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In the world of cryptocurrency, where new coins and tokens are launched every day, it is essential to be vigilant and cautious 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 blockchain technology. However, upon further investigation, it seems that CryptoGPT is an outright scam. In this article, we will delve into the details and discuss the red flags associated with this scam.
Jamila Jelani’s Misleading Role & Dubious Claims by Dejan Erja
One of the significant red flags that have surfaced is the role of Jamila Jelani, who was initially listed as the CEO/founder of CryptoGPT. However, her title on the site changed to a marketer, and now she has been removed from the site entirely. Jelani claimed to have led growth campaigns at Alibaba, but there is no evidence to verify this claim. Her LinkedIn profile was only created last month, raising suspicions about her credibility.
Another person associated with CryptoGPT is Dejan Erja, who claimed to have worked at Ripple Net. However, there is no information available to verify his connection with Ripple, and he has only five mutual connections on LinkedIn. Erja has never posted anything on LinkedIn, adding to the doubts about his authenticity.
DWF: The Lead Investor and Key Market Maker
Another suspicious aspect of CryptoGPT is its lead investor and key 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 NFTs to store data. However, chatter in group chats isn’t positive about DWF. The fact that DWF is both the lead investor and key market maker raises questions about its integrity.
CryptoGPT’s other token, DXP, is also dubious. It is a “point” that will eventually be turned into tokens. This is not how cryptocurrencies work, and it indicates that CryptoGPT’s creators are trying to deceive investors. The company is also offering 30-day fully refundable NFTs, which is illegal as per the regulations set by financial authorities.
CryptoGPT’s ecosystem lead, Art, has zero online presence, indicating that he is a fake persona created to deceive investors. He is using the YouTube influencer playbook, which is an unethical way of marketing a project.
The Use of OpenAI’s API
Another alarming aspect of CryptoGPT is the use of OpenAI’s API, which is a sophisticated artificial intelligence platform. CryptoGPT’s chatbot ‘Alex’ has confirmed that the company is using OpenAI’s API. However, the use of OpenAI’s API does not make CryptoGPT a legitimate platform.
Conclusion
In conclusion, CryptoGPT is an outright scam, and investors should stay away from it. There are several red flags associated with the project, including misleading information about its key personnel, dubious claims about its lead investor and market maker, point 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 cautious and diligent before investing your hard-earned money in any cryptocurrency project, and CryptoGPT is no exception.
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