The decentralized platform, Harvest Keeper, which claimed to use artificial intelligence technology based on ChatGPT to optimize trading and generate profits, has left its users in dismay.
The developers behind the project promised an impressive return of 101% in just 21 days, but suddenly disappeared with approximately $1 million worth of user assets.
This has been reported as a classic “exit scam,” where the developers made off with the money they had collected from gullible investors.
According to CertiK, an additional $219,000 of user assets were lost as a result of an ice phishing attack on the Ethereum, Binance Smart Chain, and Polygon networks.
This cyber attack exploited the full access to the client’s wallet that the Harvest Keeper smart contracts required, enabling the developers to withdraw even more funds from their victims’ wallets.
The exact number of developers involved in this fraudulent scheme is not yet known, but the project had a substantial following on both Twitter and Telegram.
The FBI has reported that the number of cryptocurrency fraud cases in 2022 has increased by 183% compared to the previous year, with a total of $2.57 billion lost. In 2021, the volume of cryptocurrency fraud cases was $907 million.
Investors must exercise caution and conduct proper research before investing in any platform, particularly those that make unrealistic promises or request full access to their wallets.
Such incidents highlight the importance of being vigilant and cautious in the ever-evolving world of cryptocurrency investments.