Scammers are good at using the most hyped utility

[Crypt0Gore]

There are over dozens of meme coins that are now almost dead or dead already because they are the most trending hype in last bull market.

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish,  it seems the Doge and INU race is over, now it's A.I call for scammers.

Most new projects listing on CMC are now having _____ AI name, for example AkitaAI, StableAI etc, there is nothing to be expected of these new projects, they are here to grab some attention that won't last and they will make tons of money doing so, it's always the money race.

[Plaguedeath]

Artificial Intelligence has been discovered since long time ago, but now the improvement seems to become more crazy and will replace few human jobs. Actually every coins including Bitcoin are using AI, so it's misleading if AI only implemented for AI coins. If you read about few AI project's whitepaper, you will see they're not offering any use case and only using AI name to gain traffic.

However scammer isn't only use the most hyped utility, but the most hyped in everything including the death of Kobe Bryant and Queen Elizabeth.

[TravelMug]

Artificial Intelligence has been discovered since long time ago, but now the improvement seems to become more crazy and will replace few human jobs. Actually every coins including Bitcoin are using AI, so it's misleading if AI only implemented for AI coins. If you read about few AI project's whitepaper, you will see they're not offering any use case and only using AI name to gain traffic.

However scammer isn't only use the most hyped utility, but the most hyped in everything including the death of Kobe Bryant and Queen Elizabeth.

Yeah, even NFT's that has been stop, they continue to scam people with it. Just recently came across one news about it, but I totally forget which company it was though.

But in any case, anything that's hype in crypto, scammers are going to take advantage of it. How? creating fake websites and phish crypto investors for their password. So the moral in this case it that we really need to be very careful and vigilant specially with the huge project in the AI industry/sector.

[vv181]

Almost certainly artificial intelligence related project does not require blockchain. Simply there aren't any significant or requisite use cases to be incorporated, currently. It is widely known, perhaps, by experienced cryptocurrency users that a worthless token is always incorporated into what is currently happening. In fact, that is how they make a buzz.

It seems truly lucrative for them since there will always be a new newbie target within this space, and due to the pseudonymity nature of cryptocurrency, it makes them flexible to do their scam method. We know that there is various method of scams in the cryptocurrency ecosystem.

[Mpamaegbu]

Most new projects listing on CMC are now having _____ AI name, for example AkitaAI, StableAI etc, there is nothing to be expected of these new projects, they are here to grab some attention that won't last and they will make tons of money doing so, it's always the money race.

The question is "why is CMC allowing those perceived scam projects to be put on its site?" While starting out in 2017, the CMC was always my point of reference for this industry. Any coin I didn't find there was classified as a scam coin. There were some purchases I made solely based on their listings on CMC and not because anyone hyped them. Now, seeing that many scam projects are getting there and site owner is not bothered but only concerned for monetary gain is not just heartbreaking but appalling. For me, I won't touch anything Al is in it with a pole. I bought into one Al token last year but it's value is almost at zero level now.

[TheUltraElite]

Those among us who have been learning how the scams operate know that all scammers attempt to use the SEO of a new buzzword to generate their views because the more views you draw from the general public, the more chances that a less informed gullible newbie will fall for that trap. We are knowledgable about such scams and thus we try to advice newbies not to go for them but very few users actually pay heed.

Besides a lot of the victims who get scammed feel for their greed and they are the ones to blame for their own losses.

Gradually you will see that the previous buzzword-driven coins are going to a stagnancy while their investors go to the slow pain zone.

[Wexnident]

Naturally. With the recent boom of ChatGPT and other AI-related stuff, I don't doubt they already were making preparations for some random project that uses the tech-savvy term "AI" to bait some new investors out there. Even NFT's haven't stopped, so I reckon AI stuff would continue for a pretty sizeable amount of time. I honestly just avoid any investment that has buzzwords but no solid result. Even if I consider that they're just making me a sort of start-up investment, there's way too many projects like them that are pretty much empty words only after all.

[blockman]

You have to get used to the market because that's how the developers go. When they see the new trend, they comes up with a quick idea on what they should do. Like those hype days for the meme coins, as you've mentioned they'll make projects that has inu on its last name just as the shiba inu trend and the rest follows.
The same goes with ai, as we're about to enter the next bull cycle, they're going to be around us trying to enticed a lot of investors going with the projects that they've come up with.

[KingsDen]

There are over dozens of meme coins that are now almost dead or dead already because they are the most trending hype in last bull market.

Looking like you made a dozen to be in hundreds instead of 12. Apart from the cryptocurrency market, scammers always use what is trending to scam people.
When it was NFT, there was NFT scam;
When exchanges started newly it was the bases for scam;
Decentralized finance had scams;
Web3 and wev3.0 scammers are there;
AI and ChartGpt scammers are also there.

[Adbitco]

One thing I noticed about projects is that when they are over hyped It give space to such because technically, any projects that is over hyped often turns out to be scam. Although there are real AI projects but due to the cause of scammers people are now skeptical about put their resources especially me. I am hardly being moved with the AI hype and happenings, I would rather look down to those trusted and reliable projects. I don't think there's nothing scammers won't try to fake, during ico, crowdfunding, IEO, IDO and more, scammer used that medium to victimized those with little or no knowledge in the crypto race.

[bittraffic]

Weeks ago also the Fetch.ai (FET) moons way ahead of the rest of the altcoins which is most probably where they got the idea because of the ChatGPT. AIs are the most hyped these days and MS and yahoo had been reporting it every now and then since it's been throughout the articles that it will make them competitive again with google.

