Binance to Boost Investment in AI Security Detection After Wallet Hijacking Linked to Misused Internal AI Tool
Summary
- Binance said it will expand investment in artificial intelligence (AI) tools after a wallet hijacking incident involving the misuse of an internal AI tool and increase spending on AI-based security detection technology.
- It said it plans to strengthen its AI-based detection capabilities following an incident in which an attacker used a compromised computer and an internal AI tool to seize control of a wallet.
- Binance plans to increase investment in AI-based security technology to detect similar attacks, though the size of the investment and the losses were not disclosed.
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Binance, the global cryptocurrency exchange, said it will increase investment in AI-based security detection technology after a wallet hijacking incident involving the misuse of an internal artificial intelligence tool.
Cointelegraph reported on November 3 that Binance plans to strengthen its AI-based detection capabilities following an incident in which an attacker used a compromised computer and an internal AI tool to seize control of a wallet.
In the incident, the attacker used an already compromised computer as a foothold and abused the internal AI tool to gain control of the wallet.
Binance plans to expand investment in AI-based security technology to detect similar attacks. The size of that investment and the losses from the incident were not disclosed.
JH Kim
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