Scammers are using AI labels to deceive users into deploying fake MEV arbitrage bots.
Over 30 ETH has been stolen since August, impacting more than 100 victims.
Users are lured by promises of passive income and fall for malicious smart contracts.
Cybercriminals have adapted to trending topics, rebranding their fraudulent schemes under popular names like “ChatGPT.” Earlier this year, SlowMist’s founder Cos warned users on X about arbitrage MEV bot scams. Since then, these schemes have evolved, with scammers now marketing their fake bots as “ChatGPT Arbitrage MEV Bots.”
These bots promise to monitor the Ethereum blockchain for arbitrage opportunities, allowing users to profit passively. The scammers claim the bot’s code was generated by ChatGPT, easing concerns about its legitimacy.
However, this AI mention is only a marketing tactic, briefly appearing in tutorial videos that contain numerous red flags, such as poor video quality and recycled footage.
Scammers are embedding MEV bot scams into tutorials, using AI buzzwords like ChatGPT to appear credible. They promise easy profits, but in reality, your funds are being funnele…
The post Cybercriminals Exploit ChatGPT’s Name in New Ethereum Scam: MEV Bot Fraud Unveiled appeared first on Coin Edition.
