BEWARE OF BING AI CHAT AND CHATGPT PUMP-AND-DUMP TOKENS — WATCH THE MARKET REPORT LIVE

The rise of artificial intelligence has been nothing short of meteoric, captivating the world with its potential to revolutionize industries and redefine how we interact with technology.With the launch of innovative AI chatbots like ChatGPT and the integration of AI into search engines like Bing, the excitement has reached a fever pitch.However, this surge of interest has also attracted a darker element: pump-and-dump schemes preying on unsuspecting investors in the cryptocurrency market. BingChatGPT pump-and-dump tokens emerging by the dozen: PeckShield. Blockchain security firm PeckShield has raised the alarm after finding dozens of tokens purporting to be related to artificial intelligence (AI) powered chatbot ChatGPT.Blockchain security firm PeckShield has issued a stark warning about the proliferation of tokens falsely associated with these AI technologies, designed to trap traders and pilfer their funds. On this week s episode of The Market Report, Cointelegraph s resident experts discuss ChatGPT pump-and-dump tokens and why you should be cautious. Get access to our best features Get StartedThis is a critical moment for crypto enthusiasts and potential investors to exercise extreme caution and conduct thorough due diligence before investing in any AI-related token. The feature went live earlier this week in ChatGPT and Sora, OpenAI s AI video-generation tool, for subscribers of the company s Pro plan, priced at $200 a month, and will be available soon toDon't let the allure of AI blind you to the inherent risks of the volatile crypto landscape. [ad_1]This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat.We will be doing things a little differently this week since our handsome and chaThis week, tune in to Cointelegraph's ""The Market Report"" to delve deeper into this emerging threat and equip yourself with the knowledge to navigate these treacherous waters.

The Rise of AI-Related Crypto Scams: A Dangerous Trend

The cryptocurrency market is notorious for its volatility and susceptibility to scams. Beware of Bing AI chat and ChatGPT pump-and-dump tokens Watch The Market Report live PANews ｜ 1:11 On this week s episode of The Market Report, Cointelegraph s resident experts discuss ChatGPT pump-and-dump tokens and why you should be cautious.Now, with the added hype surrounding AI, opportunistic actors are exploiting the trend to launch fraudulent tokens and schemes. PeckShield has warned crypto users on February 20 that many BingChatGPT tokens have emerged, and that they are led by attackers which use illicit pump and dump schemes to trap traders and steal their money.These Bing AI chat and ChatGPT pump-and-dump tokens operate by creating artificial buzz and inflating the token's price before the creators sell off their holdings, leaving other investors with worthless assets.This predatory practice, known as a pump-and-dump, is a serious concern that demands immediate attention and awareness within the crypto community.

PeckShield's Warning: Identifying the Red Flags

PeckShield, a reputable blockchain security firm, has been at the forefront of identifying and exposing these AI-related crypto scams. This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat. We will be doing things a little differently this week since our handsome and charming host, Joe Hall, will be somewhere over the Atlantic during the livestream and will not be able to join us. Not to worry, though, as our residentTheir research reveals a disturbing trend of dozens of tokens falsely claiming affiliation with ChatGPT and Bing AI chat. Blockchain security firm PeckShield has raised the alarm after finding dozens of tokens purporting to be related to artificial intelligence (AI) powered chatbot ChatGPT.These tokens often lack fundamental utility, transparency, and credible development teams.PeckShield’s warning underscores the importance of independent research and skepticism when evaluating any cryptocurrency, particularly those capitalizing on trending technologies like AI.

• Lack of Transparency: Be wary of projects with vague whitepapers, anonymous teams, and unclear roadmaps.
• Unrealistic Promises: Scammers often make outlandish claims about guaranteed returns or revolutionary technology that lacks substance.
• Pump-and-Dump Signals: Look for sudden, unexplained price surges followed by rapid declines. On this week s episode of The Market Report, Cointelegraph s resident experts discuss ChatGPT pump-and-dump tokens and why you should be cautiousThis is a classic indicator of a pump-and-dump scheme.
• Social Media Hype: Be cautious of projects heavily promoted by paid influencers or bots on social media platforms.

Understanding Pump-and-Dump Schemes

A pump-and-dump scheme is a type of securities fraud where promoters artificially inflate the price of a stock or cryptocurrency through false and misleading positive statements, in order to sell their own holdings at a profit.Once the promoters dump their shares, the price crashes, leaving unsuspecting investors with significant losses. This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat.We will be doing things a little differently this week since our handsome and charming host, Joe Hall, will be somewhere over the Atlantic during the livestream and will not beThese schemes are particularly prevalent in the cryptocurrency market due to its relatively unregulated nature and the ease with which new tokens can be created.

