Charles Hoskinson Warns of Inpending Cardano (ADA) Theft in the Coming Year


In a recent YouTube video, Charles Hoskinson, the founder of Cardano (ADA), discussed the future landscape of cryptocurrency scams. Hoskinson expressed concerns that, due to the rise of generative artificial intelligence (AI), a significant amount of ADA worth millions would be stolen within the next year.

Hoskinson emphasized the importance of recognizing that “there’s no such thing as a free lunch.” He cautioned that as AI technology advances, there will be an increase in fraudulent videos and audio clips urging people to invest in various chains or coins. Hoskinson explicitly stated that he would never solicit such requests from individuals.

To ensure identity verification, Hoskinson emphasized the use of a “PGP key” as the sole reliable method.

Read Also: Cardano Foundation Seeks Clarity on SEC Classification of ADA as a Security

PGP Key and Why Cardano Founder Recommends It

The term “PGP key” refers to a Pretty Good Privacy (PGP) key, which is a program utilized for encryption and decryption purposes in data communications. This program offers cryptographic privacy features, ensuring secure verification processes.

In recent times, artificial intelligence (AI) has gained significant prominence in the global technology landscape. Notably, ChatGPT, a widely popular chatbot, has propelled the AI sector to new heights. Nevertheless, numerous individuals have raised concerns about the potential drawbacks of AI.

The Cardano founder’s perspective on AI is shared by other influential figures in the industry. Dr. Geoffrey Hinton, a renowned pioneer in the field who earned the nickname “Godfather of AI,” departed from Google to openly discuss the dangers associated with AI. Google’s CEO, Sundar Pichai, has also expressed the belief that society is not yet prepared for the advancements made by artificial intelligence. Additionally, Elon Musk, one of the early supporters of OpenAI, the organization behind ChatGPT, has highlighted the risks posed by this technology.

As our future becomes increasingly digitized, it becomes crucial for us to exercise caution in regard to the technologies we create. Several countries have even implemented bans on ChatGPT due to concerns regarding privacy. However, there is currently a lack of clear laws and regulations governing this emerging technology.

At press time, Cardano was trading at $0.3326 with a 24 hours drop of 5.6%.


Read Also: Cardano Founder’s Perspective on Binance’s SEC Regulatory Complaint

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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