Peckshield has sent out a warning about ChatGPT pump & dump tokens. Two tokens have already lost 100% of their value, while the third lost 65%. Blockchain security firm PeckShield has issued an alert on Twitter about newly created BingChatGPT tokens. These are reportedly ‘pump and dump’ tokens related to AI-powered chatbot ChatGPT. #PeckShieldAlert PeckShield […]
According to a blog post published on 20 February, at least three BingChatGPT tokens appear to be part of honeypot schemes, which are smart contracts that trick a user into transferringMoreover, PeckShield confirmed that at least two of the identified tokens have already lost nearly 100% of their value. Additionally, a third token lost 65%.
Deployer 0xb583, a bad actor behind the tokens, created dozens of tokens using a pump and dump scheme, mentioned PeckShield.of OpenAI’s ChatGPT technology being integrated into Bing, Microsoft’s Edge web browser. The token’s name could be an attempt to dupe victims into thinking they are connected to Microsoft. Thus, they would be under the assumption that they were capitalizing on the hype surrounding AI chatbots.
Chainalysis also mentioned that 1.1 million tokens were launched in 2022, but barely 40,521 impacted the crypto ecosystem. “Of the 40,521 tokens launched in 2022 that gained sufficient traction to be worth analyzing, 9,902, or 24%, saw a price decline in the first week indicative of possible pump and dump activity.”Subscribe to get it daily in your inbox.
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