Email phishing attacks have increased dramatically by more than 10-times since the introduction of ChatGPT.
Some firms reported a rise of as high as 1265% in these attacks according to an analysis by Stocklytics.com.
Apart from creating AI tools like WormGPT, Dark Bart, and FraudGPT that produce malware and are spreading on the dark web, cybercriminals are exploring ways to exploit OpenAI’s flagship AI chatbot.
Stocklytics financial analyst Edith Reads says threat actors are using tools like ChatGPT to orchestrate schemes involving targeted email fraud and phishing attempts. These attacks often entice victims to click on deceitful links and disclose information, like usernames and passwords.
During the last quarter of 2022, phishing attacks surged, with cybercriminals sending out approximately 31 000 fraudulent emails daily. This surge represented a 967% increase in credential phishing attempts.