Elliptic report reveals AIfueled crypto crime is in its early stages

Latest update: June 7, 13:40 UTC: This post has been revised to include feedback from Elliptic.
The emergence of AI-powered crypto crimes signifies a new phase of online threats, as detailed in a report by Elliptic that exposes how cutting-edge technologies are being used for deepfake scams, state-sponsored attacks, and other complex illicit activities.
The report highlights a disturbing advertisement for an “unethical” generative pre-trained transformer (GPT) on the dark web, which states, “AI has two faces, just like humans.”
A user inquiring about “unethical” GPTs. Source: Elliptic report
This dual nature is further exemplified in the WormGPT advertisement featured in the report:
Dr. Arda Akartuna, a senior crypto threat researcher at Elliptic, shared with Cointelegraph:
Related:
During the SpaceX launch, over 35 fake Elon Musks were live-streamed
Exploring deepfakes
Elliptic uncovered deepfake videos showcasing Elon Musk and former Singaporean Prime Minister Lee Hsien Loong to promote fraudulent investment schemes.
Source:
Elliptic report
The report also sheds light on the rising use of deepfake tactics by scammers on social media platforms, deceiving unsuspecting individuals into parting with their money.
Related:
AI presents significant opportunities and risks to financial stability, according to the US Treasury
US warns of criminal activity from Korea
As per the report, Anne Neuberger, the U.S. Deputy National Security Advisor for Cyber and Emerging Technologies, expressed concerns about the escalating threat of AI criminal activities.
Neuberger cautioned against the misuse of AI for purposes beyond typical scams:
Related:
Meta faces criticism in the EU for AI data usage without user consent
Crime doesn’t pay with AI
The report delves into the extent of AI misuse, particularly on dark web forums.
With the rise in dark web activity, there is an increased risk of exposure, as demonstrated by the recent
arrest of a dark web marketplace owner
in New York on May 18.
The 23-year-old individual was charged with managing and profiting from a $100 million dark web narcotics marketplace after the FBI traced his cryptocurrency transactions.
Magazine:
AI expert predicts that by 2030, AI will enable us to achieve ‘biological immortality’