• bitcoinBitcoin (BTC) $ 64,347.00
  • ethereumEthereum (ETH) $ 3,087.30
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 561.06
  • solanaSolana (SOL) $ 145.17
  • usd-coinUSDC (USDC) $ 0.999869
  • staked-etherLido Staked Ether (STETH) $ 3,084.50
  • xrpXRP (XRP) $ 0.506272
  • dogecoinDogecoin (DOGE) $ 0.153581
  • the-open-networkToncoin (TON) $ 6.17
  • cardanoCardano (ADA) $ 0.471593
  • shiba-inuShiba Inu (SHIB) $ 0.000023
  • avalanche-2Avalanche (AVAX) $ 35.22
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 64,363.00
  • tronTRON (TRX) $ 0.110389
  • bitcoin-cashBitcoin Cash (BCH) $ 480.13
  • polkadotPolkadot (DOT) $ 6.78
  • chainlinkChainlink (LINK) $ 13.93
  • internet-computerInternet Computer (ICP) $ 13.86
  • matic-networkPolygon (MATIC) $ 0.674467
  • litecoinLitecoin (LTC) $ 81.23
  • nearNEAR Protocol (NEAR) $ 5.60
  • uniswapUniswap (UNI) $ 7.56
  • leo-tokenLEO Token (LEO) $ 5.81
  • daiDai (DAI) $ 1.00
  • aptosAptos (APT) $ 9.60
  • ethereum-classicEthereum Classic (ETC) $ 26.25
  • mantleMantle (MNT) $ 1.14
  • blockstackStacks (STX) $ 2.50
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999578
  • filecoinFilecoin (FIL) $ 6.21
  • crypto-com-chainCronos (CRO) $ 0.125906
  • okbOKB (OKB) $ 55.76
  • stellarStellar (XLM) $ 0.112020
  • cosmosCosmos Hub (ATOM) $ 8.27
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,115.37
  • render-tokenRender (RNDR) $ 8.03
  • dogwifcoindogwifhat (WIF) $ 3.04
  • immutable-xImmutable (IMX) $ 2.08
  • bittensorBittensor (TAO) $ 458.58
  • arbitrumArbitrum (ARB) $ 1.14
  • vechainVeChain (VET) $ 0.040813
  • hedera-hashgraphHedera (HBAR) $ 0.082510
  • makerMaker (MKR) $ 2,982.72
  • kaspaKaspa (KAS) $ 0.114988
  • injective-protocolInjective (INJ) $ 28.01
  • the-graphThe Graph (GRT) $ 0.261774
  • optimismOptimism (OP) $ 2.28
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • wrapped-eethWrapped eETH (WEETH) $ 3,194.75
  • fetch-aiFetch.ai (FET) $ 2.15
  • moneroMonero (XMR) $ 121.13
  • pepePepe (PEPE) $ 0.000005
  • theta-tokenTheta Network (THETA) $ 2.08
  • fantomFantom (FTM) $ 0.703850
  • celestiaCelestia (TIA) $ 10.92
  • thorchainTHORChain (RUNE) $ 5.47
  • arweaveArweave (AR) $ 27.89
  • lido-daoLido DAO (LDO) $ 2.01
  • suiSui (SUI) $ 1.38
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,405.94
  • bitget-tokenBitget Token (BGB) $ 1.24
  • coredaoorgCore (CORE) $ 1.94
  • galaGALA (GALA) $ 0.044977
  • sei-networkSei (SEI) $ 0.562530
  • quant-networkQuant (QNT) $ 106.48
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,157.41
  • beam-2Beam (BEAM) $ 0.027431
  • jupiter-exchange-solanaJupiter (JUP) $ 1.08
  • algorandAlgorand (ALGO) $ 0.177239
  • ethenaEthena (ENA) $ 1.01
  • whitebitWhiteBIT Coin (WBT) $ 9.66
  • flokiFLOKI (FLOKI) $ 0.000141
  • flowFlow (FLOW) $ 0.891437
  • bitcoin-svBitcoin SV (BSV) $ 66.10
  • neoNEO (NEO) $ 18.28
  • aaveAave (AAVE) $ 86.75
  • flare-networksFlare (FLR) $ 0.032062
  • bittorrentBitTorrent (BTT) $ 0.000001
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,051.00
  • dydx-chaindYdX (DYDX) $ 2.31
  • tokenize-xchangeTokenize Xchange (TKX) $ 14.12
  • singularitynetSingularityNET (AGIX) $ 0.877809
  • elrond-erd-2MultiversX (EGLD) $ 41.39
  • ondo-financeOndo (ONDO) $ 0.767434
  • wormholeWormhole (W) $ 0.598978
  • ecasheCash (XEC) $ 0.000051
  • the-sandboxThe Sandbox (SAND) $ 0.448334
  • roninRonin (RON) $ 3.21
  • zebec-protocolZebec Protocol (ZBC) $ 0.019802
  • axie-infinityAxie Infinity (AXS) $ 7.03
  • bonkBonk (BONK) $ 0.000015
  • havvenSynthetix Network (SNX) $ 2.99
  • chilizChiliz (CHZ) $ 0.109758
  • tezosTezos (XTZ) $ 0.993293
  • worldcoin-wldWorldcoin (WLD) $ 5.06
  • ribbon-financeRibbon Finance (RBN) $ 0.994904
  • ordinalsORDI (ORDI) $ 45.73
  • conflux-tokenConflux (CFX) $ 0.235835
  • akash-networkAkash Network (AKT) $ 4.02
  • pyth-networkPyth Network (PYTH) $ 0.614392
  • gatechain-tokenGate (GT) $ 6.82
