The digital age comes with its dark side. And the recent revelations from San Diego State University's AI research team reveal a chilling underworld of #cryptocurrency scams on X.
How It All Unfolded đ§:
Researchers developed GiveawayScamHunter, an #AI tool tailored to identify and track free crypto giveaway scams on X. In a short span from June 2022 to June 2023, this powerful system discovered an astounding 95,111 scam lists, stemming from 87,617 individual accounts.
The Method Behind the Madness đ”ïžââïž:
Tapping into the promise of natural language processing, the team trained the AI on past scam data. This allowed the tool to identify almost 100,000 giveaway scam instances. Through this method, they brought to light many previously unknown scam websites and wallet addresses.
The researchers unveiled 327 scam domains and 121 scam-related #crypto wallet addresses. They pinpointed the Twitter Lists feature as a prime vulnerability. Its open nature provides scammers an easy tool to prey on unsuspecting victims.
Actions Taken & Challenges Ahead đ«:
Upon discovery, the researchers promptly reported their findings to X and the broader crypto community. However, the battle is far from over. As of August 10th, a worrying 43.9% of the scam accounts remain active. While many might be dormant, the risk lingers.
Conclusion & Caution đš:
This groundbreaking study is a stark reminder of the dangers lurking in our digital world. While advancements like AI offer a shield, the responsibility to stay informed and cautious lies with each one of us. Remember, if it seems too good to be true, it probably is. Stay safe and keep your assets secure.
