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The security company SlowMist has recently revealed a new type of MEV bot scam targeting users. Scammers are attempting to deceive users by exploiting the rising popularity of the viral artificial intelligence chatbot, ChatGPT. SlowMist has urged users to avoid clicking on unknown links or executing suspicious code, as those who believe the code is generated by ChatGPT face the risk of losing their investments.
New AI-Driven Scam Tactics
Cybercriminals are directing users towards MEV bots with promises of easy and passive income. The system previously known as “Uniswap Arbitrage MEV Bot” is now being marketed as “ChatGPT Arbitrage MEV Bot.” Scammers claim to utilize ChatGPT for code generation in tutorial videos on platforms like YouTube, aiming to reduce skepticism and encouraging users to open MetaMask wallets and create a purported arbitrage bot through a fake Remix site.
The scam initiates by requesting users to deposit ETH to activate the bot. However, when users click the button to start their investments, all ETH is transferred to the scammers’ wallets. According to SlowMist’s research, the wallet address used by scammers has accumulated 30 ETH since the end of August. These ETH funds are either transferred directly to cryptocurrency exchanges or sent to temporary storage addresses.
How Can Users Protect Themselves from Scammers?
Scammers aim to avoid drawing attention by collecting small amounts from many individuals. Most victims cannot recover their losses legally, which allows scammers to continuously change their names and persist in their fraudulent activities. The Remix platform has previously issued warnings against such scams, and users are sharing their experiences in comments to alert others about these frauds.
SlowMist advises all users to steer clear of unknown links and suspicious code. It’s essential to verify the safety of code claimed to be written by ChatGPT or tools like Claude. Many users, in pursuit of passive income, unknowingly fill the scammers’ pockets, highlighting the need for investors to evaluate every opportunity carefully and protect their assets.
