• Blockchain security firm PeckShield has uncovered a new crypto scam that pretends to be affiliated with the ChatGPT AI chatbot.
• The scam involves honeypots and high sell taxes, both of which are designed to steal money from unsuspecting users.
• Microsoft’s recent announcement that it is launching an all-new AI-powered Bing search engine and Edge browser with OpenAI further fuels the ChatGPT craze – and scams looking to profit from it.
New Crypto Scam Uncovered
Blockchain security firm PeckShield has uncovered a new crypto scam that pretends to be affiliated with the ChatGPT AI chatbot. The scam involves honeypots and high sell taxes, both of which are designed to steal money from unsuspecting users.
Honeypots & High Sell Taxes
A honeypot is a type of scam whereby a malicious actor creates a fake crypto or crypto wallet to lure victims into investing, sending, or trading crypto. The scammer often poses as a legitimate business or organization, promising services or rewards. Sales tax is the amount of money taken once a token is sold; many legitimate projects use sales tax as an incentive for long-term holding and rewards for token holders. However, scammers use high taxes (often set at 100%) to steal money from unsuspecting users – two of these coins have already dropped nearly 100%.
Microsoft & OpenAI Partnership
Microsoft recently announced that it was launching an all-new AI-powered Bing search engine and Edge browser leveraging its partnership with OpenAI. This continues to fuel the ChatGPT craze – and scams looking to profit from it. Furthermore, DEXTools notes that some 20 ‘BingChatGPT’ coins have been issued on BNB Chain, Ethereum, and Arbitrum platforms since then.
Research & Due Diligence
Users need to research each coin they want to put their money into before investing in order not to fall victim to such scams. Additionally, verifying wallet addresses before making any transactions can also help ensure user safety when dealing with cryptocurrencies online.
Conclusion
The popularity of chatbots like ChatGPT means more opportunity for scammers looking to take advantage of vulnerable investors who don’t do their due diligence when researching projects they want to invest in – so always make sure you know what you’re getting into!