Self-Sovereign Identity for more Freedom and Privacy - SelfKey
3 minutes

Horrifying Types of Cyber Crime Cost Victims BILLIONS - Are you next?!

Billions of dollars are extorted by cybercriminals who exploit people's vulnerabilities. SelfKey is up to date with these devastating facts and remains focused on utilising the potential of AI to develop decentralized solutions which may prevent data theft in the future.
12 May 2023
Person typing on a laptop, attempting to commit identity theft.

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Dear SelfKey Astronauts, 

Bad players are taking advantage of the fast-paced advancement of modern technology to come up with harrowing ways to scam victims. According to the US Federal Trade Commission, in just one year, victims have reported losing over 8 million dollars to hackers

This alarming number, along with the devastating data breaches incidents which rose during the first half of this year, raise one important question - Are YOU next?

Scammers are using artificial intelligence-powered technology to mimic voices and impersonate loved ones, tricking people, often the elderly, into giving them money. 

In 2022, impostor scams were the second most popular racket in the US, with over 36,000 reports of people being swindled by those pretending to be friends and family, according to data from the Federal Trade Commission. 

Advancements in AI have added a new layer to the scam, allowing bad actors to replicate a voice with an audio sample of just a few sentences. AI voice-generating software analyzes what makes a person’s voice unique and recreates the pitch, timbre and individual sounds of a person’s voice, using a short sample of audio, taken from various sources.

As terrifying as this may sound, AI is not a tool that can be used solely by wrong doers. AI can be used by anyone, and it’s the intention behind it which can make it either good or bad.

AI has immense power and benefits which can help shield us and our loved ones against malicious AI. SelfKey is utilizing these advantages to develop decentralized solutions aimed at enhancing privacy and security.

SelfKey iD may be the ideal solution to protect individuals and systems against fake, AI-generated digital identities, or identity thieves. With the power of AI, SelfKey iD may prove to be effective against data breaches or scams. 

In this context, AI is used to recognize identity fraud and prevent unlawful access to systems or accounts by unauthorized parties. This may reduce the risks of scams, identity theft, and other fraudulent attempts in the near future, so that individuals may not fall victim to cybercriminals so easily. 

Bad players may be getting smarter at developing ways to exploit and abuse others’ vulnerabilities, but SelfKey is striving to keep up with these events and develop decentralized solutions to combat and prevent them.

With the right knowledge and tools, we may be able to work together towards building safer, decentralized systems, where individuals no longer have to worry about their valuable personal information being at risk.

Decentralized systems may be a much better and safer alternative to centralized systems with weak security measures. SelfKey DAO may provide that secure space for individuals to interact safely and securely in the digital world. 

⚡The SelfKey DAO Whitepaper can teach you more about the benefits of decentralized systems.


Featured article:

🔑 SelfKey iD POI Staking

Because of the elusive nature of the internet, it’s difficult to trust that an individual is truly who they claim to be, even if they are verified. So then, how can we make sure that we aren’t interacting with an identity thief or a bot? SelfKey iD and POI Staking may be the answer.

Read more → about POI Staking, its benefits, and how it may be used to protect individuals’ private data and detect identity fraud.

In case you missed it:

⚠️ Data Breaches: Risks and Consequences

Sharing private information on the internet has become so normalized that people seldom ever stop to think of its negative impacts. Despite being a routine practice, it doesn't necessarily mean it's secure. Data breaches occur daily, and anyone can fall victim to them at any time, with some breaches resulting in irreversible harm to those whose data was compromised.

Read more → about Data Breaches, what causes them, and what are the negative impacts they bring.

Crypto News

📰 Key Benefits and Use Cases of AI in Logistics Industry

AI can help improve the efficiency and reduce costs of logistics processes by analyzing data from various sources to optimize routes and schedules, inventory management, order fulfillment, and supply chain visibility. 

The benefits of AI in the logistics industry include enhanced efficiency, improved customer service, better decision-making, increased safety, and cost reduction. 


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"Unity is strength... when there is teamwork and collaboration, wonderful things can be achieved." - Mattie Stepanek

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SelfKey Protocol is maintained by a DAO of SelfKey iD Holders. Join us and help revolutionize identity management in Web3!


We believe the information is correct as of the date stated, but we cannot guarantee its accuracy or completeness. We reserve the right not to update or modify it in the future. Please verify all information independently.

The term "staking" is used solely as it is described here and does not mean any investment or similar activities.

This communication is for informational purposes only. It is not legal or investment advice or service. We do not intend to offer, solicit, or recommend investment advisory services or buy, sell, or hold digital assets. We do not solicit or offer to buy or sell any financial instrument.

This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.

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SelfKey is a fast-growing DAO developing digital identity solutions. The DAO seeks to empower individuals and corporations to take back ownership of their identity data
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