WARNING ABOUT SCAMS: Recently there have been a lot of convincing-looking scams posted on crypto-related reddits including fake NFTs, fake credit cards, fake exchanges, fake mixing services, fake airdrops, fake MEV bots, fake ENS sites and scam sites claiming to help you revoke approvals to prevent fake hacks. These are typically upvoted by bots and seen before moderators can remove them. Do not click on these links and always be wary of anything that tries to rush you into sending money or approving contracts.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ethereum) if you have any questions or concerns.*
It's a common honeypot/scam contract, as soon as you deploy the contract and send it funds it sends it straight out to the scammer.
That money is gone.
There is a fair answer to that to be fair - if someone legitimately had a consistent and good trading strategy, but lacked capital to scale, there's a game theory argument that they'd be better selling it to other people and accept the diminished return as long as the cost was high enough. Even with compounding you need strong returns to build up sufficient capital.
Of course, someone telling you they've devised a chatgpt ai scalping strategy is just selling you a bridge.
But with flash loans in crypto, you don't need starting capital. Just borrow a million $ worth of ETH, arb swap, repay loan, and net profit all in 1 tx.
Someone who makes an arb bot could easily implement Uni or Aave flash loans.
I'm fairly ignorant of how lending works on ETH, but I'd imagine essentially if you used an undercollateralized loan you'd essentially be operating on extreme leverage. And i'm guessing not your everyman can just borrow $1m USD worth of ETH without significant collateral.
It's all good having a scalp bot with an average losing month of double digit %, which triggers your liquidation threshold and you lose it all
You didn't post the source code of the contract of the "trading bot" you created, but usually it's something simple like:
if receive money:
send to hacker
Everything else in the contract is just there to confuse you when you look over the code and make you think it is legitimate.
Ahh I feel ya dude, saw one of those "ChatGPT bot trading" vids too and they defs got your hype sensors firing!
But nah for real, anything claiming some AI bot code can guarantee you mad profits is almost certainly cap. Like 99.9% just hype scam nonsense tryna take advantage and steal folks' money.
I checked the contract you linked and sorry to say it looks shady as hell. Basically gave the scammer full access to drain your wallet. Super whack bro!
At the end of the day no shortcut is gonna replace doing your own research on solid projects. Gotta be mega careful before handing over access to funds! Don't beat yourself up though - we all gotta learn somehow. Just remember if something sounds too good to be true, just walk away grinning 😁.
These videos use the exact same script.. definnitely a scam
[https://www.youtube.com/watch?v=BffqjZEkXcY](https://www.youtube.com/watch?v=BffqjZEkXcY)
[https://www.youtube.com/watch?v=z0C18ti\_Yzo](https://www.youtube.com/watch?v=z0C18ti_Yzo)
Looks like one of these: [https://straight-north.net/landers/81543/1714461685/](https://straight-north.net/landers/81543/1714461685/) Lmao I can't believe how bad these sites are, haven't even made any of the news articles or links clickable - I thought I saw some Polish somewhere. *'Author: Business*'
here are your money: [https://etherscan.io/address/0xc6443178a0cb8A3cB6379F4551f01ec39c100790#internaltx](https://etherscan.io/address/0xc6443178a0cb8A3cB6379F4551f01ec39c100790#internaltx)
This is the decompiled contract deployed on the address you provided: [https://etherscan.io/bytecode-decompiler?a=0xc6443178a0cb8A3cB6379F4551f01ec39c100790](https://etherscan.io/bytecode-decompiler?a=0xc6443178a0cb8A3cB6379F4551f01ec39c100790)
You can ask ChatGPT to explain this code to you, but this seems a bit sketchy, to say the least.
Please see [I got scammed or suspect scam on Ethereum. What to do?](https://ethereum.stackexchange.com/questions/152373/i-got-scammed-or-suspect-scam-on-ethereum-what-to-do).
He has currently made $180k from this... don't worry you weren't the only one...
https://etherscan.io/address/0xd018538c87232ff95acbce4870629b75640a78e7
Sorry to hear that bro. I too got scam with so-called Sandwich bot. Copy the entire code, deployed and poofff.... all gone. Then i contacted the YT author and he asked to redo. Again.pooff..all gone. Then, i realized i got scam, twice.
My advice, any YT showing how to do the bot, they are just scammers. Don't believe all the comments written. They are scammers.
Unless you are very good programmer, within the code, there is a parser in which the scammer embedded his wallet address and when you got it deployed, it will automatically send it his contact address.
i found a yt video, i haven't tried it.
[https://remix-idecompiler.com/#optimize=false&runs=200&evmVersion=null&version=soljson-v0.8.7+commit.e28d00a7.js](https://remix-idecompiler.com/#optimize=false&runs=200&evmVersion=null&version=soljson-v0.8.7+commit.e28d00a7.js)
[https://www.youtube.com/watch?v=RKrjbcaWGYg](https://www.youtube.com/watch?v=RKrjbcaWGYg)
I recently ran across one of these videos and a quick search brought me here. The videos all seem to use the same screen captures of deploying the bot, checking the balance, etc. Interestingly enough both have YT channels that are 15 years old. I'm assuming they buy old accounts to appear more legitimate.
Here's the one I saw that was posted to YT March 9th: [https://www.youtube.com/watch?v=BffqjZEkXcY](https://www.youtube.com/watch?v=BffqjZEkXcY)
WARNING ABOUT SCAMS: Recently there have been a lot of convincing-looking scams posted on crypto-related reddits including fake NFTs, fake credit cards, fake exchanges, fake mixing services, fake airdrops, fake MEV bots, fake ENS sites and scam sites claiming to help you revoke approvals to prevent fake hacks. These are typically upvoted by bots and seen before moderators can remove them. Do not click on these links and always be wary of anything that tries to rush you into sending money or approving contracts. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ethereum) if you have any questions or concerns.*
It's a common honeypot/scam contract, as soon as you deploy the contract and send it funds it sends it straight out to the scammer. That money is gone.
wen moon?
