Changpeng “CZ” Zhao, the CEO of Binance exchange, has stepped forward to protest a project that is purportedly using him as a hashtag in its advertisements. CZ mentioned in a previous reply to an X user that he had first encountered AlphaGPT in a spam remark on the website a day earlier.
The CEO of Binance remarked that there have been several bots spamming through numerous accounts with ties to the exchange company, giving the impression that Binance and his account are frequently spammed.
According to the AlphaGPT platform, it is the biggest intelligent quantification business in the world. The protocol may seem fresh, but degens have adopted it widely as evidenced by the fact that it has a community of more than 73K followers on X. However, the spam links reveal a different worldview about AlphaGPT since they demonstrate the desperation that might undermine the majority of its marketing initiatives.
According to what it offers, AlphaGPT might not necessarily be a fraud, but what it is affiliated with might be brand imitation. This tag is widespread in the larger Web3.0 ecosystem, as several new protocols are breaking into the market and tenaciously vying for visibility on all fronts.
Fraud proliferation in Web3
To raise awareness and assist protect users, industry leaders are ramping up their efforts to expose dishonest players in the ecosystem. Several projects have reported assaults on their profiles over the past few years, and two well-known figures, notably XRP holders’ attorney John Deaton, have also been subjected to such attacks.
In the near future, scams might not disappear from the crypto ecosystem, but public awareness and education, like the condemnation by CZ, might help to significantly reduce the impact on everyone.
