In the world of cryptocurrency, where new coins and tokens are launched every day, it is essential to be vigilant and careful before investing your money in any new project. Recently, a new token called CryptoGPT has been making waves in the market, claiming to be an AI-based platform that uses block chain technology. However, upon further investigation, it appears that CryptoGPT is an outright scam. In this article, we will dive into the details and discuss the red flags associated with this scam.
Misleading role and dubious claims of Jamila Jelani by Dejan Erja
One of the significant red flags that has surfaced is the role of Jamila Jelani, originally listed as CEO/Founder of CryptoGPT. However, her title on the site has been changed to a marketer and she has now been removed from the site entirely. Jelani claimed to have led growth campaigns at Alibaba, but there is no evidence to verify this claim. His LinkedIn profile was only created last month, raising suspicions about his credibility.
Another person associated with CryptoGPT is Dejan Erja, who claims to have worked at Ripple Net. However, no information is available to verify its link with Ripple, and he only has five mutual connections on LinkedIn. Erja has never posted anything on LinkedIn, adding to doubts about her authenticity.
DWF: lead investor and lead market maker
Another suspicious aspect of CryptoGPT is its main investor and market maker, DWF. The company claims to have two million users, a $250 million valuation and a slew of buzzwords, including an AI assistant, ZK rollup layer 2 blockchain, data-to-AI engine and NFT to store data. However, chatter in group chats is not positive for DWF. The fact that DWF is both the main investor and the main market maker raises questions about its integrity.
CryptoGPT’s other token, DXP, is also dodgy. It is a “point” that will eventually be transformed into tokens. This is not how cryptocurrencies work, and it indicates that the creators of CryptoGPT are trying to trick investors. The company also offers 30-day fully redeemable NFTs, which is illegal according to regulations set by financial authorities.
CryptoGPT ecosystem the lead, Art, has no online presence, indicating that he is a fake persona created to mislead investors. It uses the YouTube influencer playbook, which is an unethical way to market a project.
Using the OpenAI API
Another alarming aspect of CryptoGPT is the use of OpenAI’s API, which is a sophisticated artificial intelligence platform. CryptoGPT’s “Alex” chatbot has confirmed that the company uses OpenAI’s API. However, using OpenAI’s API does not make CryptoGPT a legitimate platform.
In conclusion, CryptoGPT is a scam outright, and investors should stay away. Several red flags are associated with the project, including misleading information about its key personnel, dubious claims about its main investor and market maker, one-time tokens, illegal practices, and fake personas. The fact that the company claims to have two million users and a $250 million valuation in just a few months is absurd and indicates that the creators are trying to pump and dump the token. It is essential to be careful and diligent before investing your hard-earned money in a cryptocurrency project, and CryptoGPT is no exception.