Fake ChatGPT NFTs being promoted on Twitter

Fake ChatGPT NFTs being promoted on Twitter

A week ago, an odd Twitter account began aggressively advertising a dubious NFT offer. The account goes by the moniker “ChatGPT,” which is the same name as the well-known OpenAI chatbot that initiated the “AI craze” in December 2022.

Scam alert

According to the Twitter account, the NFTs being offered are being touted as the “first living AI-powered non-fungible tokens.” Supposedly, these NFTs are supported by “Optimus ChatGPT” technology and have the ability to interact with humans.

Furthermore, they have the capability to perform tasks on behalf of their owners. To mint these tokens, users need to have an account on OpenSea. After minting, owners are advised to check their OpenSea wallet to activate their Optimus and can communicate with their NFTs to direct them to perform specific tasks.

Nevertheless, this campaign raises several alarming red flags. Firstly, OpenAI, the only company affiliated with ChatGPT, has not released any tokens, whether they be fungible or non-fungible. Secondly, the sole website for “Optimus ChatGPT” was generated only two days ago and contains only a “mint” button.

Additionally, the Twitter account is being promoted by a multitude of assertive bots that share their excitement through comments and replies. The account owner releases notifications for new mints every four hours, with each NFT priced between 0.1 and 0.3 Ethers (ETH).

This scam is particularly concerning due to the Twitter account’s legitimate background. Prior to February 2023, the account had never posted anything in English during its three-year lifespan, which began in Q3 of 2020.

Additionally, the account is followed by IEO dashboard Trustpad, which could mislead inexperienced investors. It’s important to note that ChatGPT is not capable of minting NFTs on its own. While it can provide a code sample for an ERC 721 or ERC 1155 contract, the contract must then be deployed to Ethereum (ETH) using development tools like Remix or Truffle.

The NFTs generated by ChatGPT using AI technology will have the same appearance as the conventional NFT templates that are already accessible in the OpenZeppelin codebase. Therefore, they won’t be able to imitate human interaction or perform tasks for their owners. In fact, it’s possible to obtain a sample of an NFT contract for free using OpenZeppelin and Remix or with ChatGPT, which means that there’s no reason to pay for the creation of “AI-backed” tokens.

Fraud gaining traction

The fraudulent Twitter account amassed more than 13,000 followers before it was taken down by Twitter. Reports suggest that the individuals behind the scam had established a bogus website that resembled the genuine OpenAI website, with the aim of deceiving unwary investors. The site was designed to coax people into providing their private keys or seed phrases.

Following the emergence of the fake account, OpenAI issued a statement urging the public to be cautious and alert to avoid falling victim to such fraudulent schemes. They stressed that they are not affiliated with this campaign in any way.

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