USAregulators of the three states in connected to artificial intelligencetargeting a ponzi scheme filed its first securities lawsuit.
of the USA Texas, MontanaAnd Alabamain the states regulators jointly filed the first AI securities lawsuit. At the center of the case, YieldTrustAI’ s highlights using artificial intelligence to trade digital assets. Three regulators are trying to stop the project using artificial intelligence from demanding decentralized investments. initiated legal proceedings.
Artificial Intelligence Themed Securities Litigation
YieldTrustAI claimed that its artificial intelligence algorithm processed 70 times more trades with 25 times higher profits than any human trader. Platform, percent per day Offered 2.6 earnings yield . US regulators, He suggested that these promised AI returns are a ponzi scheme.
This artificial intelligence project and ponzi scheme claims, which are the subject of the lawsuit, also revealed the first securities lawsuit on artificial intelligence.
Texas State Securities Boardexecutive division manager Joe Rotundasaid the following on the subject;
“We realize that bad actors in the market will always follow the headlines. Artificial intelligence has become a very fashionable topic. There has been a tremendous increase in questionable investment offers linked to AI.”
rotunda , stated that this lawsuit deals with the allegation of artificial intelligence fraud. Moreover rotunda, YieldTrustHe acted as a potential investor while researching the project, spent hours watching promotional videos of the project and TelegramHe stated that he was watching his channel.
Thinking that such practices are a complete trap, the Texas executive stated that a brand new threat has emerged for the public. Also, the subject of the case YieldTrust’s website is also down.
