A recent online report indicates a notable increase in YouTube videos tied to the ChatGPT crypto scam. According to Gizmodo, numerous videos on the platform purport to offer easy money-making opportunities without requiring genuine coding skills using ChatGPT. These videos also caution the crypto community about prevalent online scams. However, they ultimately deceive viewers into making investments that result in financial losses. Here’s all you need to know about the new type of online scam.
What is ChatGPT crypto scamThe ChatGPT crypto scam leverages the popularity of both ChatGPT, a large language model, and the excitement surrounding cryptocurrency to trick people into sending their crypto funds to scammers.
Here’s how it works:* Misusing AI Credibility: Scammers use the reputation of ChatGPT, known for its ability to generate realistic and coherent text, to create a facade of legitimacy.
* Phishing Through YouTube Ads: Deceptive YouTube ads might promote “ChatGPT bots” or “crypto slippages” that promise easy profits. These ads often feature actors reading scripts generated by AI, making them seem more convincing.
* Fake Free Money Offers: The scripts in these ads might warn viewers about crypto scams but then lure them in with the promise of “risk-free” ways to earn money using code or bots supposedly powered by ChatGPT.
* Hidden Malicious Code: The provided code, while appearing harmless at first glance, might contain hidden instructions that redirect your crypto wallet address to a scammer-controlled wallet when you connect it.
How to Avoid the Scam:* Be Wary of “Free Money” Promises: If something sounds 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.
* Trust Official Sources: If you’re interested in learning more about cryptocurrency, rely on information from reputable financial institutions or established crypto exchanges.
What is ChatGPT crypto scamThe ChatGPT crypto scam leverages the popularity of both ChatGPT, a large language model, and the excitement surrounding cryptocurrency to trick people into sending their crypto funds to scammers.
Here’s how it works:* Misusing AI Credibility: Scammers use the reputation of ChatGPT, known for its ability to generate realistic and coherent text, to create a facade of legitimacy.
* Phishing Through YouTube Ads: Deceptive YouTube ads might promote “ChatGPT bots” or “crypto slippages” that promise easy profits. These ads often feature actors reading scripts generated by AI, making them seem more convincing.
* Fake Free Money Offers: The scripts in these ads might warn viewers about crypto scams but then lure them in with the promise of “risk-free” ways to earn money using code or bots supposedly powered by ChatGPT.
* Hidden Malicious Code: The provided code, while appearing harmless at first glance, might contain hidden instructions that redirect your crypto wallet address to a scammer-controlled wallet when you connect it.
How to Avoid the Scam:* Be Wary of “Free Money” Promises: If something sounds 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.
* Trust Official Sources: If you’re interested in learning more about cryptocurrency, rely on information from reputable financial institutions or established crypto exchanges.
This article was originally published by a timesofindia.indiatimes.com . Read the Original article here. .