Elon Musk’s AI chatbot, Grok, has unintentionally become the center of a crypto controversy, promoting what could be a scam token.
The development comes amid rising concerns of fraudulent crypto, questioning the integrity of token launchpads such as Solana-based Pump.fun, among others.
Crypto Scam Alert: Did Grok AI Accidentally Pump a Token?
Grok, afterbeing prompted by a user’s leading question, initially suggested “GrokCoin” as the name of a meme coin. It then provided a wallet address for the said GrokCoin in response to a now deleted post. Grok also clarified that GROKCOIN is a meme coin on the Solana blockchain, inspired by xAI’s Grok AI.
“GROKCOIN, mentioned in the post, is a memecoin on the Solana blockchain, with the wallet address 3MadWqcN9cSrULn8ikDnan9mF3znoQmBPXtVy6BfSTDB. It’s inspired by xAI’s Grok AI, launched in November 2023, and trades with a current market cap of around $17 million, per CoinMarketCap, but its value is highly volatile.” Grok indicated.
Shortly after, the token’s market capitalization surged to $12 million, with an astonishing $51.9 million trading volume. At press time, the GrokCoin had a market cap of over $25 million. Meanwhile, data on GMGN shows the token’s value soared nearly 100,000%. This surge came as unsuspecting investors bought into what is likely an orchestrated scheme.
“Grok casually dropping a meme coin name, and the market instantly throws millions at it, peak crypto behavior. AI narratives + meme coins are a different kind of money printer no doubt about that,” one user quipped.
Despite this, skepticism remains high. It appears that an individual intentionally created the token before prompting Grok to mention the coin and wallet address publicly. This assumption comes as the question leading to Grok’s response was quickly deleted, suggesting a deliberate effort to manipulate the market.
It is also worth noting that the creator of GrokCoin has created over 470 coins, according to data from Soul Scanner
The incident highlights how scammers exploit AI tools to create and promote fraudulent tokens. It raises serious concerns about the growing trend of AI-driven crypto scams and market manipulation.
Following the latest development, similar Grok-themed tokens are flooding the Solana-based platform Pump.fun. This further adds to market manipulation concerns and potential investor losses.
Regulators are taking notice of these deceptive practices. A new bill proposed in New York aims to impose strict penalties on crypto scammers. As BeInCrypto reported, the bill defines civil fines of up to $5 million for fraudulent activities.
Such measures highlight the growing urgency to combat illicit schemes and protect investors from falling victim to AI-driven fraud.
Believe (LAUNCHCOIN) is up 15% in the last 24 hours, extending its impressive run after soaring more than 17,000% over the past month. The rally comes despite broader signs of cooling momentum on the Believe platform, which has seen a sharp drop in token launches and user activity.
LAUNCHCOIN’s EMA lines now point to consolidation, signaling a pause as traders assess the next move. With key support and resistance levels in play, LAUNCHCOIN’s performance may serve as a critical indicator of whether Believe can reclaim relevance in the competitive Solana launchpad space.
Token Launchpad Race: Believe Surges, Then Slows
Believe App experienced a major spike in activity between May 13 and May 15, with over 4,000 tokens launched daily through its social-media-driven platform.
This rapid growth briefly made Believe one of the most active token launchpads in the Solana ecosystem, highlighting its viral appeal and ease of use.
However, that momentum has tapered off significantly—new token launches dropped to just 268 by May 25 following the platform’s decision to suspend launches via Twitter and pivot toward an API-based model.
Daily Tokens Launched per Launchpad. Source: Dune.
The drop-off suggests that much of the platform’s initial traction may have been fueled by short-term hype rather than sustained user engagement.
Meanwhile, Pump.fun remains the clear market leader, consistently supporting between 20,000 and 30,000 token launches per day—an order of magnitude higher than its closest challengers.
Daily Active Addresses per Launchpad. Source: Dune.
