This ChatGPT Crypto Scam Is Flooding YouTube With Actors Who Don’t Know What They’re Reading

Have you seen YouTube recent ads for the “slippage bot” it uses ChatGPT promise to help you earn free money with crypto? It’s a scam. And it rips a lot of people, always using actors unexpectedly hired on Fiverr who do not understand what they hired to read. One of the actors told Gizmodo that he was never paid for his work, even though his face regularly appears on YouTube under accounts he does not control.

All videos follow the same script. He opens with an actor that he created a bot using ChatGPT that allows anyone to earn money without any real coding knowledge. At the beginning of the video, the actors warn that the crypto community has many fraudsters, so it is important for the viewer not to connect with “unknown wallets” and “unknown exchanges.”

After receiving an alarming warning of scammers, the script goes into place where you can copy the code that can be placed on the website that has to do what is called the front of the crypto transaction. You need to link your crypto wallet, of course, for everything to work. The basic concept, also known as a sandwich attack, is a real thing done by unscrupulous crypto traders to get money. But that’s not what will happen if you try to use the code in the video.

If you only look at the code, there is nothing suspicious about it, except for the promise of free money. But that’s because the real address of the wallet is hidden in the process of splitting it into pieces. Anyone who connects their Metamask wallet and runs the code simply sends their crypto to one of the many wallets run by anonymous fraudsters.

All videos follow the same script with minor changes and the real difference between most videos is the amount of content you have to produce and the quality of it. Sometimes titles and thumbnails are promising $2,000 per day or $3,000 per day, while others list the amount in ethereum or percentages. But anyone who follows the instructions in this video will make exactly zero dollars, and instead send their crypto to scammers.

Gizmodo has yet to find evidence that anyone appearing in the videos knew they were participating in the scam. In fact, three of the people we interviewed were all hired on Fiverr for video and audio work. And it’s obvious why these scam artists hire real actors. By putting a few hundred dollars into a gig site like Fiverr, (one player told us he had $500), these scammers get real people to be the face of their scam without revealing their identity while making real money. .

As you can see from the short videos we have created below, the text being read is the same for hundreds of videos on YouTube.

Cheating videos on YouTube with unimaginable actors

These videos have been bothering some of the players involved as there seems to be an army of new YouTube accounts posting these videos every day. Actors have no control over how these videos are used, and even after they are removed, they always reappear on other accounts.

“I’ve been contacted by cyber security experts, OSINT enthusiasts, […] one of the victims, AND several people in my personal relationships who received the video,” one of the actors, Scott Panfil, told Gizmodo via email on Sunday.

Panfil, a 41-year-old music teacher in New York, said four “true friends” have reached out to him since watching videos on their YouTube commercials. They contact YouTube every time they get a new video to be removed but it’s a whack-a-mole game.

Panfil reached out to Fiverr to inquire about the account he had hired and was told it had been terminated. But it is said that Fiverr insisted that it would not do anything more than that. A Fiverr spokesperson told Gizmodo in an email on Tuesday that the company has suspended the accounts it notified and will issue compensation to Panfil after he was not paid.

“Trying to defraud or defraud others is a violation of our laws and is prohibited. It is against our Community Standards to allow anyone to use services offered through Fiverr to promote intentionally false or fraudulent information, or that may pose a financial risk to users,” Fiverr said.

Most of the fake videos are not mentioned, meaning they don’t appear in regular YouTube and Google search results. But they often appear as paid ads, as you can see below in a screenshot Gizmodo took on March 23. The video on the right with Panfil is “sponsored,” showing below the title being promoted through YouTube’s advertising program.

A snapshot: YouTube

Anyone who clicks to see who is thought to be the creator other videos we will look at only five or six that were recently created. Those videos are very descriptive technical topics like NFTs and smart contracts, making it look like the guy who created this YouTube site knows what he’s talking about when it comes to crypto.

But the person shown on each YouTube account has no control over what is shown, as you can see in Panfil’s user account below. These people have only been hired for one video on Fiverr and their videos are being used over and over again.

Image titled ChatGPT Crypto Scam Floods YouTube With Players Who Don't Know What They're Reading

A snapshot: YouTube

Most of the subjects who act like smokers are not explained at all. They are boring and not just like paid ads that don’t even show up in basic YouTube searches. Again, we must emphasize that the people who appeared in these ads may not be aware that they are promoting fraud. And their videos are being used everywhere multiple accounts.

Another thing that is common in all these YouTube videos is that the comments are very good, clearly because of the bot network that is trying to rent a scam.

Image titled ChatGPT Crypto Scam Floods YouTube With Players Who Don't Know What They're Reading

A snapshot: YouTube

Ironically, Gizmodo first learned about this scam about a month ago while combing through consumer complaints filed with the FTC that mention ChatGPT. We received complaints through the Freedom of Information Act, and one complaint, filed on Dec. 27, 2023, it caught our attention:

I found a video from YouTube “etsy web3 dev,” a YouTuber titled “I used the ChatGPT arbitrage Trading Bot to make $1,248 a day – ridiculous amount of money.”

I followed the instructions to deposit 0.5 Ethereum from my Metamask crypto wallet to the Etherscan contract that I was instructed to create. I made a contract and then used the recorder in ChatGPT to make a profit from my 0.5 ETH that I sent from my Metamask account. Nothing was found in my bag and the YouTuber did not respond to my message. I tried again with 0.65 ETH the next day, but still nothing was shown in my contract. I suspect a YouTuber to take my Ethereum channel through crooked instructions to steal my now $2,500 worth of money.

The complainant’s name has been redacted by the FTC, which is the case when the agency releases documents through FOIA, so we were unable to reach the individual directly. But having a fake video title led us down a rabbit hole where we found hundreds of other videos with similar titles, all promising easy money. They were all using the same script and read by real people.

Since we started looking at these scams, YouTube videos have gone viral, as have other social media sites report see them often these days. YouTube spokesman Javier Hernandez says the platform has “strong policies in place to protect the YouTube community” and six channels have been terminated due to spam and other scams.

“We are in the process of reviewing the reported ads and will take action against those who violate our policies. marketing strategies,” Hernandez said via email.

Many movies have real actors, but there are some where we never see a person appearing on the screen. And while almost all of the videos we found featuring this trick featured male actors, there were some that were featured female voice actors but they usually have a screenplay a real woman in the video, besides some pictures.

How much money are these distributors making? That part is hard to know for sure, but Gizmodo posted one message that said he lost 1 ETH, which is about $3,300 at the current price. Based on various speculative reports crypto forums The money drawn by these weather forecasters is running into the hundreds of thousands and more.

There are a few video explainers who are trying to warn people about scams. But they don’t have much interest. This movie, for example, has only 75,000 views at the time of this writing even though it’s been around for almost a year. The sad thing is, some videos that claim to be against fraud are just trying to push it their kind of hypocrisy by deleting some videos and claiming it they having a real bot that can make this kind of money.

Needless to say, you should be wary of anyone who promises an easy way to make money. And if you’re a gamer looking to do some work through Fiverr, make sure you understand what you’re reading. Because even if you get paid, you could face big disappointments down the line if it turns out to be a scam.

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