Jun 2024 - ChainGPT Fake Token Rug Pull - $20k (Global)
"ChainGPT is an advanced AI infrastructure that develops AI-powered technologies for the Web3, Blockchain, and Crypto space. We aim to improve the Web3 space for retail users & startups by developing AI-powered solutions designed explicitly for Web3. From LLMs to Web3 AI Tools, ChainGPT is the go-to place to boost your Web3 flow with Artificial Intelligence."
"Reliable & Fast Source of Information. Ask ChainGPT Al any question related to Blockchain and Crypto. The AI can answer general and technical questions."
"The future of Web3 news is here. Our advanced AI model scans the web and curates short articles on trending topics every 60 minutes, informing you effortlessly."
"Generate or audit a Solidity smart contract. Describe the contract you want to create or paste the code to be audited, and our AI will handle the rest."
"AI-Generated NFTs are non-fungible tokens created based on user prompts using AI-powered algorithms. Within 30-60 seconds, anyone can deploy their NFTs on the Blockchain."
"We created an advanced AI model designed explicitly for Chart & Technical analysis to help experienced and new traders with strategies and implementation of technical analysis."
"The solutions developed by ChainGPT are tailored for retail users and enterprises. ChainGPT believes in developing open technologies and does not gate-keep the LLMs & applications developed by ChainGPT from other Web3 companies. Everyone is welcome to access ChainGPT's API & SDKs."
$20k ($19,550)
"The Fake CGPT on BNBChain is suspected of a rug pull, and the current token price has dropped by 100%."
"Be aware of this token! Team of this token has sold at least 33.088 BNB."
Further Analysis
ChainGPT offers a suite of tools related to AI, such as an AI chat bot, NFT art image generation, automatic news generation, smart contract auditing, technical analysis for trading, and more. Someone created a token named CGPT, not connected to the official ChainGPT, and was able to convince many investors to buy the token. Once they had the liquidity built up, they quickly minted and sold a large number of their new CGPT tokens. It is unlikely that any funds will be recoverable.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
50 Cent Website And Twitter Hack > > < < Farcana Liquidity Provider Wallet Breach
Sources/Further Reading
SlowMist Hacked - SlowMist Zone (Dec 31)
https://www.dextools.io/app/cn/bnb/pair-explorer/0x31bc199b81614a5a85e11b10c4224d39775ffdeb (Dec 31)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 31)
ChainGPT price today, CGPT to USD live price, marketcap and chart | CoinMarketCap (Dec 31)
ChainGPT - Unleash The Power of Blockchain AI (Dec 31)
Introduction | ChainGPT Documentation (Dec 31)
https://www.coingecko.com/en/coins/chaingpt (Dec 31)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 31)
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