Can Artificial Intelligence Detect Cryptocurrency Attacks In Advance? Allegedly The First Example Was Seen In The Euler Finance Attack

Decentralized debt platform hacked in the past months Euler Finance A new anecdote has surfaced. Allegedly, an artificial intelligence tool detected the $200 million attack before it happened.

Web3 cybersecurity initiative Forta Networkclaims that artificial intelligence predicted the attack on Euler Finance.

Christian Seifert, a researcher at Forta Network, told the crypto media:

“Our AI models using machine learning previously detected the Euler attack. A few minutes before the hacker transferred the funds to his own account, we warned the team that they needed to take immediate action.”

Seifert emphasized that blockchain technology plays an important role in artificial intelligence and machine learning. Blockchain Transparency in the database contributes to automation technologies to learn a concept much faster.

Euler Recovers Stolen Cryptocurrencies

attacked in the first months of 2023 Euler Finance, were luckier compared to similar cases. Authorities later announced that they had recovered all of the $200 million cryptocurrency stolen by the hacker.

Forta Network expert also touched on the pessimistic side of artificial intelligence technology. According to Christian Seifert, artificial intelligence has significant potential in social engineering.