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Cardano (ADA) Creator Issues A Note of Warning To Crypto Holders

Charles Hoskinson, the creator of Cardano (ADA), has drawn attention to the emergence of a new significant threat to the Cardano ecosystem and the broader crypto market linked to the recent, rapid advancement in AI technology.

Hoskinson responded to a post from X user Digital Asset News (@NewsAsset). The post was a retweet of an article showcasing a brand-new kind of deepfake created only by AI. In the video, the AI tool impersonates Hoskinson and discusses a fake ADA giveaway in a tone that is eerily comparable to the real Hoskinson.

Read Also: Cardano Creator Hoskinson States What To Expect After Binance CEO Resignation

The X user, Digital Asset News (@NewsAsset), found the AI voice “pretty damn close,” raising concerns about the increasing sophistication of scams targeting cryptocurrency users. The user also tagged YouTube, drawing the company’s attention to the fake video.

Hoskinson’s Response

Hoskinson issued a stark warning about the emergence of generative AI scams and their rapidly escalating sophistication. Generative AI is a type of artificial intelligence that can create new content, such as text, images, and even videos.

While this technology holds immense potential, like Google Bard’s ability to give insight into a cryptocurrency’s price movement and future, it unfortunately also creates opportunities for malicious actors.

Hoskinson predicts that these scams will become “dramatically better” in the next 12-24 months, reaching a point where discerning reality from AI-generated fiction will be incredibly difficult.

Cardano community members agreed in the comments section that dangerous attackers will probably use more AI-generated videos in the future. Many people expressed anxiety about the possible effects of AI developments, indicating a sense of unease about the future environment that artificial intelligence may shape.

Community members also emphasized how important it is to have strong authentication techniques to distinguish between real people and deep fakes circulating on the internet.

Read Also: Shiba Inu Lead Developer Appreciates Cardano Creator Hoskinson On Shibarium Launch

The discourse underscored the importance of adopting effective protocols to preserve online identities and uphold confidence in online interactions amid the evolving technological landscape.

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The Cardano community isn’t the first to fall victim to this type of Scam. Last month, the Ripple community faced the same issue, as Ripple CEO, Brad Garlinghouse publicly addressed YouTube regarding a recently surfaced deepfake video circulating on the largest video-sharing platform.

With Cardano users recently losing over 200k ADA to fake events and with the threat of generative AI tools increasing rapidly, crypto users must verify their sources of information and avoid scammers by only interacting with official channels and accounts.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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