Blockchain security firm SlowMist warns of a surge in users falling prey to an old trading bot scam rebranded to capitalize on artificial intelligence hype. Cybercriminals are now using OpenAI’s ChatGPT to rename their scam bots, previously known as 'Uniswap Arbitrage MEV Bot,' to 'ChatGPT Arbitrage MEV Bot.' By associating ChatGPT with their scams, scammers aim to appear more legitimate and trustworthy. Victims are enticed with promises of a profitable trading bot that monitors new tokens and price fluctuations on Ethereum. The scam involves creating a MetaMask wallet, clicking on a fraudulent Remix link, deploying the bot, and funding the smart contract. SlowMist has identified three scammer addresses using these tactics, resulting in significant losses for victims. The firm advises caution against YouTube videos promoting such scams, highlighting red flags to watch out for. Read more AI-generated news on: https://app.chaingpt.org/news