US authorities: The number of scam projects pretending to be neural networks is growing

The US Commodity Futures Trading Commission (CFTC) announced that the number of fraudulent projects pretending to be neural networks and somehow using artificial intelligence is increasing in the financial market.. Including those who steal cryptocurrency.

CFTC warns: the topic is now relevant, and the creators of scam projects feel it. Clients are offered significant profits from trading bots or AI-based arbitrage.

As an example of such a scam project, the department cited the case against Mirror Trading International Proprietary from South Africa.. The company's executives promised investors profits provided by AI-based algorithms. Damage from the fraudulent scheme amounted to 30,000 Bitcoins. A lawsuit has been filed against the company and the case is in court.

The US agency recommends that investors carefully check the history of companies and information about management before investing their funds.

Previously, the CFTC filed a lawsuit in the District Court of Arizona against the Debiex platform, accusing the creators of misappropriating $2.3 million worth of cryptocurrency.