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ARTICLE · 22 DECEMBER 2025

Commercial Litigation Insights: Ocean's 01: AI Just Proved It Can Pull Off A Crypto Heist

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Are fraudsters going to be the next group to lose their jobs to Generative AI ("AI")?

CanadaTechnology
Anna Morrish
Anna Morrish
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Are fraudsters going to be the next group to lose their jobs to Generative AI ("AI")? It certainly seems that way with recent reports of AI autonomously designing attacks on smart contracts and stealing digital assets.

The rapid growth in digital assets, and the sheer variety of tokens now in circulation as digital assets have moved into the mainstream, has pushed users and platforms toward heavy reliance on smart contracts. That reliance has seemingly brought a parallel rise in illicit activity. According to DeepStrike, crypto hacking losses peaked in 2022 at $3.8 billion. Losses fell to $1.7 billion in 2023, but have trended upward again over the past two years, with 2024 reportedly seeing $2.2 billion in losses, and 2025 sitting at 99% of that total as of July 17, 2025.1 Some of this may be driven by decentralization, or by the simple reality that money and high value industries attract fraud.

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