Ethereum Foundation drops Ether prices and beware of the new AI airdrop scam

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Last Updated on 6 November 2023 by CryptoTips.eu

Ether has been dropping noticeably in recent days, and the strange thing is that this is due to an action by the Ethereum Foundation itself, a group that is normally very positive towards Ether. What is happening?

At the same time, a new type of crypto scam that uses an AI bot and the popularity of an airdrop has caused a stir in Great Britain.

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Ethereum Foundation

The price of Ether has fallen by almost 5% in the last few days and the major digital coin is now trading at around $1,560. The strange thing is that the sale of Ether by the Ethereum Foundation seems to be the cause of this price drop.

The Ethereum Foundation is a group that helped found Ether itself and helps develop applications on the blockchain. It currently holds some $1.29 billion in Ether and so this sale of about $2.7 million is negligible. However, investors mainly saw it as a sign that the group behind Ether does not believe in the currency in the short term and this should explain the sudden drop.

AI trading

A new type of crypto scam that takes advantage of the popularity of AI (artificial intelligence) and airdrops has caused a British banker to lose 400,000 Euros of his own money. The story went viral via the British version of the Guardian.

The man, who testified anonymously, has reported the new scam to several authorities, including the FBI in the US and the National Crime Agency in the UK. He has also taken his case to the UK Financial Ombudsman Service.

Matthew Thomas (a pseudonym) was contacted via social media by a ‘friend’ who told him about an AI bot that traded crypto.

Airdrop

Of course, everything went well at first. The ‘bot’ seemed to act on his behalf and he made a nice return. He was able to neatly transfer the profit to his bank account.

But after about a month, the program asked to increase the minimum deposit to $10,000. Here too he made a profit, about 1% per day.

Another month later, he was informed that he had been chosen for an exclusive airdrop of a new currency and could participate if he increased his account to $100,000. He also did this, but after that he could no longer get access to his money. The company’s customer service told him that the AI ​​bot had opted for the airdrop and immediately afterwards invested all its money in other currencies. Ultimately, Matthew, who works as a director at a bank, lost around half a million euros in just a few months.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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