KuCoin Gets Certified for Responsible AI Use Amid Surge in Crypto Scam Adoption
Crypto scammers are increasingly using AI to automate their conversations and persuade victims to send them money, with a 40% rise in criminal adoption of AI over the past year, according to TRM Labs.
KuCoin, a digital-asset platform, has obtained certification for its AI management system under the international standard ISO/IEC 42001:2023. This standard ensures that organizations have processes in place to govern their use of AI and prevent mistakes or bias.
The same technology used by exchanges to detect fraud can also be used by scammers to make threats more scalable and convincing, creating a 'two-sided security challenge'.
KuCoin's certification covers its AI management system and the organizational functions supporting it. BC Wong, chief executive of KuCoin, said: 'AI is becoming a foundational capability of digital financial infrastructure, but greater capability must be matched by greater responsibility.'