More than a hundred %FakeTokens claiming to be linked to the %ChatGPT artificial intelligence (AI) app have flooded %Cryptocurrency markets worldwide and duped unsuspecting investors, say authorities.
Criminals are attempting to cash in on the ChatGPT craze that has gripped the technology sector by issuing fake tokens associated with the AI chatbot.
Market regulators warn that these tokens have no official association with ChatGPT or OpenAI, the company that developed the chatbot.
OpenAI is not a publicly traded company, and it has not issued any cryptocurrencies tied to its chatbot. Any digital tokens claiming to be linked to ChatGPT are fakes, say authorities.
By some estimates as many as 170 different digital tokens claiming to be associated with ChatGPT or OpenAI have been issued in recent weeks.
Most of the fake tokens have been issued on BNB Chain, although 25 tokens have also shown up on the %Ethereum () network.
Fake ChatGPT tokens have also been spotted on blockchains such as Solana, Arbitrum, OKChain and Cronos.
The most popular cryptocurrency linked to ChatGPT currently has a market capitalization of over $250 million U.S., with over 300 unique holders and $600,000 U.S. in liquidity.
ChatGPT has taken the world by storm since being released last fall, becoming the fastest app in history to reach 100 million downloads.
%Microsoft () has invested more than $10 billion U.S. in privately held OpenAI and is working to integrate ChatGPT’s functionality into its Bing search engine.