifying as apart from KYC it can also be used to destroy someones personal life.

[LTU_btc]

Not just in trading but entirely, even in country to country conflicts. These deepfakes can really trigger more confusing friendship of neighboring countries. And even in the NBA, I think that I have watched some post-game interview of Tatum and he talks shit about his opponents in the playoffs but that video has a disclaimer that it's all AI and it's not a real thing. But the moves, actions, the way Tatum talks on the video, they all sound real and genuine. I think there's also one experiment with Luka.

Sometime it looks that AI can do more harm than good. In bad hands this powerful tool can make so much damage. Like your mentioned deepfakes, now it's so easy to make quality deep fake. Very simple example, put words asking to invest into some random scam and let's take Musk as example telling such words. Just imagine how much money scammers can get in such way.

[arwin100]

Not just in trading but entirely, even in country to country conflicts. These deepfakes can really trigger more confusing friendship of neighboring countries. And even in the NBA, I think that I have watched some post-game interview of Tatum and he talks shit about his opponents in the playoffs but that video has a disclaimer that it's all AI and it's not a real thing. But the moves, actions, the way Tatum talks on the video, they all sound real and genuine. I think there's also one experiment with Luka.

Sometime it looks that AI can do more harm than good. In bad hands this powerful tool can make so much damage. Like your mentioned deepfakes, now it's so easy to make quality deep fake. Very simple example, put words asking to invest into some random scam and let's take Musk as example telling such words. Just imagine how much money scammers can get in such way.

On this cases it will be good for people that this technology exist and there's scamming related to AI technology is happening which they use those famous personality to catch their interest and offer some outrageous return on their participation on activities or investment they offered. This is the danger AI so everyone must know that not all what they see online is true.

So verification is always important and ask always if what offers they see is true or not so they can avoid any scamming which is worse scenario they might encounter in future. Its better to be knowledgeable on schemes used by scammers than be sorry later on and realize late then learn for the mistakes they have done.

[TheUltraElite]

The section that will deal with this is essentially cyber crime and that is way underdeveloped in many countries out there and it is these countries which have become the host for such criminals.

Eventually lawmakers will understand the essence of such scams and put forward suggestions and eventually laws to control and punish such creators. For the time being, we just have to keep people up to date with the latest scams ongoing in the market and not rush to send money to someone who might appear to be someone they know. Cross-verify and contact nearby people first and so on.

There is really not much that we can do on our own at this stage.

[tabas]

Not just in trading but entirely, even in country to country conflicts. These deepfakes can really trigger more confusing friendship of neighboring countries. And even in the NBA, I think that I have watched some post-game interview of Tatum and he talks shit about his opponents in the playoffs but that video has a disclaimer that it's all AI and it's not a real thing. But the moves, actions, the way Tatum talks on the video, they all sound real and genuine. I think there's also one experiment with Luka.

Sometime it looks that AI can do more harm than good. In bad hands this powerful tool can make so much damage. Like your mentioned deepfakes, now it's so easy to make quality deep fake.

It definitely is going to depend on which hands these uses will be made. If it's in bad hands, like the example that I've mentioned, it's really going to tear that person down for the meantime.

Very simple example, put words asking to invest into some random scam and let's take Musk as example telling such words. Just imagine how much money scammers can get in such way.

I cannot imagine how many people are going to be gullible with such act. We do saw a lot of people have fallen for those twitter verified accounts from prominent people that have been hacked and shilled some projects years ago. And how much more the damage this can be done by these cons by doing the not so popular technique but an efffective one. For sure a lot of victims will be fooled around.

[Iamcrypticguy]

The section that will deal with this is essentially cyber crime and that is way underdeveloped in many countries out there and it is these countries which have become the host for such criminals.

Eventually lawmakers will understand the essence of such scams and put forward suggestions and eventually laws to control and punish such creators. For the time being, we just have to keep people up to date with the latest scams ongoing in the market and not rush to send money to someone who might appear to be someone they know. Cross-verify and contact nearby people first and so on.

There is really not much that we can do on our own at this stage.

I might not agree with your last statement. There's something we can do and that's to create awareness about this, on the other hand after reading the article I'll say Bitget platform has taken a proactive approach to keep their users updated on assets safety and making partnerships that'll protect their users. I'll like to see this from more platforms and little by little, we'll be able to comeback this crime..

[avp2306]

The section that will deal with this is essentially cyber crime and that is way underdeveloped in many countries out there and it is these countries which have become the host for such criminals.

Eventually lawmakers will understand the essence of such scams and put forward suggestions and eventually laws to control and punish such creators. For the time being, we just have to keep people up to date with the latest scams ongoing in the market and not rush to send money to someone who might appear to be someone they know. Cross-verify and contact nearby people first and so on.

That's how importance to strengthen up the cybercrime law on the country so that they can easily figure out on what to do and how to educate people related to AI scams shits and anything crime related that can result to financial lose of their people. If they don't react based on the crimes happening in their country then we can expect that this activities will became so rampant since those criminals may find easy to operate on those under develop countries.

Law makers should understand that this is serious case already so that they can create a law that can give proper online education to people and put some heavy penalty on criminals that will caught doing this illegal actions in their jurisdiction.

