Tech
What is the new ChatGPT crypto scam and how you can protect yourself
A recent online report indicates a notable increase Youtube videos linked to the ChatGPT crypto scam. According to Gizmodo, numerous videos on the platform claim to offer easy earning opportunities without requiring genuine coding skills using ChatGPT. These videos also warn the crypto community about prevalent online scams. However, ultimately, they deceive viewers into making investments that result in financial losses. Here’s everything you need to know about the new type of online scam.
What is ChatGPT crypto scamChatGPT crypto scam takes advantage of the popularity of ChatGPT, a large language model, and the hype surrounding it cryptocurrency to trick people into sending their crypto funds to scammers.
Here’s how it works:* Misuse of AI credibility: Scammers exploit ChatGPT’s reputation, known for its ability to generate realistic and consistent text, to create a facade of legitimacy.
* Phishing via YouTube ads: Deceptive YouTube ads may promote “ChatGPT bots” or “cryptocurrency slippers” that promise easy profits. These ads often feature actors reading AI-generated scripts, making them seem more convincing.
* Fake free money offers: Scripts in these ads may warn viewers about crypto scams but then lure them with the promise of “risk-free” ways to earn money using codes or bots supposedly powered by ChatGPT.
* Hidden malicious code: The code provided, although appearing harmless at first glance, may contain hidden instructions that redirect your crypto wallet address to a wallet controlled by scammers when you connect it.
How to avoid the scam:* Be wary of promises of “free money”: If something seems too good to be true, it probably is. Legitimate investment opportunities require research and carry some level of inherent risk.
* Double check code and links: Never enter your crypto wallet address or connect your wallet to unknown platforms or code snippets.
* Rely on official sources: If you are interested in learning more about cryptocurrency, rely on information from reputable financial institutions or established cryptocurrency exchanges.