Learn from my mistake, these people aren't playing

[Outhue]

I made 10x from VIOT, a artificial intelligence project that I invested in some weeks back and I am excited about what's coming but today I made a terrible mistake, if you are on point with latest crypto news you must have heard that Microsoft is going after ChatGPT and OpenAI with up to 10 billion dollars ..

There is a AI project on coinmarketcap named OpenAI ERC token, I thought this token has something to do with OpenAI but I went ahead and bought some, later I started becoming curious and decide to do more digging.

I found out that the real OpenAI has nothing to do with OpenAI ERC token, in fact it's a scam project trying to take advantage of AI success this year, the LOGO is the same, this was why I fell for the shit token.



The real OpenAI link is https://openai.com/
The fake OpenAI ERC link is https://www.openaierc.com/

Be careful out there famz, these scammers are not playing

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[I_Anime]

You know, you should have been more cautious especially after everything that going on in crypto and also from the fact that you were investing on altcoin Infact a token.
without proper investigation never invest in any altcoins or token no matter the roi thanks for the info though.

[blockman]

Remember the squid token when it was released during the time when the Squid Game series on Netflix became popular? That's how the developers and scammers go with these hype projects that have no relation to the crypto market.
They're riding the fame of it as if they're the ones who are actually the closes project that should people invest in with their money. Yeah, it's a mistake by many, not just you, and sorry about your loss for falling with that.

[Alone055]

You should have checked on their official website to see if they have mentioned it anywhere that the token is associated with them or not. I checked and found nothing like that, but I'm still not sure why you called it a scam.
Can you please elaborate a bit on that? Why do you think it is a scam token? Was it rugpulled? Did you tokens disappear?

[o48o]

Never ever assume that some token with famous name has anything to do with the original project. Because in most cases, it has zero to do with it. In fact it's a guarantee of future rug scam.

Creating a token is not regulated in any way, anyone can name their token to anything and list it to most indexing sites. People even traded squid token that was total llegal ripoff from squid game and no one batted an eye. And then acted surprised when it was a rug.
 

[TimeTeller]

Never ever assume that some token with famous name has anything to do with the original project. Because in most cases, it has zero to do with it. In fact it's a guarantee of future rug scam.

Creating a token is not regulated in any way, anyone can name their token to anything and list it to most indexing sites. People even traded squid token that was total llegal ripoff from squid game and no one batted an eye. And then acted surprised when it was a rug.
 

I remember before, some scammers will change some of the letters on the site name like from l to 1.
So people at first, won't distinguish the difference. They thought it is also the official website of the project.
This is a reminder to everyone that scammers are still not changing their tactics, as long as they can screw up these gullible people, they will.
This is also the reason why we need to be meticulous in joining those sites as fraudsters are everywhere.

[uneng]

I don't blame you OP, because sometimes it's really easy to fall for such scammy attempts if we are distracted. Especially if you don't want to wait too long until start investing, as if we wait for too long the opportunity may not be available anymore later.

Thanks for the reminder, next time I will pay more attention to projects raising funds in name of famous and consolidated companies.

When we suspect of another project futurely, there is instant way to check its legitimacy. The safest approach would be to contact the company they claim to be raising funds for, wait for a reply from their official support and only then proceed. Unfortunatelly, it can take up to several days to receive a reply from such companies. That is, if they reply...

[TastyChillySauce00]

The scammer was making a token that imitated the the real one. I would not be surprised if you have found it. There are so many imitating tokens being listed in CMC. i don't know why cmc was this bad to listing so many scam token without even filtering them. AI project has been hyped due to the ChatGPT https://coinmarketcap.com/id/view/ai-big-data/

Look at how mostly of tokens were pumping so high. The same story is always repeating over and over again. The only stupid people who bought that fake tokens that listed in CMC.

As far as i know that openai never release the token and that means any token used name of openai was scam

[Fundamentals Of]

Nothing's surprising here. We can probably generalize and consider that 90% or above of the coins listed on coinmarketcap are nothing but shitcoins. And as shitcoins they could be scam, or just a way for developers to earn from innocent and greedy newbies, or very poor projects, mostly copies of other projects, that have actually no chance of becoming successful. Coinmarketcap is terrible in screening new coins. They simply allow obvious scams to get to their list if the price is right.

[wxa7115]

I made 10x from VIOT, a artificial intelligence project that I invested in some weeks back and I am excited about what's coming but today I made a terrible mistake, if you are on point with latest crypto news you must have heard that Microsoft is going after ChatGPT and OpenAI with up to 10 billion dollars ..

There is a AI project on coinmarketcap named OpenAI ERC token, I thought this token has something to do with OpenAI but I went ahead and bought some, later I started becoming curious and decide to do more digging.

I found out that the real OpenAI has nothing to do with OpenAI ERC token, in fact it's a scam project trying to take advantage of AI success this year, the LOGO is the same, this was why I fell for the shit token.



The real OpenAI link is https://openai.com/
The fake OpenAI ERC link is https://www.openaierc.com/

Be careful out there famz, these scammers are not playing

Thanks for having the courage of reveling your story, as it is very common that once people get scammed they prefer to not talk about it as they are disappointed in themselves by having lost their money.