[TheUltraElite]

Law makers should understand that this is serious case already so that they can create a law that can give proper online education to people and put some heavy penalty on criminals that will caught doing this illegal actions in their jurisdiction.

In my country they are not really punished because the system is underdeveloped and not robust enough to pin the crime on someone. They eventually get away with it. Hence this awareness needs to be happening in a global scale, or else you will see these scammers migrate from one less developed country to another which is now a safer haven than the previous one.

We can only make people aware but if caught at the wrong time in the wrong place, the victims may lose money like a father seeing his daughter's deepfake asking him for money because someone has caught her doing some bad things. This is what is happening today.

[avp2306]

Law makers should understand that this is serious case already so that they can create a law that can give proper online education to people and put some heavy penalty on criminals that will caught doing this illegal actions in their jurisdiction.

In my country they are not really punished because the system is underdeveloped and not robust enough to pin the crime on someone. They eventually get away with it. Hence this awareness needs to be happening in a global scale, or else you will see these scammers migrate from one less developed country to another which is now a safer haven than the previous one.

We can only make people aware but if caught at the wrong time in the wrong place, the victims may lose money like a father seeing his daughter's deepfake asking him for money because someone has caught her doing some bad things. This is what is happening today.

That's sad and its undeniable that cybercrime law implementation is so weak. That's the reason those criminals have confidence to continue there crimes since they know that its hard for them to be tracked or easily escape on the crimes they did especially if these people know that the government of certain countries doesn't give much importance about cases happening in online world. If only we have global jury to sue and punish those criminals who commit small or heavy online crimes then provably we can see this activities maybe lessen up.

But reality its hard to happen since seems those official are in focus on other things which they think more beneficial for their political careers. Yet the only thing we can do is to make people aware about the current technology then hopes that they will also share the information they learn from us then make their circle be aware about those potential risk that might brought by AI technology to them and also those deep fakes which is rampantly happening these days.

[BitMaxz]

That's sad and its undeniable that cybercrime law implementation is so weak. That's the reason those criminals have confidence to continue there crimes since they know that its hard for them to be tracked or easily escape on the crimes they did especially if these people know that the government of certain countries doesn't give much importance about cases happening in online world. If only we have global jury to sue and punish those criminals who commit small or heavy online crimes then provably we can see this activities maybe lessen up.

Actually these criminals hackers or anything who do illegal is a big help to any businesses online because if they are all gone we won't see any improvement and development to any security that can protect users from those hackers. People also learn from these scammers like we said any mistakes can be corrected and we always learn from mistakes.
Like what I experienced before someone hacked my account or was a scammer, I experienced them all and now they can't fool me I improved myself to increase my wallet security and improve my scammer instinct(I mean I can able to tell which one is scam or not).

[avp2306]

That's sad and its undeniable that cybercrime law implementation is so weak. That's the reason those criminals have confidence to continue there crimes since they know that its hard for them to be tracked or easily escape on the crimes they did especially if these people know that the government of certain countries doesn't give much importance about cases happening in online world. If only we have global jury to sue and punish those criminals who commit small or heavy online crimes then provably we can see this activities maybe lessen up.

Actually these criminals hackers or anything who do illegal is a big help to any businesses online because if they are all gone we won't see any improvement and development to any security that can protect users from those hackers. People also learn from these scammers like we said any mistakes can be corrected and we always learn from mistakes.
Like what I experienced before someone hacked my account or was a scammer, I experienced them all and now they can't fool me I improved myself to increase my wallet security and improve my scammer instinct(I mean I can able to tell which one is scam or not).

Maybe yes, but also maybe not. Since there are white hat hackers could able to help those businesses to improve their security or something that can help them improve their platform. But for those total scams which their main intention is the destruction of other people then I think they are not helping but rather they are just damaging the reputation of crypto since those newbie investors might hate bitcoin or crypto and spread a word that this is just a scam since they lost a lot of money from it. Those people around them who have no idea about bitcoin will hear his stories will believe that bitcoin is really a scam because they already heard an unfortunate experience to someone they know. That's why it maybe better if these scammers will be eliminated but I guess its really hard to make it happen. So the least we can do is to be aware of what possible actions they do and we can avoid to get scam whatever technology they used.

[Potato Chips]

But in reality, we can't verify how good sumsub's technology is.

Not sure how this compares to other verification software providers as well since I'd say most of them are trying to combat this. I've also heard some started incorporating AI tech as well e.g. jumio. TBH, this article could just be for promotional purpose as well lol.

But KYC is probably here to stay since our big brothers don't care regardless of how effective it is lol.

[uneng]

We are still not prepared to deal with this category of issue in a global scale, because the current level of sophistication AIs have reached is a whole new thing never seen before. And they are still being improved in real time really fast. I remember last year all we had were AI generated static images with some flaws, but right now AI is already able to make perfect images, while almost launching perfect animated videos. Everything in 1 year or so.

Imagine how it's going to be in 1 year from now on. The tendency is that AI's content gets more and more quality, overcoming every mechanisms of detection we have available so far, especially at underdeveloped countries where mechanisms available are completely obsolete when compared to what the top notch countries and autonomous developers have to offer in technological matters.