Latest Update: Signs Point to a Scam

As of June 1st, multiple sources indicate that BlockGPT, which once promised a revolution in AI chat and blockchain integration, may be embroiled in a scam. Despite several attempts to reach the project’s team, clarity remains elusive. Until we confirm its legitimacy, the original report will remain intact. Stay tuned for updates!

What is BlockGPT Anyway?

BlockGPT made headlines with its announcement on May 11 regarding a ‘chat to earn’ service. This AI-driven chatbot was purportedly designed to work similarly to OpenAI’s ChatGPT, promising users an engaging experience complete with a token-governed ecosystem.

Token Offerings to Sweeten the Deal

In line with modern crypto projects, BlockGPT introduced two types of tokens: a governance token (BGPT) and a meme token (AIBGPT). Built on PancakeSwap, these tokens aim to enhance the decentralization element of the BlockGPT experience. And what do you get when you chat with this fancy bot? Nonfungible tokens (NFTs) and actual token prizes, of course!

The Technical Bit: How Does It Work?

According to the white paper, BlockGPT employs more than six GPT models trained on a proprietary dataset. Although it boldly claims to engage with a hefty load of blockchain-related materials, the specifics on model size and training parameters are playing hide and seek.

Claims of Intelligence—But Where’s the Proof?

BlockGPT asserts its capability in blockchain education, claiming, “BlockGPT was trained using a vast dataset of Blockchain-related information, resources, and research papers.” However, without transparency, it’s hard not to question the heft of these claims.

Rug Pulls and Honeypots: A Cautionary Tale

Now, for the lemon in the lemonade. Recent observations and analysis by experts seem to confirm fears that BlockGPT could be connected to a classic “rug pull” scheme. Reports indicate that approximately 816 BNB (around $256,000) was transferred into Tornado Cash—a shady practice notorious for hiding illicit funds.

Expert Warnings

Several security monitors, including CertiK, PeckShield, and ChainAegis, echoed similar alarms regarding the suspicious activities surrounding BlockGPT. Just like your paranoid friend at a party, they recommend caution when engaging with this project.

In Summary

With the flurry of excitement in the AI and token market, it’s essential to navigate with skepticism. While the promise of a beneficial “chat to earn” model is alluring, red flags are waving high around BlockGPT. Hold onto your wallets, folks; the Blockchain world can sometimes feel like an amusement park ride with a few unexpected drops!