SlowMist Alerts Users About New Scam

Cybersecurity firm SlowMist has issued a warning regarding a newly identified scam involving MEV (Miner Extractable Value) bots that are luring unsuspecting users. This fraudulent scheme is cleverly leveraging the rising interest in the AI chatbot ChatGPT to mislead individuals. SlowMist emphasizes that users should refrain from clicking on links from unknown sources and executing dubious scripts, as these actions can jeopardize their investments.

How Do Scammers Operate?

The fraudsters are enticing users with promises of effortless earnings from MEV bots, which are now deceptively marketed as “ChatGPT Arbitrage MEV Bots.” They present YouTube videos claiming to show how ChatGPT can produce the necessary code, effectively diminishing any wariness users may have. This manipulative tactic encourages individuals to interact with a fake Remix site to create what they believe is an arbitrage bot.

What Should Users Do to Stay Safe?

Upon engaging with these scams, victims are often asked to deposit ETH to activate their bot. Unfortunately, as soon as users attempt to initiate their investment, their ETH is swiftly redirected to the scammers’ wallets. Research from SlowMist indicates that these wallets have amassed 30 ETH in a short span, with funds frequently transferred to exchanges or temporary holding addresses.

SlowMist urges users to be vigilant against such scams by following these key recommendations:

• Avoid unknown links and code.
• Verify the authenticity of any code claiming to come from ChatGPT or similar services.
• Exercise caution when pursuing passive income opportunities.

Understanding the tactics employed by cybercriminals is crucial for user safety. With increasing reports of these fraudulent activities, it is essential for individuals to remain cautious and informed to protect their investments effectively.