And you know what is worse? This kind of scam is very common, scammers spend all their time trying to figure out how to lure their victims, and one of the easiest ways to do this is by creating a scam related to a topic that is currently hot, and AI has been a hot topic recently so it does not surprise me they have used it to scam you, and they have probably scammed many other people during the last weeks by taking advantage on the desire of investors had on putting their money in a project like this.

[klidex]

Nothing's surprising here. We can probably generalize and consider that 90% or above of the coins listed on coinmarketcap are nothing but shitcoins. And as shitcoins they could be scam, or just a way for developers to earn from innocent and greedy newbies, or very poor projects, mostly copies of other projects, that have actually no chance of becoming successful. Coinmarketcap is terrible in screening new coins. They simply allow obvious scams to get to their list if the price is right.

But make no mistake, even though most Shitcoins are scam coins, there are also those that you can really rely on to take profits.
Recently listed Shitcoins have very low prices and we can find out and choose Shitcoins that have good progress, That way there is still a large percentage of chances that one day they will experience Hype and the price will soar.
Although indeed if investing or trading in Shitcoin you have to be extra careful because it has a very big risk of losing the money invested.
The ups and downs of Shitcoin prices also tend to be faster and more unpredictable.

[Mr. Magkaisa]

   -  You made a mistake mate, and that was investing first instead of doing your research first, it was too late when you did it to know what you were getting into.

Anyway, it's been there and happened, at least next time you know what you're going to do right, then no one will hit the word "THOUGH" just be careful next time mate. Good day...

[LogitechMouse]

This is the problem when investors will invest first before researching. At least think twice or even thrice if possible.
I wonder what happened to the money that you invested?

Either way, it's good that you made a thread spreading awareness to scam coins like this one that they are taking advantage of what's hype right now which is the ChatGPT. This is also the reason why I'm only focusing on Bitcoin and other top altcoins. 90% or even 95% of the total number of altcoins right now are either a scam coin or a dead coin. Just better to invest into the top altcoins and Bitcoin of course.

I just hope that no people or at least a few only will fall into this kind of way of scamming.

[Kemarit]

Thanks for letting us know, yeah this scammers are not going to stop in taking people's money with this kind of trick. So we should really be careful on what we invest, specially projects that are pure hype, we should DYOR.

It might take some time for us to do that, but at least we can sleep at night knowing that we have invested on the right project.

And hopefully newbies or even experience once will learn from the mistakes of OP not to invest on something just because of the name or association with other projects.

[Kelvinid]

Scammers are then serious about their work trying to take advantage of other projects. If we are too rushed to invest in a new project because we believe it was promising to look at but in the end, we just know that we get scam-investing shitcoins. This is to emphasize the importance of doing deep research before making a step otherwise, we are stake to lose our money.

Besides, scam projects are flooded everywhere and most are new projects, we never know what is legit.
Indeed right, scammers are not playing as they are working hard in order to live.

[Jackl87]

There is a AI project on coinmarketcap named OpenAI ERC token, I thought this token has something to do with OpenAI but I went ahead and bought some, later I started becoming curious and decide to do more digging.
I found out that the real OpenAI has nothing to do with OpenAI ERC token, in fact it's a scam project trying to take advantage of AI success this year, the LOGO is the same, this was why I fell for the shit token.

Well first of all thank for the heads up OP. I also have to say though, that you should have done it the other way around obviously. You should have done your research before you bought those coins and not afterwards and you should do it this way all the time before you invest into anything. That being said it seems like you still made a pretty good purchase as the price is up 170% in the last 24 hours so you could have make a nice profit if you sell now.
I am surprised how many naive investors are out there in the crypto world. The volume of that scam token is also up more than 1200%, which means there are probably hundreds of people that bought this coins without even checking who is behind it.

[m2017]

You seem to be not a beginner already, but make their typical mistake.
Before any investment, you need to carefully check everything and try to get the most reliable information about the project. The more you learn, the less risk you expose yourself to.
You paid the price for evaluating the project only by its name, and indeed, let your mistake become a reminder to others.

There will always be many such scam projects with hype names. Beware.

[Bananington]

The real OpenAI link is https://openai.com/
The fake OpenAI ERC link is https://www.openaierc.com/

Be careful out there famz, these scammers are not playing

These scammers are always thinking fast and ahead of people. They know how well people want to invest in new projects around new breakthrough innovations and they always somehow position themselves to fool people making them loose money even without some of them not knowing. We have to give it to these people because they are very hardworking, the bad thing is that they are using their hardwork to steal from people instead of thinking of how to get their own.

[goaldigger]

We can still be a victim even if we already know what to do, and this is indeed a lesson to be learned.
This is one of the reason why fake projects copy the name of the original project and even use the almost the same logo, its to confuse investors and to scam them. This happened many times already, again if you don't want to become a victim of those fake projects try to analyze multiple times and ask the community as well about the project, usually they analyze more and you can get an idea from them.

[jrrsparkles]

Prior to making investment its important to know what you're investing into so that costed you in here.

Never go with your money just for the sake of its name atleast try to find whether it has potential to grow to give something or if you skip all these basics and trying to go with your own predictions based on nothing its just a gamble.