TRENDING:
BoJ Interest Rate
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Cardano network’s Charles Hoskinson warns traders against AI token scams ahead of Apple developer conference

  • Charles Hoskinson warned the crypto community against scams among artificial intelligence-based tokens.
  • Apple is gearing up for its 2023 Worldwide Developer Conference scheduled for June 5, which may act as a catalyst for crypto AI tokens.
  • Hoskinson cautioned traders against giveaway scams that target Cardano users using AI technology.
Cardano network’s Charles Hoskinson warns traders against AI token scams ahead of Apple developer conference
Ekta MouryaEkta MouryaFXStreet

Charles Hoskinson, the founder of Ethereum-alternative Cardano (ADA), has warned the crypto trading community against  scams. With market participants watching the upcoming Apple 2023 Worldwide Developer Conference (WWDC) lined up for Monday, there is a rally in artificial intelligence-based (AI) tokens.

Also read: Cardano price turns bullish as ADA blockchain activity surpasses Ethereum development

Charles Hoskinson shares screenshots of latest scam targeting Cardano users

Hoskinson addressed the Cardano community in a recent tweet and YouTube video, sharing evidence of a medical blockchain scam. The scammers impersonated Hoskinson in an email, which the Cardano co-founder shared with the community. Hoskinson warned traders against giveaway scams and impersonation. 

With Apple’s Worldwide Developers Conference scheduled for Monday, Hoskinson reminded market participants that AI technology is likely equipping scammers for impersonation. Falling victim to a giveaway scam could make traders lose their funds and or access to their accounts. 

In his latest YouTube video, Hoskinson shed light on the future of crypto scams that involve the use of AI technology.

Apple’s upcoming conference has acted as a bullish catalyst for AI-based tokens as the community awaits the launch of AI-inspired products by the technology giant. Experts are awaiting the launch of Apple’s most ambitious new hardware product in years – a rumored headset.

Render (RNDR), Ocean Protocol (OCEAN) and Artificial Liquid Intelligence (ALI) rank among the cryptocurrencies that rallied ahead of Apple’s WWDC. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Bitcoin Weekly Forecast: Binance security breach and hawkish Fed push BTC lower

Bitcoin Weekly Forecast: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.
Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.
Bitcoin, Ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets

Bitcoin, Ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets

Crypto traders betting on higher prices had about $1.29 billion in positions forcibly closed over the past 24 hours, as the selloff following Binance’s security breach pushed bitcoin, ether and smaller tokens lower. Total liquidations reached $1.53 billion by Friday morning in Asia, according to CoinGlass. Long positions, bets that prices would rise, accounted for 83.8% of the total.
Crypto Today: Bitcoin, Ethereum, XRP sell-off cools after Binance security breach

Crypto Today: Bitcoin, Ethereum, XRP sell-off cools after Binance security breach

Cryptocurrency prices are on edge on Friday, with Bitcoin (BTC) delicately holding onto a short-term $78,000 support, Ethereum (ETH) edging lower near $2,200 and Ripple (XRP) attempting a recovery above support established at $1.20. The cooldown follows Binance, the largest crypto exchange, after it reported a hack that impacted about $6.3 billion.
Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.