Google's AI tool is dangerous for the cryptocurrency industry

Google’s AI tool is dangerous for the cryptocurrency industry.

Altcoin news, News

During the Google I/O 2023 conference, it was revealed that a new artificial intelligence tool and a Smart Reply email tool had been developed. These tools are likely to assist criminals in carrying out phishing scams that are directed toward the cryptocurrency space. Similarly, the AI language model known as Bard poses a threat because it can quickly compose malicious smart contracts. This can happen in just a few minutes.

These phishing emails can easily deceive recipients because they mimic the format and tone of legitimate emails sent by companies. Due to the sophisticated nature of these scams, even spam filters, which are designed to identify phishing attempts that are poorly crafted, may have difficulty distinguishing between genuine and fake emails.

In addition to harvesting personal data, con artists can steal personally identifiable information by using malicious code, as Bard has pointed out. After that, the ill-gotten information can be sold for cryptocurrency on fraudulent online stores or marketplaces that are located on the dark web, thereby facilitating additional illegal activities.

Bard continues by expressing concern regarding the use of vulnerabilities in smart contracts by criminals, which gives them the ability to steal cryptocurrencies or money. Cross-chain bridges, especially in their current state with looser security measures, become prime targets for the kinds of cybercriminals who would do something like this. In light of the fact that Google is getting ready to launch its assistant feature in more than 180 countries and territories, users have a responsibility to maintain a state of heightened vigilance., a cybersecurity company, uses machine learning techniques to conduct an analysis of smart contract code in order to combat the evolving threats that it faces. The company’s goal is to identify and prevent potential vulnerabilities before they can be exploited.

It is important to remember that con artists have in the past resorted to purchasing Google Ads that direct users who are not paying attention to websites that are designed to trick them into divulging sensitive information. These fraudulent schemes entice victims by creating a sense of urgency or by promising them opportunities to make substantial profits, only to empty their wallets on cryptocurrency exchanges by using the credentials that they have obtained.

It is essential for individuals and organizations, particularly in light of the rapid development of technology, to keep abreast of the most recent security threats and to exercise extreme caution whenever they engage in activities on digital platforms.

Compiled by Coinbold