BingChatGPT 'pump & dump' tokens emerging by the dozens: Peckshield
Blockchain security firm Peckshield on Twitter said it has found dozens of pump-and-dump tokens purporting to be related to ChatGPT. Blockchain security firm Peckshield has raised the alarm after finding dozens of tokens purporting to be related to artificial intelligence (AI) powered chatbot ChatGPT. In a Feb. 20 post, the firm revealed at least three "BingChatGPT" tokens appear to be part of honeypot schemes — a smart contract that tricks a user into sending Ethereum (ETH), which the attacker then traps and retrieves. Some of the addresses reportedly associated with the BingChatGPT tokens. Source: PeckShield According to Peckshield, at least two of the tokens identified have already lost nearly 100% of their value, while a third is at a 65% loss — in what is often referred to as a “pump and dump” scheme or “rug pull.” A pump-and-dump scheme typically involves the creators orchestrating a campaign of misleading statements and hype to persuade investors into purchasing tok...