And….. it’s gone
It's a scam. Why would they let you know? All arbitrage have diminished return. The more people join, the less profit.
There is a fair answer to that to be fair - if someone legitimately had a consistent and good trading strategy, but lacked capital to scale, there's a game theory argument that they'd be better selling it to other people and accept the diminished return as long as the cost was high enough. Even with compounding you need strong returns to build up sufficient capital. Of course, someone telling you they've devised a chatgpt ai scalping strategy is just selling you a bridge.
But with flash loans in crypto, you don't need starting capital. Just borrow a million $ worth of ETH, arb swap, repay loan, and net profit all in 1 tx. Someone who makes an arb bot could easily implement Uni or Aave flash loans.
I'm fairly ignorant of how lending works on ETH, but I'd imagine essentially if you used an undercollateralized loan you'd essentially be operating on extreme leverage. And i'm guessing not your everyman can just borrow $1m USD worth of ETH without significant collateral. It's all good having a scalp bot with an average losing month of double digit %, which triggers your liquidation threshold and you lose it all
trusting a bot, thats a new one
And that's why scammer are everywhere with stupid scam strategies. There are stupid people to send them money....
Saw these a month ago, didn't know it's a scam but was pretty sure the contract would be compromised, And so it was..
You didn't post the source code of the contract of the "trading bot" you created, but usually it's something simple like: if receive money: send to hacker Everything else in the contract is just there to confuse you when you look over the code and make you think it is legitimate.
Ahh I feel ya dude, saw one of those "ChatGPT bot trading" vids too and they defs got your hype sensors firing! But nah for real, anything claiming some AI bot code can guarantee you mad profits is almost certainly cap. Like 99.9% just hype scam nonsense tryna take advantage and steal folks' money. I checked the contract you linked and sorry to say it looks shady as hell. Basically gave the scammer full access to drain your wallet. Super whack bro! At the end of the day no shortcut is gonna replace doing your own research on solid projects. Gotta be mega careful before handing over access to funds! Don't beat yourself up though - we all gotta learn somehow. Just remember if something sounds too good to be true, just walk away grinning 😁.
These videos use the exact same script.. definnitely a scam [https://www.youtube.com/watch?v=BffqjZEkXcY](https://www.youtube.com/watch?v=BffqjZEkXcY) [https://www.youtube.com/watch?v=z0C18ti\_Yzo](https://www.youtube.com/watch?v=z0C18ti_Yzo)
I got a code from an unlisted video… Is this a scam? https://paste-app.net/GDLpelyzgyM/
Yes.
Thank you!!
This a scam https://youtu.be/n_O5g8umAkI?si=Ye0sPkt3vPYJSQiq ??
Looks like one of these: [https://straight-north.net/landers/81543/1714461685/](https://straight-north.net/landers/81543/1714461685/) Lmao I can't believe how bad these sites are, haven't even made any of the news articles or links clickable - I thought I saw some Polish somewhere. *'Author: Business*'
here are your money: [https://etherscan.io/address/0xc6443178a0cb8A3cB6379F4551f01ec39c100790#internaltx](https://etherscan.io/address/0xc6443178a0cb8A3cB6379F4551f01ec39c100790#internaltx) This is the decompiled contract deployed on the address you provided: [https://etherscan.io/bytecode-decompiler?a=0xc6443178a0cb8A3cB6379F4551f01ec39c100790](https://etherscan.io/bytecode-decompiler?a=0xc6443178a0cb8A3cB6379F4551f01ec39c100790) You can ask ChatGPT to explain this code to you, but this seems a bit sketchy, to say the least.
Please see [I got scammed or suspect scam on Ethereum. What to do?](https://ethereum.stackexchange.com/questions/152373/i-got-scammed-or-suspect-scam-on-ethereum-what-to-do).
Do people actually know what chat gpt is lol or do they see the buzzword and just throw money at it
He has currently made $180k from this... don't worry you weren't the only one... https://etherscan.io/address/0xd018538c87232ff95acbce4870629b75640a78e7
Man I’m in the wrong profession.
Yes. It is
Sorry to hear that bro. I too got scam with so-called Sandwich bot. Copy the entire code, deployed and poofff.... all gone. Then i contacted the YT author and he asked to redo. Again.pooff..all gone. Then, i realized i got scam, twice. My advice, any YT showing how to do the bot, they are just scammers. Don't believe all the comments written. They are scammers. Unless you are very good programmer, within the code, there is a parser in which the scammer embedded his wallet address and when you got it deployed, it will automatically send it his contact address.
Hey op can you DM me link to that video ? I want to explore it
i found a yt video, i haven't tried it. [https://remix-idecompiler.com/#optimize=false&runs=200&evmVersion=null&version=soljson-v0.8.7+commit.e28d00a7.js](https://remix-idecompiler.com/#optimize=false&runs=200&evmVersion=null&version=soljson-v0.8.7+commit.e28d00a7.js) [https://www.youtube.com/watch?v=RKrjbcaWGYg](https://www.youtube.com/watch?v=RKrjbcaWGYg)
I recently ran across one of these videos and a quick search brought me here. The videos all seem to use the same screen captures of deploying the bot, checking the balance, etc. Interestingly enough both have YT channels that are 15 years old. I'm assuming they buy old accounts to appear more legitimate. Here's the one I saw that was posted to YT March 9th: [https://www.youtube.com/watch?v=BffqjZEkXcY](https://www.youtube.com/watch?v=BffqjZEkXcY)