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CBEX crypto scam: AI-hyped Ponzi scheme defrauds African investors

Hacker News - AI
Jul 20, 2025 15:33
PaulHoule
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Summary

A recent investigation revealed that CBEX, a cryptocurrency platform, used exaggerated claims about AI technology to operate a Ponzi scheme that defrauded thousands of African investors. The case highlights how AI hype can be exploited to build trust and lure victims, underscoring the need for greater scrutiny and regulation in AI-related financial products.

Article URL: https://techxplore.com/news/2025-07-cbex-crypto-scam-ai-hyped.html Comments URL: https://news.ycombinator.com/item?id=44626169 Points: 1 # Comments: 0
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