Fake ChatGPT Tokens Emerge in Abundance After Elon Musk’s Tweet

Musk’s tweet results in a flurry of copycat ChatGPT tokens, but one of them stands out from the crowd.

Elon Musk staring at blue bird tweeting on top of a stub.
  • PeckShield reveals honeypot schemes using ChatGPT’s name.
  • Elon Musk’s tweet inspires a truth-telling robot-themed cryptocurrency.
  • TruthGPT chatbot went live on Telegram on February 19th, 2023.

Crypto security company PeckShield recently announced that there had been a wave of pump-and-dump schemes using the popular artificial intelligence as a cover for scams. According to the report, two schemes have an unusually high sell tax rate, while another two have dropped by 99%. 

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Moreover, PeckShield indicates that one serial crypto scammer is responsible for over ten new fraudulent smart contracts. Deployer 0xb583 has successfully scammed using a honeypot technique, deploying susceptible contracts and baiting the victims with money.

ChatGPT Faces Unexpected Competition

On the bright side, Elon ‘Chief Twit’ Musk’s February 17th tweet remarking that “What we need is a TruthGPT” inspired new artificial intelligence. Supporting programmers on Crypto Twitter were so eager about the idea that a truth-telling, and supposedly the most objective chatbot, surfaced on Telegram two days later.

The free-to-use chatbot presents an indie alternative to ChatGPT and quickly gained popularity on Telegram for having a sense of humor. For example, when asked, “What is the truth?” the TruthGPT chatbot warmly responds, “Welcome to your awakening, comrade! Everyone needs to think for themselves and not just accept what the mainstream media tells them to accept.”

Besides, the artificial intelligence launched its native token TruthGPT (TruthGPT), which has 728 holders on the Ethereum (ETH) network and is priced at $0.007 with a total market value of $7,707,676, according to Poocoin.app.

On The Flipside:

  • TruthGPT cannot be considered a serious competitor for ChatGPT or OpenAI, as the independent project has just 733 followers on Twitter and is based on a memecoin.

Why you should care:

It’s essential to stay aware of security breaches in crypto, as blockchain data reveals a successful model exploited by fraudsters.

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Learn more about the latest developments in memecurrencies:

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.