Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»CFTC warns of AI scams that promise huge profits using cryptocurrency arbitrage algorithms.
ADOPTION NEWS

CFTC warns of AI scams that promise huge profits using cryptocurrency arbitrage algorithms.

By Crypto FlexsJanuary 27, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
CFTC warns of AI scams that promise huge profits using cryptocurrency arbitrage algorithms.
Share
Facebook Twitter LinkedIn Pinterest Email

Posted 1 minute ago In ~

The Commodity Futures Trading Commission issued a consumer warning Thursday about scams using artificial intelligence, some of which use cryptocurrency arbitrage algorithms to promise huge profits.



“With the increasing use of AI in our daily lives, fraudsters are claiming that they can use bots, trading signal algorithms, cryptocurrency asset arbitrage algorithms, and other AI-enabled technologies to generate massive profits,” the agency said in a statement. . , adding that social media influencers can spread false promises of quick profits.

The agency said, “Don’t trust scammers. AI technology cannot predict the future or rapid market changes.”

Billions of Dollars Worth of Bitcoin Lost

The CFTC said it had uncovered several fraud schemes involving references to AI. One of them resulted in the loss of 30,000 Bitcoins, worth about $1.7 billion at the time.

“Unfortunately, AI has become yet another means for malicious actors to defraud unsuspecting investors,” Melanie Devoe, head of the CFTC’s Office of Customer Education and Support, said in a statement.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Anna is a senior policy reporter at The Block. She has a background in political journalism and has covered Russian civil society for various media outlets in Moscow, including her award-winning newspaper, Novaya Gazeta. Before joining The Block, Anna spent the past five years researching global cryptocurrency policy and adoption at CoinDesk. Anna says she owns Bitcoin and gift NFTs that have sentimental value.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025
Most Popular

Top Trader Says Dogecoin Is ‘Turbo Bullish’, Predicts Solana-Based Memecoin’s Future Rally

September 30, 2024

The cryptocurrency trading platform set various records during the banner close of February.

March 1, 2024

According to analysts, crypto whales have swallowed $76 million worth of Ethereum-based altcoins in just one week.

July 10, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.