[JANUS23]

What do you expect in an unregulated market niche? I love decentralization but cryptocurrencies as a whole needs some sanitization

[isaac_clarke22]

~

I mean what will anyone expect anyway. It is not just that scammers are following these trends like you mentioned (AI and stuffs). There are also just carbon copy of these projects that people are seemingly try to milk out even if they are not intentionally scamming people. Kind of a lazy business.

NFTs arrived and there were low effort NFT images and even a dick picture that sold millions and millions. Like you said in the last sentence, it is all just money race. Outside crypto, there were unsolicited emails back then when people were communicating almost always via email, but now that we got Facebook and Twitter, shit just went through the roof all over the place.

[Xal0lex]

Obviously, the scheme of appearance of these projects is not new and has already been worked out by past hypes, such as DeFi or Metaverse. People are now often paying attention to the topic of AI, it is often talked about in the crypto community. Many tend to believe that there will be a big hype around these projects in the next bull run and the tokens of these projects will start to grow quickly. Developers see which way users are thinking and start creating tokens that touch on AI in one way or another, although these projects have little to do with the topic of AI and are only created to quickly enrich the creators of these tokens.

[goaldigger]

Scammers knows how to follow the trend because this is their golden opportunity to take advantage against the newbies and copy the top project to attract more investors, this is not new because on every trend they are there and now if AI will take another chance to hit the crypto market, probably scammers will be more active this time. I suggest to list all those AI project and analyze where to invest, don’t just get hyped do your part as well to analyze.

[Natalim]

Well, the truth is that - scammers will always find a way to trick people. They are getting smarter which could trick us if we are new here and most especially, you are a greedy person. Because even though how much we work on spreading scam awareness and their technique if we are also too blind not to see it due to attractive rewards, it still makes no sense. It is not a war between one person or two against these scammers but should also be a war for everyone who is here. We can't stop them if not all remain too naive not to see how scammers trick us.

[nara1892]

That has become something that is certain, because regardless of anything they always take action when there is hype which will definitely be very profitable for them. An example when Squid Games is very booming and we know what coins are used as a means of fraud for them. now is not much different because things like this are definitely done. Because of this they make it an opportunity by piggybacking big names so that the target believes.

[abel1337]

Most new projects listing on CMC are now having _____ AI name, for example AkitaAI, StableAI etc, there is nothing to be expected of these new projects, they are here to grab some attention that won't last and they will make tons of money doing so, it's always the money race.

The question is "why is CMC allowing those perceived scam projects to be put on its site?" While starting out in 2017, the CMC was always my point of reference for this industry. Any coin I didn't find there was classified as a scam coin. There were some purchases I made solely based on their listings on CMC and not because anyone hyped them. Now, seeing that many scam projects are getting there and site owner is not bothered but only concerned for monetary gain is not just heartbreaking but appalling. For me, I won't touch anything Al is in it with a pole. I bought into one Al token last year but it's value is almost at zero level now.

I think that there are some requirements before you can put your token on CMC and I believe that it is much harder than coingecko where most DeFi token is listed there. Coin market cap won't make their coin listing website a trash by asking money from other just to list them despite of a scetchy background. As far as I know tthere are certain requirements like daily trading volume, being listed on a public exchange as I've did a simple search in this forum. I don't know if it was updated or changed since it came from 2018. There are many scammers that are really smart and dedicated to scam you people that's why they are doing there best to pretend trusted and utilizing any trend that will encourage you to put your money into them.

It was listed on the FAQ:

What is the criteria for a cryptocurrency to be listed on CoinMarketCap?

The criteria for a cryptocurrency to be listed is the following:

- Must be a cryptocurrency or a crypto token.
- Must be on a public exchange with an API that reports the last traded price and the last 24 hour trading volume.
- Must have a non-zero trading volume on at least one supported exchange so a price can be determined.
- For market cap ranking, an accurate circulating supply figure is required.

If you'd like to have a cryptocurrency listed and it meets all of the criteria, please fill out the request form.

https://coinmarketcap.com/faq/

[TimeTeller]

Well, the truth is that - scammers will always find a way to trick people. They are getting smarter which could trick us if we are new here and most especially, you are a greedy person. Because even though how much we work on spreading scam awareness and their technique if we are also too blind not to see it due to attractive rewards, it still makes no sense. It is not a war between one person or two against these scammers but should also be a war for everyone who is here. We can't stop them if not all remain too naive not to see how scammers trick us.

Scammers will not stop anytime soon. As long as they can see opportunity, they will grab it.
It is now on the hands of the users how they will prevent getting screwed by these scammers.
If people will stop patronizing projects that are dubious, maybe scammers will lessen their numbers.
However, we can't deny the fact that a lot are still hoping that they will get rich on this market, thus, trying to jump on hyped projects.

[Quidat]

There are over dozens of meme coins that are now almost dead or dead already because they are the most trending hype in last bull market.

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish,  it seems the Doge and INU race is over, now it's A.I call for scammers.

Most new projects listing on CMC are now having _____ AI name, for example AkitaAI, StableAI etc, there is nothing to be expected of these new projects, they are here to grab some attention that won't last and they will make tons of money doing so, it's always the money race.

Not something new and its been  pretty common that these coins would be flooding out the market on the time on which trend that we are currently dealing with.Just like into those time where Defi
is on the main hype which it is really just that common to have those names and now that we are in AI then scammers would really take some advantage into this one since they do know that
most investors are really trying to look for something AI projects which could potentially make out some huge profits once it do gets pumped but be careful since most of them are just
money grabbers.When you do get that sufficient experience then pointing out these things are really that too obvious.