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Crime and punishment 3.0 - Coggle Diagram
Crime and punishment 3.0
Overview of theme: AI is developing --> more crimes and risks are existing, like getting scammed.
- Cryptocurrencies and other decentralized money tools are invented, making hackers come up new ways of scamming people
Rug pull method: A scam where the creators of a project suddenly take all the invested money and disappear, leaving investors with worthless digital coins.
Example: The company Theranos claimed to invent an easier way to spot diseases by just a simgle drop of blood, making investors invest for them, then took all of the invested money and run away. Now the founder is in jail for scamming.
Pump and dump method: a scam where people artificially inflate the price of a coin by spreading false information. Once the price is high, they sell their coins, causing the price to crash and leaving other investors with losses.
Example: Last month, a group began selling coins based on the hit Netflix show, Squid Game. The $SQUID coin had no ties with the show or Netflix but that didn't stop many from jumping on the hype train causing the value from one penny to $2,800 and then free-fall back down to pennies minutes later. This resulted in the scammer making $2 million while those who purchased the coin lost money.
Ponzi scheme method: A scam where money from new investors is used to pay returns to earlier investors. It fails when there aren't enough new investors, causing everyone to lose their money.
Bernie Madoff: Perhaps the most infamous Ponzi scheme operator, Bernie Madoff ran a fraudulent investment operation that defrauded investors of an estimated $65 billion over several decades. He was arrested in 2008 and sentenced to 150 years in prison.
- Generating fake work by AI, like ChatGPT
With AI, generating fake term paper, or college essay, or World Scholar’s Cup outline is now easily done
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