Humanized AI Crypto Project Exit Scam: What Happened and How Investors Lost $665K
Thursday, 7 March 2024, 14:30
AI Crypto Scam Project Vanished
Humanized AI (HMZ), an AI crypto project that aimed to improve AI's understanding of human perception, abruptly vanished, leaving investors empty-handed.
Cyvers Flags Fraudulent Scheme
Cyvers, a Web3 security platform, identified Humanized AI as a deceptive project as its website and social media accounts disappeared following a successful fundraising campaign.
- The project collected 173 ETH, equivalent to $665,000, from investors before transferring the funds to a crypto exchange and shutting down its operations.
- Investors were enticed with HMZ AI crypto tokens in exchange for contributing to data processing efforts which turned out to be a scam.
This incident serves as a reminder to the crypto community about the risks involved in investing in unverified ventures.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.