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ChatGPT tokens: a danger?

Watch out for AI tokens? With the hype around artificial intelligences like ChatGPT, suspected scammers feel right at home in the crypto space.

By Mike Hesp
• 2 min read
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ChatGPT tokens: a danger?

Watch out for AI tokens? With the hype around artificial intelligences like ChatGPT, suspected scammers feel right at home in the crypto space.

Blockchain security firm PeckShield has found numerous tokens that are allegedly linked to the ChatGPT AI. In a Twitter post PeckShield claims to have identified several of these cryptocurrencies as part of a fraud scheme.

At least two of the tokens in question have already lost 100 percent of their value, while a third shows a 65 percent loss. The so-called "Deployer 0xb583" is responsible for creating "dozens of tokens with a pump-and-dump scheme", he adds.

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In this scam, the price is artificially pumped up (pump) and then quickly dumped (dump). Since its release, ChatGPT has sparked a real AI hype that has spread across nearly every sector of the economy.

While scammers are seizing the opportunity to lure unsuspecting investors, there’s also a risk of losses with perfectly legitimate AI cryptocurrencies.

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