Warning: Potential Scam Involving AI Token Launched by Elon Musk Fan
Elon Musk is the world’s richest person and is well known for his many projects such as SpaceX, Tesla, and the Boring Company. In 2020, he began to publicly support Dogecoin as a payment cryptocurrency. Recently, he tweeted the word “BasedAI,” which led to the launch of a new AI concept-based token called $BasedAI on the Bep20 (BSC) network. Unfortunately, it appears that this token is likely a scam and people should exercise caution when investing in such projects.
Elon Musk is a well-known innovator, entrepreneur, and investor who is best known for his projects such as SpaceX, Tesla, and the Boring Company. In 2020, he began to publicly support Dogecoin as a payment cryptocurrency. On 28 February 2023, he tweeted the word “BasedAI,” which led to the launch of a new AI concept-based token called $BasedAI on the Bep20 (BSC) network. Unfortunately, it appears that this token is likely a scam and people should exercise caution when investing in such projects.
In response to Musk’s tweet, someone launched the $BasedAI token with a high liquidity and 24 hours volume, indicating that it was likely created by a single person. A crypto Twitter user confirmed that he purchased the token but failed to sell it, further suggesting that it is a scam. This is not the first time when someone has launched an AI token in response to Musk’s tweet. Earlier this year, a group of people created the TruthGPT token project with the intention of bringing a high-level, transparent, and decentralized AI ChatBot to support Musk’s initiative.
Overall, it is important to exercise caution when investing in any token, particularly those that are based on AI concepts. Although Elon Musk has publicly endorsed Dogecoin, he has not endorsed any particular token and it is likely that the $BasedAI token is a scam. People should remain away from this token investment and instead focus on investing in projects that have a proven track record of success.
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