Cybersecurity firm SlowMist has issued a warning regarding a new scam involving MEV bots leveraging interest in ChatGPT to deceive users.

How Do Scammers Operate?

Fraudsters entice users with promises of effortless earnings from MEV bots, now marketed as 'ChatGPT Arbitrage MEV Bots.' They present YouTube videos claiming ChatGPT can produce necessary code, diminishing users' wariness. This manipulation drives interaction with a fake Remix site to create what they believe to be an arbitrage bot.

What Should Users Do to Stay Safe?

Upon engaging with these scams, victims are asked to deposit ETH to activate their bot. Unfortunately, once attempting to invest, their ETH is swiftly redirected to the scammers' wallets. Research from SlowMist indicates these wallets have amassed 30 ETH, frequently transferred to exchanges or temporary holding addresses.

Recommendations for Security

SlowMist urges vigilance against scams with key recommendations: * Avoid unknown links and code. * Verify the authenticity of code claiming to come from ChatGPT or similar services. * Exercise caution when pursuing passive income opportunities. Understanding tactics employed by cybercriminals is crucial for user safety. With increasing reports of fraudulent activities, staying informed and cautious is essential for protecting investments effectively.

With increasing fraudulent schemes, staying vigilant and knowledgeable about tactics used to deceive users is crucial.