Scammers are as soon as once more capitalizing on the recognition of Elon Musk’s synthetic intelligence chatbot Grok, with pretend tokens as soon as once more rising as a part of potential phishing assaults.
A pockets linked to former Binance CEO Changpeng “CZ” Zhao acquired 90 million pretend Grok (GROK) tokens on April 21, according to blockchain safety agency PeckShield.
The tokens are “likely a scam,” because the “deployer distributed it to multiple addresses via multisend,” PeckShield mentioned.
The X platform’s Grok AI chatbot has no official cryptocurrency and no plans to launch one sooner or later.
Related: Bitcoin up 33% since 2024 halving as institutions disrupt cycle
Fake tokens associated to the Grok token first emerged in 2023 when a scammer deployed an ERC-20 Grok token on Ethereum, which led to an over 90% drop after the deployer bought 0.5% of the whole provide, in accordance with blockchain knowledge visualization platform, Bubblemaps.
Scammers typically capitalize on the credibility of social media platforms, giant manufacturers, or celebrities like Elon Musk to domesticate a way of belief with victims.
Meta was essentially the most mimicked model in phishing reviews filed all through 2024, in accordance with a report by e mail safety supplier Mailsuite.
Coinbase was the most impersonated brand by scammers within the crypto business, however Meta was focused by over 25 instances as many scammers because the cryptocurrency alternate.
Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur Hayes
Elon Musk-related scams and pretend cash see a resurgence
Elon Musk-related scams and pretend tokens are seeing a resurgence as scammers proceed vying for buyers’ crypto holdings.
A pretend announcement claiming to be an official “AI Elon Musk stream” freely giving $20,000 value of cryptocurrency was flagged on April 14 by crypto restoration and safety advocate, Denis Thomas.
Multiple different Elon Musk-related memecoins had been launched on the BNB Smart Chain in current weeks, in accordance with a rip-off detector platform, Coinspeedrun.
Phishing scams like address poisoning contain tricking victims into sending belongings to fraudulent pockets addresses.
Phishing scams cost the crypto business over $1 billion throughout 296 incidents in 2024, making them a serious risk, in accordance with blockchain safety agency CertiK.
Magazine: Down to $200 one day, Pixels founder had $2.4M the next: Luke Barwikowski, X Hall of Flame
Read MoreCointelegraph.com News