- Elliptic has integrated ChatGPT to help customers detect crypto threats.
- Other platforms have also attempted to use ChatGPT, albeit with mixed results.
- In the past couple of weeks, crypto scams and hacks have been ramping up.
Cryptocurrency risk management firm Elliptic has integrated ChatGPT to ramp up its efficiency in detecting crypto threats, which comes as other crypto firms report mixed results in its implementation.
Elliptic provides risk assessments to crypto users regarding transactions, wallets, and exchanges. These are conducted by its team of human researchers utilizing a proprietary data set with “over a decade’s worth of data.”
The company noted that ChatGPT will allow its researchers and investigators to tackle new risk factors “in higher volumes and at a quicker speed than ever before.”
Elliptic chief technology officer Jackson Hull suggested its implementation has the potential to detect risks that human researchers may have failed to recognize:
“Our customers come to us to know exactly their risk exposure. Integrating ChatGPT allows us to scale up our intelligence, giving our customers a view on risk they can’t get anywhere else.”
As mentioned above, several crypto firms have recently implemented ChatGPT into their operations, yielding mixed results. As for Elliptic, the platform has yet to report on the success of its ChatGPT integration in the course of the next months following the announcement.
Meanwhile, in the past couple of weeks, crypto hacks have been ramping up from various avenues. These include the hacking of Twitter accounts of influencers and leading voices in the crypto space to promote scam tokens.
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Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.
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- Source: https://cryptonewsland.com/chatgpt-is-now-being-used-to-reduce-crypto-hack-risks/
