After discovering dozens of tokens claiming to be connected to ChatGPT, an AI-powered chatbot, blockchain security company PeckShield has issued a warning. In a post from February 20, the company disclosed that at least three "BingChatGPT" tokens seem to be a part of honeypot schemes, which use smart contracts to trick users into transferring Ether, which the attacker then traps and steals. According to PeckShield, in what is frequently referred to as a "pump and dump" scam or "rug pull," at least two of the identified tokens have already lost almost 100% of their worth, while a third is at a 65% decline. A pump-and-dump scheme typically entails the creators orchestrating a campaign of false advertising and hype to entice investors into buying tokens, then covertly offloading their investment in the scheme when values rise. A pump and dump plan was used to create "dozens of tokens," according to PeckShield, by at least one of the criminals behind the tokens, "Deployer 0xb583."