How Pump-and-Dump Schemes Work

1. Creation of a Token: Scammers create a new cryptocurrency token, often with a catchy name and superficial association with a popular trend like AI.
2. Building Hype: They use various marketing tactics, including social media campaigns, paid promotions, and fake news, to generate excitement and attract investors.
3. Artificial Price Inflation (Pump): The promoters buy large quantities of the token, driving up its price and creating a false sense of demand.
4. Selling Off (Dump): Once the price reaches a predetermined level, the promoters sell off their holdings, reaping substantial profits.
5. Price Collapse: The sudden sell-off causes the token's price to plummet, leaving other investors with significant losses.

ChatGPT and Bing AI Chat: Genuine Innovation vs. Blockchain security firm PeckShield has raised the alarm after finding dozens of tokens purporting to be related to artificial intelligence (AI) powered chatbot ChatGPT. Some of these tokens have already lost most of their value, if not all, in what is often referred to as a pump-and-dump scheme or a rug pull.Exploitation

While ChatGPT and Bing AI chat represent genuine advancements in artificial intelligence, it's crucial to distinguish between these legitimate technologies and the fraudulent tokens that seek to exploit their popularity. This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat. We will be doing things a little differently this week since our handsome and charming host, Joe Hall, will be somewhere over the Atlantic during the livestream and will not be ableOpenAI's ChatGPT, for example, offers a wide range of AI-powered capabilities, from generating text and translating languages to answering questions in an informative way.Similarly, Bing AI chat integrates AI into search, providing users with more comprehensive and conversational search experiences. This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat.We will be doing things a little Beware of Bing AI chat and ChatGPT pump-and-dump tokens Watch The Market Report liveThese technologies have real-world applications and are backed by reputable organizations.In contrast, the pump-and-dump tokens merely piggyback on the AI hype without offering any tangible value or innovation.

Spotting the Difference: Legitimate Projects vs.Scams

Here's a breakdown of how to differentiate legitimate AI projects from potential scams:

• Team and Background: Legitimate projects have transparent teams with verifiable backgrounds and relevant experience. On this week s episode of The Market Report, Cointelegraph s resident experts discuss ChatGPT pump-and-dump tokens and why you should be cautious. This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump- and -dump token s purporting to be related to ChatGPT and Bing AI chat.Scams often have anonymous or pseudonymous teams.
• Whitepaper and Roadmap: Legitimate projects have detailed whitepapers outlining their technology, goals, and development roadmap.Scams often have vague or nonsensical whitepapers.
• Utility and Use Case: Legitimate projects have a clear utility and use case for their token.Scams often lack a practical purpose and rely solely on hype.
• Community Engagement: Legitimate projects have active and engaged communities.Scams often have artificially inflated social media followings and limited interaction.
• Audits and Security: Legitimate projects undergo security audits by reputable firms. This post was originally published on this site On this week s episode of The Market Report, Cointelegraph s resident experts discuss ChatGPT pump-and-dump tokens and why you should be cautious.Scams often lack proper security measures and are vulnerable to exploits.

Protecting Yourself from AI-Related Crypto Scams

In the Wild West of crypto, self-protection is paramount.Here's how to safeguard your investments and avoid falling victim to AI-related pump-and-dump schemes:

Due Diligence: Your First Line of Defense

Before investing in any cryptocurrency, conduct thorough due diligence. Tune in to The Market Report at ET on Tuesday, Feb. 21, to watch our resident experts discuss the latest updates regarding the price of Bitcoin andDon't rely solely on hype or social media endorsements.Investigate the project's team, technology, whitepaper, roadmap, and community.Verify the information from multiple sources and be skeptical of claims that seem too good to be true. On this week s episode of The Market Report, Cointelegraph s resident experts discuss ChatGPT pump-and-dump tokens and why you should be cautious. This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat.Remember, if it sounds too good to be true, it probably is.

Risk Management: Investing Responsibly

Never invest more than you can afford to lose.Cryptocurrency investments are inherently risky, and the value of your holdings can fluctuate significantly. This week on The Market Report, the resident experts at Cointelegraph discuss dozens of pump-and-dump tokens purporting to be related to ChatGPT and Bing AI chat. We will be doing things a little differently this week since our handsome and charming host, Joe Hall, will be somewhere over the Atlantic during the livestream and will not be able to join us.Diversify your portfolio to spread your risk across multiple assets.Avoid investing based on fear of missing out (FOMO) or emotional impulses. This week on The Market Report, the resident consultants at Cointelegraph talk about dozens of pump-and-dump tokens purporting to be associated to ChatGPT andMake informed decisions based on thorough research and a well-defined investment strategy.

