CFTC urges investors to be wary of AI-created crypto asset arbitrage algorithms
According to the US Commodity Futures Trading Commission (CFTC), investors are warned to be cautious of software or algorithms created by AI that claim to generate a 100% "winning" rate. The CFTC has identified encrypted asset trading schemes, trading signal strategies, or automated trading algorithms created by some artificial intelligence as tools used by fraudsters to target investors. In a statement released through the CFTC's Office of Customer Education and Outreach (OCEO), the committee also expressed concern about the increasing number of criminals using AI to hype up theft from users. The statement said that fraudsters spread false information through social media platforms and so-called influencers, further exacerbating the problem. Unlike traditional media or advertising companies, influencers and social media platforms are not bound by conventional marketing or advertising rules. Nevertheless, the statement listed some steps that investors should always take before investing their money.
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