Cybercriminals are now using the popular name "ChatGPT" to rebrand their fraudulent schemes, particularly in the context of arbitrage MEV bot scams in the cryptocurrency space. These scammers claim that their bots, supposedly generated by ChatGPT, can help users profit from arbitrage opportunities on the Ethereum blockchain. However, the mention of AI is merely a marketing tactic, and the tutorial videos promoting these bots have numerous red flags. To participate, victims are instructed to deploy a smart contract using a provided code and deposit Ethereum into the contract. However, the funds are immediately transferred to the scammer's wallet, leaving victims with no chance of recovery. Multiple scammer addresses have gathered significant amounts of ETH from numerous victims, making legal action difficult. It is important for users to be vigilant, carefully review code before deploying smart contracts, and avoid unfamiliar links related to AI-branded tools in the cryptocurrency space.



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