Markets News Report
March 07, 2024

Scam Alert: Humanized_AI Sells $665,000 Worth of Ethereum and Shuts Website

In Brief

Humanized_AI was flagged as a scam project after selling $665,000 worth of Ethereum and shutting down its website and X account.

AI Project Humanized_AI Sold $665,000 Worth of Ethereum, Flagged as Potentially Fraudulent

Humanized_AI (HMZ), the project purportedly aiming to “enhance AI technology to help it understand and replicate human-like perceptions,” has been flagged as a potentially fraudulent initiative. Presently, the project’s social media account and website are inactive, having been shut down.

According to the Web3 security platform Cyvers Alerts, the project raised funding, accumulating 173 ETH, equivalent to $665,000, over a one-month sales period. Following the fundraising, the collected amount was subsequently deposited into the automated cryptocurrency exchange eXch.

The native token of Humanized_AI, HMZ, was distributed on decentralized finance (DeFi) platforms and subsequently transferred to the address 0xef46843A7E115C8A9a85EcfC3328eFDFAD1BCc99.

Humanized AI presented itself as a project with the goal of bridging the gap between AI and humans by integrating crowdsourced human input into data processing. The project suggested a “quantify-to-earn” mechanism, providing users with HMZ tokens as a reward for contributing their input and fostering user participation and engagement. During its operational phase, Humanized AI provided users with the opportunity to participate in the HMZ token presale.

Crypto Investment Risks Intensify

Attracting attention from individuals exploring the cryptocurrency space, numerous projects emerge showcasing a unique approach. The interest is further fueled by an ongoing bullish trend reflected in the continual ascend of Bitcoin (BTC) and Ethereum (ETH), prompting some to make investment decisions carelessly. 

Recently, another incident highlighted this trend, with a project purporting to be a platform for gambling and exchange raising 420 ETH, equivalent to $1.3 million, from investors in a seed round and abruptly disappeared afterwards, subsequently scrapping all social media accounts. RiskOnBlast, formerly part of the Blast’s ecosystem, has been identified for misappropriating funds from over 750 wallets.

Amid potential fraud concerns, Humanized_AI’s inactive status raises questions about the integrity of the project, emphasizing the need for thorough examination and vigilance in the face of increasing investment interest.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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