The recently launched AI trading app called Harvest Keeper saw almost $1 million of users’ funds drained through a series of ice phishing and function attacks on its blockchain.
The AI-based dApp that promised high returns for investors turned out to be a scam, according to multiple crypto security firms, including CertiK.
Bad actors and Ice Phishing
A privileged getAmount function was used to drain the Harvest Keeper contract and transfer over $700,000 in USDT to an unknown address, according to CertiK.
Meanwhile, a smaller amount was stolen through ice phishing transactions across BSC, Ethereum, and Polygon, resulting in approximately $219,000 in losses. Ice phishing is a type of web3 attack that deceives users into manually granting permissions by signing and approving requests.
The recent events have left users in a state of distress, and many are expressing their frustration within the crypto community. Some have even resorted to reaching out to Binance CEO Changpeng Zhao for assistance.
What is Harvest Keeper AI?
Founded earlier this year, Harvest Keeper was billed as allowing you to maximize on cryptocurrency trades through AI algorithms. According to Markus Peters, founder of Harvest Keeper:
“[Harvest Keeper’s] decentralized protocol interacts with a trading bot, using built-in artificial intelligence to analyze patterns like risk, news sources and many other factors that effect the price formation of various crypto assets.”
The AI dApp marketed itself as “an innovative project based on artificial intelligence, which completely eliminates the human factor from trading, creating an opportunity to generate profits 24 hours a day.” According to the project’s claims, users could receive daily rewards of 4.81% and see their investment grow to 101% within three weeks.
Certik is advising people to stay away from all links relating to the project.
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