Introducing FraudGPT: An AI Tool for Offensive Purposes

The cybersecurity landscape witnesses a new wave of cybercrime. Threat actors leverage AI to create sophisticated tools for offensive purposes. Following WormGPT, a new tool, FraudGPT, emerges on dark web marketplaces and Telegram.

Netenrich Reports the Emergence of FraudGPT on Dark Web

Netenrich, a prominent cybersecurity firm, has reported the emergence of FraudGPT, an AI bot specifically engineered for malicious activities. According to Rakesh Krishnan, a security researcher at Netenrich, the tool is designed to craft spear-phishing emails, develop cracking tools, engage in carding, and more. This poses a significant threat to individuals, businesses, and organizations as cybercriminals exploit advanced AI capabilities to launch targeted attacks.

The Malicious Capabilities of FraudGPT

The cybercriminals promoting FraudGPT describe it as an alternative to Chat GPT, a language model by OpenAI, and claim it offers exclusive tools, features, and capabilities with no boundaries. The subscription-based service has been circulating on the dark web since at least July 22, 2023. Users can access the service for $200 per month, or opt for longer subscriptions at $1,000 for six months or $1,700 for a year.

Subscription Details and Claims by CanadianKingpin

The actor behind FraudGPT, who goes by the online alias CanadianKingpin, boasts about the tool’s versatility. According to their claims, FraudGPT can be utilized for writing malicious code, creating undetectable malware, identifying leaks and vulnerabilities, and has garnered over 3,000 confirmed sales and positive reviews. However, the exact large language model (LLM) used to develop FraudGPT remains undisclosed.

The Alarming Trend of AI-Driven Cybercrime Tools

The rise of tools like FraudGPT is concerning. Threat actors capitalize on AI advancements to launch malicious variants. Novice attackers use these AI-driven tools for phishing campaigns and BEC attacks, stealing sensitive information and making unauthorized payments.

Beware of Malware-Distributing Sites when Scouting for AI Tools

Risks Posed by FraudGPT and Similar AI Variants

Ethical safeguards can create AI tools with good intentions, but malicious actors can replicate these technologies without restrictions. To address this challenge, Rakesh Krishnan stresses a defense-in-depth strategy, incorporating robust security telemetry to swiftly detect and counter threats before they become ransomware attacks or data breaches.

Emphasizing the Need for Ethical AI Safeguards

As the threat landscape evolves, vigilance is crucial for organizations and individuals to counter AI-driven cyber threats. Adopting comprehensive cybersecurity measures, continuous monitoring, threat intelligence, and employee awareness training form a proactive approach to stay ahead of cybercriminals’ evolving tactics.

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