Beware of Fraudulent 'GROK Tokens' Amidst the Hype Around the Conversational AI 'Grok'

In the wake of the highly-anticipated AI model 'Grok' by Elon Musk's xAI, the crypto world is now flooded with numerous 'GROK Tokens.'

Learn the crucial details and protective measures against these impostors masquerading in the shadow of innovation, and why it's essential to stay alert in the dynamic world of cryptocurrency.

Warning: 'GROK Token' Scams Riding on the Coattails of the Latest AI Sensation

Following the announcement of the conversational AI model 'Grok' by Elon Musk’s AI company 'xAI' on November 4, 2023, numerous tokens named 'GROK' have been issued in the cryptocurrency industry, capitalizing on the hype.

What is Grok?

Grok is a conversational AI model developed by Elon Musk's 'xAI', announced on November 4, 2023. It is designed to answer almost any question and suggest queries to users.

The AI model is reportedly inspired by Douglas Adams' sci-fi novel "The Hitchhiker's Guide to the Galaxy" and is capable of responding to provocative questions most AI systems would reject.

It is also designed to handle witty inquiries and is said to have a rebellious streak, with Musk advising those who dislike humor to refrain from using it.

Currently, Grok is set to be initially available as a beta version exclusively for US residents who are subscribers of 'X Premium+', a paid service by X (formerly Twitter), with a waiting list open at the time of this article.

Multiple Blockchain Platforms See the Emergence of 'GROK Tokens'

Since its announcement, Grok has been drawing global attention as a 'new rival to ChatGPT'. However, the cryptocurrency industry is now flooded with virtual currencies named 'GROK Tokens', unrelated to the AI model.

According to DEXTools data, hundreds of GROK Tokens have been issued across multiple blockchains as of the time this article was written.

Ethereum’s blockchain is the primary platform for these GROK Token issuances, but they can also be found on 'BNB Chain, Base, and Solana' among others.

Elon Musk States: 'No Tokens Will Be Issued'

Some individuals who purchased GROK Tokens immediately after their release reportedly made significant profits due to price surges.

However, these tokens are simply exploiting the 'GROK' name and are "in no way related to xAI," which calls for vigilance.

Musk has categorically stated in a post dated November 4, 2023, that "my company will never issue a cryptocurrency or token."

In the cryptocurrency industry, 'trend-based speculative tokens' often emerge and can plummet in value when the hype dies down or the issuer sells a large number of tokens once a sufficient number of buyers is reached.

A similar pattern is expected with these GROK Tokens.

The proliferation of tokens named 'GROK' is likely to continue, potentially leading to 'malicious scam sites' and 'cryptocurrency theft scams'. It is crucial to be cautious of such fraudulent tokens.