Honeypot Scams Emerge in Newly Created BingChatGPT Tokens

02/20/2023 11:55 • Blockchain Buzz • 126 views

According to reports, PeckShield monitoring data shows that there have been dozens of newly created BingChatGPT tokens, three of which seem to be honeypot scams, and two of them have fallen by more than 99%. Deployer 0xb583 has created multiple tokens using the pull up shipment scheme.

PeckShield: There are many BingChatGPT tokens in the market, and you need to be alert to fraud

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PeckShield, a blockchain security company, has recently reported that several new BingChatGPT tokens have been created, with some of them turning out to be honeypot scams. Honeypot scams refer to a type of fraud where scammers lure unsuspecting victims by offering fake cryptocurrency or tokens. When the victims send their legitimate tokens or currency to the scammers, the latter disappears, leaving the victims with nothing in return.

According to the report, the deployment of the honeypot scams has been carried out by a party using the username “0xb583.” It appears that this party has used the pull-up shipment scheme to create multiple tokens, taking advantage of the excitement and bullish sentiment surrounding the BingChatGPT token. The pull-up shipment scheme is not new and has been seen in other cryptocurrency scams. It involves creating multiple tokens in a short period and then unloading them onto the market, thereby creating a false sense of demand and driving up the price.

However, in this case, the fraudulent nature of the scheme was quickly uncovered. At least three of the new BingChatGPT tokens were found to be honeypot scams, with two of them falling by more than 99%. This means that investors in these two tokens lost almost all of their investment.

PeckShield’s monitoring data is a useful tool for detecting such fraudulent activities in the cryptocurrency market. With the advent of new tokens and coins, investors are eager to get in on the ground floor and buy early. However, this also makes them susceptible to various types of scams, including honeypot scams. PeckShield’s data analysis can help investors make informed decisions by providing them with up-to-date information on the legitimacy and viability of new tokens.

In summary, the emergence of honeypot scams in newly created BingChatGPT tokens is a cautionary tale for investors. While the pull-up shipment scheme may seem like an attractive opportunity to make quick gains, it is vital to thoroughly research the parties involved, scrutinize the token’s whitepaper, and remain vigilant against scams. As cryptocurrency and blockchain technology continue to evolve, so will the tactics of fraudsters. Investors must stay informed and alert to protect their investments from bad actors.

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Honeypot Scams Emerge in Newly Created BingChatGPT Tokens

PeckShield: There are many BingChatGPT tokens in the market, and you need to be alert to fraud

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