Security Best Practices: Protecting Your Assets

Protect your cryptocurrency holdings by implementing robust security measures. Watch Dogs: Legion; Beware of Bing AI chat and ChatGPT pump-and-dump tokens Watch The Market Report live cointelegraph.com Open.Use strong, unique passwords for your accounts and enable two-factor authentication (2FA) wherever possible.Store your cryptocurrencies in secure wallets, such as hardware wallets or reputable software wallets.Be wary of phishing scams and never share your private keys or seed phrases with anyone.

Stay Informed: Keeping Up with the Market

Stay informed about the latest developments in the cryptocurrency market and the emerging trends in AI.Follow reputable news sources, industry experts, and blockchain security firms to stay ahead of potential scams and risks.Participate in online communities and forums to share information and learn from others.Knowledge is your most valuable asset in the crypto world.

The Market Report: Your Source for Expert Insights

Cointelegraph's ""The Market Report"" provides valuable insights and analysis on the cryptocurrency market, including the latest trends, risks, and opportunities.This week's episode focuses on the growing threat of ChatGPT pump-and-dump tokens and offers practical advice on how to protect yourself from these scams.Tune in to hear expert perspectives and gain a deeper understanding of the market dynamics at play.While Joe Hall is away, the team will be providing the usual insightful analysis.

Why Watch The Market Report?

• Expert Analysis: Gain insights from seasoned cryptocurrency analysts and industry experts.
• Market Trends: Stay up-to-date on the latest trends and developments in the crypto market.
• Risk Assessment: Identify potential risks and scams to protect your investments.
• Practical Advice: Learn actionable strategies for navigating the crypto landscape.

Real-World Examples of AI-Related Crypto Scams

Unfortunately, the cryptocurrency space is littered with examples of pump-and-dump schemes that capitalized on hype and left investors reeling.While naming specific tokens might inadvertently boost their visibility (even negatively), it's important to understand the patterns they exhibit.

Think of a token that launched with promises to revolutionize AI-powered trading.It attracted a large following on social media with flashy marketing and exaggerated claims.Early investors saw substantial gains as the price surged.However, the underlying technology was nonexistent, and the development team disappeared shortly after the initial hype, taking their profits with them and leaving countless investors with worthless tokens.This is a classic example of the pump-and-dump in action.

Another common tactic is to create a token with a name strikingly similar to a legitimate AI project, hoping to confuse investors.These ""copycat"" tokens often lack any technical innovation or real-world application.They rely solely on the name recognition of the legitimate project to attract unsuspecting investors.The key is to always verify the official website and social media channels of any project before investing to ensure you're dealing with the genuine article.

The Future of AI and Crypto: A Call for Vigilance

The intersection of AI and cryptocurrency holds immense potential, but it also presents significant risks.As AI technology continues to evolve, we can expect to see more innovative applications in the crypto space.However, we must also remain vigilant against scams and fraudulent schemes that seek to exploit the hype surrounding AI.By staying informed, conducting thorough research, and implementing robust security measures, we can navigate this evolving landscape and protect our investments.The future of AI and crypto is bright, but it requires a healthy dose of skepticism and a commitment to responsible investing.

Looking Ahead: Responsible Innovation

The key to harnessing the power of AI in the crypto space lies in responsible innovation.This means prioritizing transparency, security, and genuine utility.Projects should focus on developing practical applications of AI that address real-world problems.They should also prioritize the security of their platforms and the protection of their users' assets.By fostering a culture of responsible innovation, we can unlock the transformative potential of AI and crypto while mitigating the risks of scams and fraud.

Conclusion: Stay Alert and Informed

The emergence of Bing AI chat and ChatGPT pump-and-dump tokens highlights the need for heightened awareness and caution in the cryptocurrency market.Don't let the allure of AI blind you to the inherent risks of investing in unproven or suspicious projects.Always conduct thorough due diligence, manage your risk responsibly, and stay informed about the latest trends and scams.Remember, knowledge is your best defense against becoming a victim of a pump-and-dump scheme.Tune in to Cointelegraph's ""The Market Report"" for expert insights and practical advice on navigating the crypto landscape.And most importantly, be skeptical, be informed, and be safe.