The European Union Agency for Law Enforcement Cooperation (Europol) has published a report that explains how artificial intelligence and crypto affect the organized crime.
In a report on a threat assessment about serious and organized crime, Europol Nakasa said AI and Crypto play a role in criminal efficiency. The law enforcement organization said that criminal networks have shown a ability to rapidly adapt to new technology.
The report says the properties of AI’s transformation make it a attractive -attractive tool for criminals. The report said the development of AI “lowered the entry barriers” for digital crimes.
The government agency said AI allowed criminal messages in many languages, targeting victims more accurately and worldwide. It also allows malicious actors to create sexual and child abuse material.
How AI and Crypto drive criminal efficiency
Europol also said that AI automation capabilities change the efficiency of criminal operations. The government agency said criminals can automate their phishing campaigns using AI. As a result, malicious actors can reach many victims with large cyberattacks.
Europol said in a report that realistic synthetic media allows criminals to deceive victims, have sex with individuals and to clear their targets. The organization wrote:
“The addition of AI-powered voice cloning and live video deepfakes strengthens the threat, enabling new forms of fraud, oppression, and identity theft.”
In Feb. 13, Blockchain Analytics firm Chainalysis said Generative AI “boosts scams.” Analytics company said AI is Making scams is more affordable And more scalable. The head of chainalysis products, Elad Fouk, said AI has facilitated the creation of fake identities, allowing scams to introduce real users.
Apart from AI, the report also noted how blockchain -based technologies such as cryptocurrency and invisible tokens (NFT) have moved across Cybercrime and are now involved in other traditional crime areas. This includes drug trafficking and migrant smuggling.
Europol also said that many criminal schemes appeared to steal crypto, NFT and resources used in the crypto mine.
https://www.youtube.com/watch?v=HF08SO8TLEI
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ZachXBT says bybit Hack shows how “cooked” the industry
The latest high-profile criminal activity in the crypto space was bybit hack, which led to nearly $ 1.5 billion in losses. In a telegram post, crypto investigator Zachxbt Says The hack is “eye opening,” showing how the industry is “unbelievable cooked” with hacks and exploitation.
Crypto Sleuth said the industry may not adjust itself unless the government is “trying to pass the regulations that are offensive to our entire industry.” The investigator shared that as he helped the Funds of Hack -related funds, he witnessed flaws with decentralized and centralized protocols. Zachxbt wrote:
“Many ‘decentralized’ protocols have recently had almost 100% of their monthly quantities/fees derived from the DPRK and refused to take any responsibility.”
The Crypto investigator said North Korea hackers were washing funds showed flaws of knowing your transaction and knowing your customer protocols.
“Centralized exchanges end up being worse as when the prohibited funds flow them some time to respond when it takes just a few minutes in the launder,” Zachxbt said.
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