Have you come across YouTube advertisements lately promoting a “slippage bot” claiming to utilize ChatGPT and offering the allure of generating passive income through cryptocurrency? Beware, it’s a deceptive scheme preying on numerous individuals, utilizing unwitting actors hired from platforms like Fiverr who are unaware of the fraudulent nature of the content they’re paid to endorse. One of these actors revealed to Gizmodo that despite appearing in multiple YouTube ads, he wasn’t compensated for his involvement, and worse, his likeness is being exploited without his control.
These ads typically follow a familiar pattern: an actor introduces themselves as the creator of a bot powered by ChatGPT, supposedly enabling anyone to profit from cryptocurrency without the need for coding skills. Initially, they caution viewers about the prevalence of scams in the crypto community, emphasizing the importance of avoiding unfamiliar wallets and exchanges.
However, the narrative swiftly transitions to the main pitch, urging viewers to copy and paste code into a website to execute a front run on crypto transactions, a tactic known as a sandwich attack. While this tactic exists among unethical traders, executing the code as instructed in the videos won’t yield the promised profits. Instead, it leads unsuspecting users to unknowingly transfer their crypto to wallets controlled by anonymous scammers.
Despite minor variations in the videos, such as differing promises of daily earnings, the fundamental scam remains consistent. The script is meticulously crafted to entice viewers with promises of easy wealth, but in reality, it’s a ploy to siphon cryptocurrency into the scammers’ pockets.
Unfortunately, many of the actors involved in these videos are oblivious to the fraudulent nature of the content they’re endorsing. Most are hired through platforms like Fiverr, providing scammers with a convenient facade of legitimacy while shielding their own identities. This tactic allows scammers to perpetuate the scam across numerous YouTube channels, frustrating efforts to remove the content.
The situation poses significant challenges for the unwitting actors involved. Despite their efforts to report and remove the videos, they continue to proliferate across new accounts, exacerbating the issue. One such actor, Scott Panfil, a music teacher from New York, has faced numerous challenges due to the widespread dissemination of these videos, even affecting his personal relationships.
Attempts to address the issue with Fiverr have yielded limited success, with the platform terminating the responsible accounts but offering little recourse for affected actors. Fiverr has pledged to compensate Panfil for his unpaid work and has taken steps to block similar fraudulent accounts in the future.
In summary, these deceptive YouTube ads promoting ChatGPT-powered slippage bots represent a troubling trend of cryptocurrency scams, exploiting both unsuspecting viewers and unwitting actors. Vigilance and caution are crucial in navigating the treacherous landscape of online investments and opportunities.
