Binance Under Attack by an A.I.-Powered Disinformation Campaign
The world’s largest crypto exchange, Binance, has been hit by a disinformation campaign powered by artificial intelligence (A.I.). The company recently received numerous inquiries asking if its founder, Changpeng Zhao, was associated with the Chinese Communist Party. A.I. platform ChatGPT reported that Zhao developed a social media platform for the China National Petroleum Association, which was debunked by Binance. According to chief strategy officer Patrick Hillman, Binance found that ChatGPT pointed them to a fake LinkedIn page and a Forbes webpage from 2018 that shows a “not found” error. While it is unclear if Forbes actually published the story, if Binance’s account of events is accurate, it marks a new and troubling milestone; A.I. is now being used to smear companies in the halls of power in Washington.
Main keyword: Binance
Why Binance’s Claims are Troubling
Using A.I. to spread disinformation is a concerning development. Experts have already warned of tools like ChatGPT being weaponized to create fake media stories and other bogus content to manipulate the political process. Binance’s experience with the attack shows that this era has already arrived. Binance has repeatedly denied that Changpeng Zhao has any links to the Chinese Community Party. Moreover, Hillman called out the individuals behind the disinformation for not even bothering to fact-check their source. It’s a sad state of affairs, and Binance is one of the first victims of these types of attacks.
How Binance’s Venture Arm is Doing
In other crypto news, Binance’s venture arm recently announced that their portfolio has grown to $9 billion. Despite the intense regulatory scrutiny, they do not plan to scale back. This news indicates that Binance is doing well, and they are committed to expanding their company’s reach.
MasterCard Joins the Crypto Party
In the cryptocurrency industry, MasterCard is entering the space by launching a new service called Crypto Credential. It will provide a means to confirm the identity of parties involved in wallet-based transactions. This news is an exciting development for the industry as a whole.
Hong Kong Banks to Serve Crypto Firms
Turning to Asia, the Hong Kong Monetary Authority has issued a circular telling the city’s banks to offer banking services to crypto firms. This will benefit the crypto industry by providing it with faster access to banking services.
Jack Dorsey on Elon Musk
Finally, Twitter CEO Jack Dorsey has reversed his stance on Elon Musk taking over the social media platform. Dorsey believes that it went downhill after Musk took over. This news shows that even the top minds in the industry can have differing opinions.
Editor Notes
The cryptocurrency industry is an ever-changing and exciting space. However, as the industry grows, it’s important to keep up with the latest news, including how A.I. tools can be used to spread disinformation campaigns like the one that targeted Binance. We encourage readers to stay informed by visiting GPT News Room, where you’ll receive up-to-date news on the latest developments in the industry.
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