San Diego State University researchers have harnessed artificial intelligence (AI) to unveil and thwart cryptocurrency giveaway scams on Twitter.
The AI tool, named GiveawayScamHunter, has astonishingly identified 95,111 fraudulent lists produced by 87,617 accounts on the platform between June 2022 and June 2023.
Using GiveawayScamHunter, the researchers successfully extracted the website and wallet addresses linked to these scams, uncovering 327 fraudulent giveaway domains and 121 new cryptocurrency wallet addresses. This initiative has also shed light on the mechanics of these scams, detailing how scammers target victims and providing an estimate of the number of victims during the one-year study period.
The report approximated that over 365 individuals fell victim to crypto scams, resulting in losses exceeding $872,000. The researchers underscored the prevalence of active spam accounts, indicating the urgency in detecting and curtailing their dissemination.
To identify the scam-related lists, the researchers utilized a natural language processing tool trained on previously identified scam data. This facilitated the identification of almost 100,000 instances of scam lists and gathered data on previously unreported scam websites and wallets.
The research findings, which include associated accounts, domains, and wallet addresses, have been shared with both Twitter and the cryptocurrency community. However, as per the report, 43.9% of the associated accounts remain active as of the publication date.
This use of AI in identifying cryptocurrency giveaway scams aligns with scammers’ exploitation of AI-driven tools to devise new methods of fraud. These tactics amplify the reach of scams and fabricate a veneer of authenticity through the creation of fake followers and interactions.
Bank accidentally deposits $86M into client’s account
A financial institution mistakenly deposited over $86 million into a client’s account, causing shockwaves in the banking industry.
The error came to light when the client, a small business owner, checked their account balance and discovered the astronomical sum. It is being hailed as one of the most significant banking errors in recent memory.
The client, who wishes to remain anonymous, reportedly contacted the bank immediately upon noticing the massive windfall. Bank officials were left scrambling to rectify the error, which has raised numerous questions about the institution’s internal controls and safeguards.
The client’s account, initially holding just a few thousand dollars, suddenly displayed a balance that could buy luxury yachts, mansions, and more.
The incident has prompted investigations by regulatory authorities to determine how such an egregious error occurred in the first place.
While the bank has issued an apology and assured the client that the funds will be corrected to the proper balance, it remains unclear how this mistake could have happened on such a colossal scale.
The financial institution may also face potential legal consequences for the error, as well as reputational damage that could impact its future business.
Tech giants drive global mega-cap surge amid inflation relief
Tech giants have taken the lead in propelling global mega-cap stocks to new heights.
This surge comes as a welcome relief for investors who have been closely monitoring the impact of rising inflation on the financial markets.
The tech sector, including giants like Apple, Amazon, and Microsoft, has been instrumental in driving the rally. These companies have reported robust earnings and strong growth prospects, which has boosted investor confidence. As a result, the market capitalization of these tech behemoths has reached unprecedented levels, contributing significantly to the overall rise in global mega-cap stocks.
The easing of inflationary pressures has played a pivotal role in this resurgence. Central banks’ efforts to tame inflation through monetary policy adjustments have begun to bear fruit, reassuring investors and stabilizing financial markets. As concerns over rapidly increasing prices recede, investors have become more willing to invest in mega-cap stocks, particularly in the tech sector, which has demonstrated resilience in the face of economic challenges.
Will the tech giants maintain their momentum and continue to lead the mega-cap surge, or are there potential risks on the horizon?
Real reason bosses want employers back in the office
As the world gradually recovers from the pandemic, employers are increasingly pushing for their staff to return to the office after years of remote work.
The driving force behind this push is the sharp decline in commercial property values, which has left many businesses concerned about their real estate investments.
Commercial property values have plunged in the wake of the pandemic, with many companies downsizing or reconsidering their office space needs.
This has put pressure on employers to reevaluate their remote work policies and encourage employees to return to the office. #featured
Iger Withdraws Ads from Musk’s Platform Amid Tensions
COP28: Global effort to phase out fossil fuels
Russian police raid Moscow gay clubs
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
News6 days ago
China’s property market crisis worsens
Money6 days ago
China’s shadow banking sector under the microscope
Leaders5 days ago
Is the green revolution incoming?
News3 days ago
‘Endlessly Generous’: Tributes Pour In as Henry Kissinger Passes Away at 100
Leaders2 days ago
Transforming Diversity with Impactful Passion
Tech5 days ago
AWS unveils quantum leap to fix impossible tasks
Shows5 days ago
How will we trade in the future?
Money6 days ago
Shoppers angered at major U.S. retailer’s “unchanged” Black Friday sales