  • gnosisGnosis (GNO) $ 349.94
  • cheeleeCheelee (CHEEL) $ 15.93
  • jasmycoinJasmyCoin (JASMY) $ 0.018683
  • eosEOS (EOS) $ 0.787294
  • starknetStarknet (STRK) $ 1.24
  • msolMarinade staked SOL (MSOL) $ 171.80
  • nervos-networkNervos Network (CKB) $ 0.019941
  • mina-protocolMina Protocol (MINA) $ 0.804980
  • kucoin-sharesKuCoin (KCS) $ 8.85
  • decentralandDecentraland (MANA) $ 0.438240
  • apecoinApeCoin (APE) $ 1.24
  • axelarAxelar (AXL) $ 1.20
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,112.10
  • dexeDeXe (DEXE) $ 13.02
  • iotaIOTA (IOTA) $ 0.229698
  • kavaKava (KAVA) $ 0.678283
  • echelon-primeEchelon Prime (PRIME) $ 19.44
  • dydxdYdX (ETHDYDX) $ 2.31
  • usddUSDD (USDD) $ 0.979271
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.82
  • aerodrome-financeAerodrome Finance (AERO) $ 1.69
  • nexoNEXO (NEXO) $ 1.22
  • frax-etherFrax Ether (FRXETH) $ 3,074.41
  • klay-tokenKlaytn (KLAY) $ 0.187869
  • oasis-networkOasis Network (ROSE) $ 0.100709
  • dymensionDymension (DYM) $ 4.09
  • aioz-networkAIOZ Network (AIOZ) $ 0.619406
  • lido-staked-solLido Staked SOL (STSOL) $ 171.63
  • heliumHelium (HNT) $ 3.95
  • fraxFrax (FRAX) $ 0.998929
  • swethSwell Ethereum (SWETH) $ 3,237.15
  • bitcoin-goldBitcoin Gold (BTG) $ 35.62
  • corgiaiCorgiAI (CORGIAI) $ 0.001796
  • osmosisOsmosis (OSMO) $ 0.938463
  • illuviumIlluvium (ILV) $ 96.21
  • blurBlur (BLUR) $ 0.395140
  • mantra-daoMANTRA (OM) $ 0.739772
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000102
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000028
  • astarAstar (ASTR) $ 0.104996
  • tether-goldTether Gold (XAUT) $ 2,393.75
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,283.51
  • book-of-memeBOOK OF MEME (BOME) $ 0.010269
  • pendlePendle (PENDLE) $ 5.83
  • theta-fuelTheta Fuel (TFUEL) $ 0.086709
  • radixRadix (XRD) $ 0.053380
  • woo-networkWOO (WOO) $ 0.298370
  • fasttokenFasttoken (FTN) $ 1.78
  • xdce-crowd-saleXDC Network (XDC) $ 0.039492
  • ocean-protocolOcean Protocol (OCEAN) $ 0.883954
  • based-brettBrett (BRETT) $ 0.062462
  • mx-tokenMX (MX) $ 5.38
  • wemix-tokenWEMIX (WEMIX) $ 1.47
  • curve-dao-tokenCurve DAO (CRV) $ 0.438324
  • iotexIoTeX (IOTX) $ 0.055079
  • true-usdTrueUSD (TUSD) $ 1.00
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,340.17
  • altlayerAltLayer (ALT) $ 0.397222
  • jeo-bodenJeo Boden (BODEN) $ 0.712878
  • skaleSKALE (SKL) $ 0.094260
  • 1inch1inch (1INCH) $ 0.421041
  • enjincoinEnjin Coin (ENJ) $ 0.337380
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.005404
  • polymeshPolymesh (POLYX) $ 0.459516
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.13
  • ankrAnkr Network (ANKR) $ 0.046882
  • superfarmSuperVerse (SUPER) $ 1.04
  • stepnGMT (GMT) $ 0.239365
  • zilliqaZilliqa (ZIL) $ 0.025259
  • manta-networkManta Network (MANTA) $ 1.83
  • apenftAPENFT (NFT) $ 0.00000046
  • 0x0x Protocol (ZRX) $ 0.532668
  • pups-ordinalsPUPS (Ordinals) (PUPS) $ 56.77
  • pax-goldPAX Gold (PAXG) $ 2,408.22
  • rocket-poolRocket Pool (RPL) $ 21.75
  • ethereum-name-serviceEthereum Name Service (ENS) $ 14.06
  • memecoin-2Memecoin (MEME) $ 0.026373
  • jito-governance-tokenJito (JTO) $ 3.67
  • celoCelo (CELO) $ 0.807043
  • ethereum-pow-iouEthereumPoW (ETHW) $ 3.98
  • ravencoinRavencoin (RVN) $ 0.031199
  • qtumQtum (QTUM) $ 4.07
  • terra-luna-2Terra (LUNA) $ 0.614732
  • ether-fiEther.fi (ETHFI) $ 3.66
  • degen-baseDegen (Base) (DEGEN) $ 0.033825
  • livepeerLivepeer (LPT) $ 13.17
  • raydiumRaydium (RAY) $ 1.59
  • holotokenHolo (HOT) $ 0.002342
  • compound-wrapped-btccWBTC (CWBTC) $ 1,292.14
  • amp-tokenAmp (AMP) $ 0.007345
  • aelfaelf (ELF) $ 0.566126
  • siacoinSiacoin (SC) $ 0.007050
  • frax-shareFrax Share (FXS) $ 5.05
  • project-galaxyGalxe (GAL) $ 3.77
  • saga-2Saga (SAGA) $ 4.29
  • biconomyBiconomy (BICO) $ 0.517235
  • safepalSafePal (SFP) $ 0.835350
  • compound-governance-tokenCompound (COMP) $ 55.42

