224 Victims Lose 274.6ETH in Fake AI Trading Bot Scam

Over 224 users who followed a fake YouTube tutorial claiming to teach how to deploy an AI-powered cryptocurrency trading bot lost 274.6 ETH, valued at approximately $517,205 based on the exchange rate at the time of transfer. TRM Labs reported that the stolen funds flowed through 234 user-deployed smart contracts into six operator collection addresses.

The fraudulent videos promoted an automated crypto arbitrage bot created using Anthropic's Claude AI tool. TRM Labs analyzed nine videos observed between February and August, noting they appeared to be made by different creators but shared similar production styles. The scam involved directing users to copy code, deploy smart contracts, and deposit funds.