Even as Believe peaked at 134,000 daily active addresses on May 15, Pump.fun held strong with 136,519 active users as recently as May 25, indicating deeper and more durable user involvement. The contrast between the two platforms reflects the challenge of turning viral momentum into long-term traction.
Without continuous user stickiness or unique utility, Believe may struggle to maintain relevance in a space dominated by Pump.fun’s scale and consistency.
Believe Tokens Lose Steam as Competitors Take the Lead
Believe-launched tokens are losing momentum, with few gaining notable traction in recent days. Over the last 24 hours, 4 of the top 5 performing tokens across major Solana launchpads came from Pump.fun, while the fifth came from LetsBonk.
This shift shows a clear reversal in platform dominance compared to earlier weeks, when Believe tokens regularly topped performance charts.
Top Tokens In Last 24 Hours and Last 7 Days. Source: Dune.
The decline in breakout tokens from Believe suggests that the platform’s initial surge may have been driven more by speculative buzz than lasting product-market fit.
A few weeks ago, Believe dominated launchpad success metrics, but the absence of top tokens recently may reflect waning user interest or a drop in token quality.
As other platforms like Pump.fun and LetsBonk continue to produce high-performing tokens, Believe risks fading from relevance unless it can re-engage its user base or differentiate its offering.
Webus International, a Nasdaq-listed Chinese AI solutions company, announced today that it’s planning to invest up to $300 million in an XRP reserve. The firm claims that this strategy is primarily aimed at facilitating cross-border payments.
Additionally, Webus aims to use XRP to help expand an AI-native company’s other blockchain-related development ambitions. Depending on the investment’s success, the firm may incorporate on-chain solutions in several fields.
Webus is not the only Chinese company considering a massive crypto investment this month, but its XRP reserve plan seems more deliberate.
Two weeks ago, Addentax Group, a logistics firm, considered investing $800 million in BTC and TRUMP. This may have been an attempt to secure tariff relief, and Addentax barely mentioned its crypto ambitions.
On the other hand, Webus described a long-term vision for the XRP reserve in explicit detail:
“These strategic developments have the potential to create a powerful synergy between our domestic and international operations. The integration of an XRP blockchain integration has the potential to revolutionize how we handle cross-border payments for both partners and travelers worldwide,” claimed Nan Zheng, CEO of Webus.
In other words, Webus’ AI solutions cater to customers around the globe, and DeFi may help smooth over recurring problems. Chinese firms can experience difficulties with bank processing across borders, but XRP may provide a solution.
Webus mentions using the tokens for lending, shareholder guarantees, third-party credit, and other core financial interactions.
Furthermore, a $300 million investment could help an AI-specific firm access the other advantages of Web3. In addition to improving cross-chain payment operations, XRP integration will help develop the company’s blockchain infrastructure.
XRP Reserve Asset
Webus International Limited (NASDAQ: WETO), a recognized provider of AI-driven mobility solutions specializing in premium, customizable chauffeur services for travelers worldwide, today announced two complementary strategic developments that significantly… https://t.co/xTlYUiWWxNpic.twitter.com/kpmAHEmIsJ
— Chad Steingraber (@ChadSteingraber) May 29, 2025
Webus’ press release mentions a few concrete goals like on-chain record keeping, loyalty tokens, and customer wallets.
Meanwhile, the company’s stock price has surged over 60% in after-market prices since the announcement.
XRP is already a leading cryptoasset, but $300 million is a substantial amount of money by any metric. If Webus helps integrate the token into the Chinese AI ecosystem, it could prove highly beneficial for XRP and the company.
Depending on the success of this reserve strategy, Webus could be setting a new trend for crypto’s worldwide integration.
Choosing the right crypto exchange for trading today means more than just access — it’s about getting an edge. Traders want platforms that work harder for their capital: zero fees, tight spreads, real rewards, and fast execution. Flipster offers these features along with the option to trade and earn passive income simultaneously.
With USDT earning yield even while used for trading, Flipster helps users get more from every move. Add to that zero trading fees, competitive spreads, and access to over 360 trading pairs have made Flipster one of the fastest-growing platforms in the world.
