Crypto Faces ‘Arms Race’ Against AI-Powered Scams, Says Quantstamp Co-Founder

As the field of artificial intelligence advances rapidly, scammers are gaining access to tools that enable them to carry out highly sophisticated attacks on a larger scale, warns Richard Ma, co-founder of the Web3 security firm Quantstamp.

In a discussion at Korea Blockchain Week, Ma highlighted that while social engineering attacks have existed for some time, AI is making it possible for hackers to appear “much more convincing,” subsequently boosting their success rates.

As these developments continue, vigilance and awareness are crucial in combatting increasingly sophisticated threats.