Cardano founder Charles Hoskinson has warned users that attackers are increasingly creating fraudulent schemes on his behalf using artificial intelligence (AI).

Charles Hoskinson noted that AI is of great benefit to the crypto industry and other industries, but it also allows fraudsters to use more sophisticated methods to prey on victims, such as impersonating Internet influencers.

The creator of Cardano said that one of his subscribers shared an email in which a scammer pretended to be Hoskinson, promoting a medical-themed project that uses blockchain. He tried to trick users into transferring ADA coins to him. It turned out that the scammer used generative artificial intelligence to create an email.

“I remind you that I will never email you directly. Every day scammers hide behind me, trying to steal money from you. If you think you’re talking to me, ask the person to verify their identity with a signature from my PGP key. They can’t do it,” Hoskinson tweeted.

According to the founder of Cardano, AI scams in the crypto industry are becoming more common, which proves the seriousness of the problem. Hoskinson expressed concerns about the progress of generative AI, mentioning the creation of realistic human simulations using it. This is what hackers use to create compelling videos and audios featuring famous people to promote fraudulent schemes. Hoskinson called this trend “the future of crypto scams.” He expects users to lose millions of dollars from these scams over the next 12-24 months.

“It’s getting pretty absurd, but with the development of generative AI, there will be hundreds of victims every month, scammed with fake audio and video. Next year, when the scammers hone their skills, the losses will be estimated at millions of dollars. It’s all about greed and stupidity,” added Hoskinson.

Recall that back in 2021, Hoskinson accused social platforms Twitter and YouTube of posting videos from scammers posing as Cardano executives. The founder of Cardano claimed that the sites profit from these fake videos.