In the past year alone, Flipster’s trading volume increased by 856% while total user assets grew by over 6,000%.
What is Flipster?
Flipster is a global crypto trading platform with millions of users in nearly 200 countries. Flipster combines zero-cost execution, tight spreads, and the ability to earn passive income while trading—giving users more ways to stay active, efficient, and in control.
Available on both desktop and mobile (iOS and Android), Flipster offers spot trading, perpetual futures, earn opportunities, social trading, and more— all of which will be explored in more detail below.
Platform Security
Before diving into the platform’s trading features, it’s important to consider Flipster’s security standards — which are set at a relatively high level. Key highlights include:
1:1 Backed Reserves Ratio: Flipster maintains full transparency regarding its exchange reserves. Users can verify this information through the regularly updated Proof of Reserves report.
ISO Certification: Flipster has successfully achieved ISO/IEC 27001 certification — the world’s most recognized standard for information security management, adding another layer of credibility to the platform.
Cold Storage Custody via Fireblocks: The exchange utilizes Fireblocks, a leading digital asset custody solution, to ensure secure cold storage of user funds.
User account security
Users can enhance the security of their accounts by enabling Advanced Login Protection, which includes options like Google Authenticator (2FA), SMS verification, email confirmation, or passkey-based login (including biometric authentication).
Core Features of Flipster
As Flipster primarily focuses on trading, let’s highlight its key strengths:
No Trading fees – Flipster is one of the few exchanges that charges zero trading fees on both spot and futures trading.
Trade and Earn Simultaneously – USDT funds can be used as margin for trading while simultaneously earning rewards with a competitive APR. Flipster is the only platform offering this across all assets, maximizing performance without sacrificing flexibility.
Spot Trading
Flipster provides zero-fee spot trading, allowing users to buy and sell crypto as frequently as they want without incurring any maker or taker fees. Currently, six trading pairs are available: BTC/USDT, ETH/USDT, XRP/USDT, SOL/USDT, TRX/USDT, and TON/USDT.
The spot trading experience on Flipster is built around a simple, user-friendly interface, with a trading terminal that includes all the essential tools that create a seamless trading environment:
Market orders – Buying or selling crypto instantly at the best available market price.
Trigger orders – Specific price points can be set at which assets are automatically bought or sold.
Recurring buy orders – Crypto purchases can be scheduled at regular intervals to support automated, long-term investment strategies.
Perpetual Futures Trading
Flipster offers zero-fee perpetual futures trading and particularly stands out for being among the first to list trending altcoins, allowing users to start trading earlier than the broader market. Currently, there are over 360 trading pairs available, with new ones added regularly.
The platform supports leverage of up to 100x, enabling traders to engage in both medium-term strategies and also in short-term, intraday trading based on small price movements. It also provides all essential order types and supports both isolated and cross margin modes, giving users more control over their risk management.
Instant Flip
The Instant Flip feature allows traders to manage their positions more efficiently. With a single click, users can instantly reverse the direction of their open position (for example, from a long to a short) without manually closing and reopening a new trade with the same parameters.
Profit Boost
Flipster includes a unique feature called Profit Boost, allowing traders to temporarily amplify the profits of their open positions on perpetual futures. This option is currently available for BTC, ETH, SOL, and XRP pairs.
When activated, Profit Boost doubles the profit and loss (PnL) of the selected position for a limited time. Activation requires a premium fee, and importantly, if the PnL turns negative during the boost period, the loss remains unaffected — only the profits are multiplied.
Social Trading
Flipster also features a Social Trading section, where users can share and view each other’s trading performance and activity, with options to set notifications and subscribe to specific traders. This provides traders with a broader set of tools for market analysis, as users can also leave comments and share their positions directly within the trading platform.
Rewards Hub and User Bonuses
In addition to its advanced trading features, Flipster offers a wide range of products designed to engage users through marketing campaigns, bonuses, and passive income tools. The Rewards Hub section includes a welcome bonus of up to 150 USDT for new users who register and complete simple tasks. It also features ongoing community events where users can earn additional rewards directly from Flipster.
