Cybercriminals unleash-FraudGPT- A New tool for offense Cyber Attacks

The dark web has witnessed the emergence of a dangerous cybercrime tool named FraudGPT, following the footsteps of its infamous predecessor, WormGPT. This malevolent AI bot is exclusively designed for offensive activities such as crafting spear-phishing emails, creating cracking tools, and engaging in carding operations.

According to a recent report by cybersecurity firm Netenrich, FraudGPT has been in circulation since at least July 22, 2023, and is being offered on various dark web marketplaces and Telegram channels. Cybercriminals can subscribe to this tool for $200 per month, with longer subscription options available at $1,000 for six months and $1,700 for a year.

Operated by an individual using the alias "CanadianKingpin", the tool is advertised as an unrestricted AI alternative, providing a wide range of exclusive features and capabilities. Alarmingly, FraudGPT boasts the ability to write malicious code, create undetectable malware, identify leaks and vulnerabilities, and has already accumulated over 3,000 confirmed sales and positive reviews.

The specific large language model (LLM) employed to develop FraudGPT remains undisclosed, adding to concerns about its potential sophistication and impact.

The proliferation of AI-powered tools like FraudGPT poses significant challenges for cybersecurity professionals. While ethical safeguards can be implemented in AI development, malicious actors can easily circumvent such restrictions, as observed in this case.

FraudGPT's existence raises serious implications for the phishing-as-a-service (PhaaS) model, as it empowers novice cybercriminals to conduct large-scale and convincing phishing and business email compromise (BEC) attacks. This could lead to the theft of sensitive information and unauthorized wire payments, amplifying the threat landscape.

To combat these fast-evolving threats effectively, organizations must adopt a comprehensive defense-in-depth strategy, coupled with advanced security telemetry for swift analytics. Proactive measures are vital in identifying and neutralizing potential cyber threats before they escalate into more significant security breaches, such as ransomware attacks or data exfiltration.

As the use of AI in cybercrime continues to grow, cybersecurity professionals face the urgent task of staying ahead of adversaries. Vigilance and proactive security measures are paramount to safeguarding sensitive information and protecting businesses and individuals from the escalating dangers posed by sophisticated cybercriminal tools like FraudGPT.