State regulators crack down on fraudulent cryptos promoted as ‘Elon Musk AI Tokens’ and ‘TruthGPT Coin’

0 150

State regulators crack down on fraudulent cryptos promoted as 'Elon Musk AI Tokens' and 'TruthGPT Coin'

The Texas State Securities Board, including several state regulators, have come together to issue cease-and-desist orders against Horatiu Charlie Caragaceanu and his organizations, The Shark of Wall Street and Hedge4.ai, for promoting two cryptocurrencies named TruthGPT Coin and Elon Musk AI Token. The orders seek to clamp down on what they claim is a fraudulent securities scheme attempting to capitalize on the growing buzz around artificial intelligence (AI).

The TruthGPT Coin is being marketed as a cryptocurrency that utilizes an AI system called Elon Musk AI. The AI model can allegedly examine multiple digital assets, anticipate future cryptocurrency values, and distinguish lucrative investments from fraudulent ones. The parties involved are also promoting TruthGPT Coin as a highly profitable venture, even stating it could increase in worth by a staggering 10,000 times.

The Emergency Cease and Desist Order states that investors are being falsely informed of Elon Musk’s endorsement of TruthGPT Coin, and animated avatars and images of Musk are being utilized to give the impression of his support. Promotional media also shows the alleged involvement of other public figures, including Changpeng “CZ” Zhao, the founder and CEO of Binance, and Vitalik Buterin, the co-founder of Ethereum.

Securities Commissioner Travis J. Iles cautioned, Bad actors continue their attempts to capitalize on this widespread public interest. He explained:

They’re devising schemes that create the appearance that they have developed sophisticated artificial intelligence platforms – but instead of being rooted in artificial intelligence, the offerings too often are nothing more than frauds.”

Texas State Securities Board enforcement director Joe Rotunda advised investors to stay vigilant and “to set aside emotion and objectively evaluate every offering – especially when pitched by an unknown person through the internet.”

The fraudulent scheme highlights the continuous need for caution and due diligence in the cryptocurrency industry. Using buzzwords like artificial intelligence can be enticing for investors, but as seen in this case, it can also be used by bad actors to promote fraudulent activities, including pump-and-dump schemes, which is common within the crypto industry.

According to data gathered by Chainalysis, “of the 40,521 tokens launched in 2022 that gained sufficient traction to be worth analyzing, 9,902, or 24%, saw a price decline in the first week indicative of possible pump and dump activity.”

Source

Leave A Reply

Your email address will not be published.