Odaily News Artificial intelligence (AI) is increasingly being used to commit crimes in the cryptoasset ecosystem, according to a new report from Elliptic. The report notes that criminals are increasingly using generative AI to create deep fakes and other deceptive materials to carry out crypto scams. In addition, there has been a significant increase in scam tokens, investment platforms, Ponzi schemes, and fake trading robots related to AI. Elliptic notes that scammers often use popular technologies and buzzwords to create tokens or investment plans that ultimately lead to exit scams. One notable incident involved a fake AI trading robot scam called iEarn in 2023, which caused losses of approximately $6 million. The surge in AI trading robots prompted the U.S. CFTC to issue a warning in January. The report added: "In addition to creating tokens, scammers are also using AI as a means of hype on fraudulent investment platforms. In particular, scammers attempt to use the potential of AI to enhance trading or arbitrage capabilities." In addition, AI technology is being used to promote large-scale crypto scams and disinformation campaigns. (CryptoSlate)