Solana Foundation Chief Information Security Officer Michael Coates warned this week that artificial intelligence is making crypto scams far more convincing, particularly through social engineering, phishing, and voice-based impersonation. The warning is not about a flaw in Solana’s blockchain or smart contracts, but about attackers targeting users, employees, founders, moderators, and support channels.
AI makes scams more personal
Coates noted that AI enables more realistic messages, voices, identities, and pressure tactics, making scams feel personal and believable. In crypto, mistakes from social engineering — like signing malicious transactions or sharing seed phrases — are often irreversible because there's no chargeback or central authority to reverse them.
Why crypto is a prime target
Solana's ecosystem, with its consumer apps, DeFi, meme coins, NFTs, and mobile tooling, is particularly vulnerable to user-level attacks like fake mints, airdrops, and wallet-draining sites. AI doesn't create new fraud types, Coates said, but it makes existing fraud more efficient through faster testing, personalization, and larger scale.
Teams under fire too
Crypto teams themselves are also targets of AI-driven attacks, including phishing, fake vendors, and voice deepfakes impersonating executives. Coates emphasized the need for systems to be 'secure by default' rather than relying solely on user caution, as AI makes deception cheaper and scalable.
Recommended defenses
Recommended security measures include out-of-band verification, multisig discipline, hardware keys, access controls, and strict treasury procedures. The goal is to reduce reliance on human vigilance alone.
Coates' call for secure-by-default design comes as AI tools become more accessible, lowering the barrier for scammers. The Solana ecosystem, with its broad user base, remains a high-value target.