Flipster Earn Campaign
The Flipster Earn Campaign allows users to deposit USDT, ETH, or BTC and earn passive income with no lock-up period, offering the flexibility of instant withdrawals.
Initial annual yields include:
8% APR on USDT
5% APR on BTC and ETH
Additionally, users can boost their earnings up to 21% APR on USDT by reaching a trading volume of over 250,000 USDT within 15 days on Flipster. If users become a Flipster VIP, they can earn an additional 1% APR, bringing it to 22% APR.
As a bonus, Flipster’s limited-time APR Supercharge campaign, running from June 1 to 14, 2025, offers up to 122% APR on eligible USDT deposits, with stacked yields, zero trading fees, and full liquidity tailored for both active traders and yield-focused users.
Referral Bonuses
A referral system is provided by Flipster, allowing bonuses to be earned when new users join through a referral link. The following rewards can be received:
Deposit Bonus – Up to 4% of the invited user’s deposit may be awarded (3% for regular users, 4% for VIP users).
Trading Fee Bonus – An additional 0.002% of the referred user’s trading volume is credited.
VIP Program
Access to exclusive privileges is available through the VIP Program once one of the following criteria is met:
A trading volume of 3M USDT or more over any 5-day period
An average platform balance of 50,000 USDT, calculated over 24 hours
The following benefits are included in the VIP Program:
2,000 USDT daily prize pool is distributed based on USDT balance and trading volume
Trading rebates of 0.001% are calculated from weekly trading activity
Conversion USDT bonus to USDT at 1:1 ratio
Additional 1% APR is applied to participation in the Earn campaign, including a +1% APR boost on referees’ balances
Weekly competition called Master League rewards the top 10 VIP traders by PnL with 3,000 USDT
4x multiplier is used in Launchpool campaigns
Extra 0.002% bonus is applied to the trading volume of referees under the referral program
Affiliate Program
This program is a good fit for those with a large following on social media — such as a blog, channel, or crypto-focused project with a community. The Affiliate Program requires a simple application form to be submitted via the Flipster website, after which participants gain access to regular commission-based payouts.
The program includes a streamlined affiliate dashboard that provides detailed performance metrics such as trading volume, registrations, deposits, and more. Additional benefits include dedicated support from an account manager, as well as exclusive offers such as global event invitations and other promotional opportunities.
Educational Resources
Flipster provides a comprehensive set of educational materials to help users navigate the platform, available through detailed guides in the Support section. These resources cover not only how to use Flipster’s features but also explain how the tools themselves work, making them especially useful for beginners. In addition, users can access a crypto glossary and a regularly updated blog featuring news, platform announcements, and user-focused campaigns.
How to Deposit Crypto on Flipster
To unlock full access to Flipster’s features, users must first complete the registration process and pass KYC verification.
As a bonus, new users can earn up to 150 USDT through the Reward Hub by completing simple tasks such as verifying their account, making a deposit, placing a first trade, and reaching certain trading volume milestones.
Currently, Flipster supports only on-chain deposits. To make a deposit, navigate to the “Asset” page, choose the asset and network, and copy your wallet address. Flipster does not charge any deposit fees, only standard network fees apply.
How to Trade on Flipster
To make your first trade on Flipster, go to the ‘Trade’ page and select either Spot or Perpetual trading. Then, choose the asset you want to trade and open a position using a market or limit order.
Conclusion: Final Thoughts on Flipster
Flipster creates a convenient and multifunctional environment for traders, allowing them to trade with zero fees and lower spreads, earn passive income, and participate in various campaigns—all simultaneously. The platform maintains a hack-free record and applies strong security measures to protect both the platform and user accounts. This overview introduced one of the fastest-growing cryptocurrency exchanges, with a continuously expanding set of tools for traders.
To learn more about Flipster, check the official links below:
