Blockchain security analyst firm Peckshield reports about the dozens of newly created BingChatGPT tokens that appear as a pump-and-dump scheme.
At least three BingChatGPT tokens, according to PeckShield, seem to be used in honeypot schemes, which leverage smart contracts to deceive users into sending Ethereum, which the attacker then captures and exploits.
Two of the BingChatGPT tokens carried quite high sell taxes, and the values of two of them have already dropped over 99%.
According to PeckShield, deployer 0xb583 has already employed a pump-and-dump scheme to generate several tokens. Intriguingly, the stated rug pull address has produced tokens that incorporate popular terms like Elon Musk and Dogecoin.
The rise in such tokens may have come as a result of Microsoft’s integration of OpenAI’s chatbot technology into its Bing search engine. The ChatGPT-based Microsoft Bing AI is already under severe scrutiny.
The attackers may have launched these pump-and-dump tokens to make quick money by taking advantage of the publicity surrounding ChatGPT-based Microsoft Bing AI.
Recently, Chainalysis reported that the pump and dump scheme 2022 revealed a $4.6 billion cost. The firm reported around 9,900 several suspected fraudulent tokens launched last year.
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