#Blockchain companies warn of sophisticated fraud operations based on artificial intelligence in...

_Blockchain security companies are warning #crypto.projects.and.investors of the imminent risks of more sophisticated fraudulent operations using artificial intelligence (AI) technology during the year 2024. Despite the developments in the field of asset protection and reducing losses from fraud and hacking, which caused a decline from $4 billion in 2022 to $1.7 billion in 2023; Experts that #Cointelegraph spoke to warned in a recent article about the development of fraudulent operations and the need to take more precautionary measures. Jesse Leclere, an analyst at the blockchain security company Certik, pointed to the development of fraudulent attacks, stressing that they will not only target users, but may also target corporate systems. This also happened recently in the case of exploiting the security vulnerability of the electronic wallet company Ledger Connect on December 14.

#LeClair also pointed out in the aforementioned article that generative AI is likely to play a crucial role in making scams more convincing by automating processes and creating fake calls, videos, and messages that are indistinguishable from their real counterparts, targeting crypto users in particular. LeClair added that these fraudulent attacks will continue to focus on bridges between blockchain networks in 2024, with the sector’s increased adoption of solutions for connecting blockchain networks, and these bridges may become tempting targets for hackers in order to exploit weaknesses resulting from transactions between different blockchain networks. It should be noted here that bridges between blockchain systems are the most targeted crypto protocols by hackers. The recent hack of the Multichain protocol in July 2023, which caused a loss estimated at $126 million, is an example of such operations.

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