When AI Meets Crypto Unmasking the Scammers Behind the Collision

The Intersection of AI and Crypto Attracting Scammers – What You Need to Know

As the crypto industry continues to evolve, a new wave of scams is emerging, blending the hype of artificial intelligence (AI) with crypto. It’s like mixing cryptocurrency with the latest AI technology to create a Frankenstein’s monster of a scam. I mean, who needs an AI-powered crypto scam? Well, apparently some opportunistic individuals think it’s a brilliant idea to capitalize on unsuspecting investors. Talk about adding insult to injury!

Kathleen Breitman, co-founder of the Tezos blockchain, has sounded the alarm bells on this rising trend. In a commentary piece for Fortune, she warned investors of these deceptive schemes. Now, let’s dive into the three types of AI-related crypto scams she highlighted.

First, we have the “crypto tokens for access” scam. It’s like those infomercials that promise you magical access to exclusive products or services, but in this case, it’s all about AI models or services. Scammers try to exploit the overlap in the usage of the term “tokens” in both AI and crypto contexts. They claim you need these special tokens to unlock the wonders of AI. But let’s be real, most AI services that accept crypto are just scratching the surface. So, don’t fall for the illusion of AI tokens being the key to the AI kingdom.

Next up, we have the “data is the new oil” scam. Remember when everyone was talking about data being the new oil during the ICO boom in 2017? Well, scammers haven’t forgotten. They now peddle tokens that allegedly reward you for contributing personal data to AI training models through their so-called “data marketplaces.” But let’s face it, personal data is not some monetizable asset. It’s like trying to sell fake Rolex watches on a street corner. It might look shiny, but it’s just fool’s gold.

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Lastly, we have the “AI-branded tokens” scam. You know those products that slap the words “AI” or “GPT” (based on the popular chat bot ChatGPT) on their names to ride the hype train? Well, scammers are doing the exact same thing with tokens. They hope that the excitement surrounding AI will blind investors to their shady intentions. But here’s a pro tip: don’t judge a token by its cover. The real value lies in the technology and its potential, not in some fancy name.

In conclusion, Kathleen Breitman puts these AI and crypto merger attempts in their place. She emphasizes that genuine AI developers see no sense in these schemes. And let’s not forget the crypto industry’s knack for generating questionable business models to lure unsuspecting investors. It’s like they’re trying to sell you a fake Mona Lisa or convince you to buy your own private island in the middle of the desert.

So, dear investors, beware of these “shoehorned” tokens. Remember that the true value of crypto lies in providing a censorship-resistant store of value that unites people across borders. Don’t let the allure of AI blindsight you into falling for these scams. Stay vigilant and hodl your crypto with a smile on your face and a touch of skepticism in your heart.

Now, I’m handing the mic to you. Have you encountered any AI-related crypto scams? Share your stories in the comments below, and let’s expose these scammers for who they truly are!

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