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Solana Foundation CISO warns AI-driven scams target crypto users

Michael Coates said the next wave of crypto security concerns will center on AI powered social engineering and compromised credentials, not only smart contract exploits.

Reported · Written up by our desk · Market Structure

CoinDesk reports Michael Coates, the Solana Foundation’s new chief information security officer, said crypto’s biggest security threats are increasingly shifting away from smart contract bugs and toward AI-powered social engineering and compromised credentials that target people rather than protocols.

Coates warned that recent ecosystem incidents tied to advanced compromises, including fake identities and AI generated scams, point to where security pressure will build next, and he framed the issue as an operational or Web2 related weakness that can lead to key compromise.

He added that Solana is evaluating post quantum cryptography and is pushing for security systems that protect users by default, arguing the industry must “meet users where they are” rather than relying on users to act as security experts.

CoinDesk also notes Coates previously held security leadership roles at Twitter and Mozilla, and that in his current foundation role he works with Solana ecosystem projects on security practices and engages regulators on cybersecurity standards, as he expects AI and deepfakes to make spoofing and fraudulent outreach more convincing.

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