The event began with a sudden sell-off of GIGA tokens on November 12. The investor, who goes by the pseudonym “Still in the Game,” revealed they had fallen victim to a hack:

“Today’s massive sale happened because one of my wallets was drained via a fake Zoom link. This is tough, but I’ll stay in the game.”

According to the investigation firm Scam Sniffer, the victim clicked on a fake Zoom meeting link that led them to a site designed to steal crypto wallet security information. The phishing site installed malware on the victim’s device, which allowed the hacker to consolidate assets from three separate wallets into one, seizing all funds.

Onchain Lens, an analytics firm, reported that the hacker stole 95.3 million GIGA tokens, valued at $6.09 million. The hacker converted the stolen GIGA tokens into stablecoins, including $2.1 million worth of Solana (SOL), Tether (USDT), and USD Coin (USDC). The hacker then transferred the stablecoins to a different wallet and moved an additional 700 SOL tokens to the KuCoin exchange.

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The United States Federal Bureau of Investigation (FBI) and a forensic team are involved in the investigation to recover the stolen funds. After the incident, the victim expressed optimism about recovering their loss, saying, “I’ll make it all back and more. Just watch me.”

This event has once again highlighted the critical importance of crypto security. In particular, large exchanges like WazirX have increased security efforts following a recent $235 million cyberattack. WazirX founder Nischal Shetty announced plans to build a decentralized exchange (DEX) where users would have full control over their assets. This platform aims to let users manage their assets freely and includes a DEX token for platform fees and governance.

Crypto investors are strongly advised to be cautious when clicking links and to double down on authentication measures to protect themselves from such cyberattacks.

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The post The Reason Behind the Major Drop in GIGA Revealed! appeared first on Coin Engineer.

Challenges of Existing AI Avatars Addressed

While AI for generating realistic videos has made significant progress, as seen with OpenAI‘s Sora video generator, challenges remain. These challenges include distorted body parts, unnatural backgrounds, and audio-visual desynchronization (lips not moving in sync with speech).

Synthesia’s latest update tackles these shortcomings. Their approach involves training the AI using real humans reading scripts in a studio environment. This process helps the AI capture accurate lip movements and deliver more natural emotional expressions.

Victor Ribarbelli, Synthesia’s CEO and co-founder, highlights a critical factor previously missing in AI avatars: “Unlike humans, avatars don’t understand what they’re saying.” This lack of comprehension resulted in a monotonous delivery, devoid of emotional connection.

In the studio, the AI was trained to respond to basic emotional prompts like “happy,” “sad,” and “frustrated.” This training allows the AI to generate the corresponding facial expressions and vocal tones for each emotion.

Multilingual and Customizable Avatars

These new “Expressive Avatars” come in over 130 languages and can provide closed captions. Additionally, Synthesia offers the option to clone a user’s voice for a truly personalized experience.

While Synthesia’s English language avatars deliver the most advanced and human-like experience, a recent test by Cointelegraph revealed a gap in quality for languages like French, German, and Spanish.

Synthesia boasts an impressive client list, including at least half of the Fortune 100 companies and over 55,000 businesses across various industries. Some notable clients include Zoom, Xerox, Microsoft, and Reuters.

A UK-Based Unicorn with a Strategic Focus

Founded in 2017, Synthesia is a UK-based company that has achieved a valuation close to $1 billion. With major backing from Nvidia, a leader in AI chip development, Synthesia has carved a niche for itself by focusing on creating business-oriented, human-like avatars.

By specializing in corporate-focused AI avatars, Synthesia avoids the intense competition witnessed in the general-purpose chatbot market, where players like OpenAI’s ChatGPT and Google’s Gemini vie for dominance.

The post Nvidia-Backed AI Startup Synthesia Releases Emotionally Expressive Avatars for Business appeared first on Coin Engineer.