{"id":80400,"date":"2023-06-19T11:22:04","date_gmt":"2023-06-19T08:22:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80400"},"modified":"2025-09-11T16:47:13","modified_gmt":"2025-09-11T13:47:13","slug":"meme-token-bob-slumps-after-elon-musk-warns-of-fraud","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/meme-token-bob-slumps-after-elon-musk-warns-of-fraud\/","title":{"rendered":"Meme token BOB slumps after Elon Musk warns of fraud"},"content":{"rendered":"<p>Twitter blocked the account of the popular AI bot Explain This Bob, linked to the meme cryptocurrency, after Elon Musk&#8217;s fraud claim.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">This sure looks like a scam crypto account. If so, it will be suspended.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\\\"https:\/\/twitter.com\/elonmusk\/status\/1670234733949624320?ref_src=twsrc%5Etfw\\\">June 18, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On June 18, the billionaire said that Bob is likely a \\&#8221;crypto-scam account\\&#8221;. The account was subsequently blocked.<\/p>\n<p>The bot&#8217;s profile had more than 400,000 followers. The project was created by Indian programmer Prabhu Biswal and used the OpenAI GPT-4 model to respond to tweets.<\/p>\n<p>The bot has its own ERC-20 token \u2014 Bob Token (BOB). According to <a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/bob-token\\\">CoinGecko<\/a>, after the account was suspended the coin&#8217;s price fell by more than 30%.<\/p>\n<figure class=\\\"wp-block-image size-full\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Uniswap-V2-_GeckoTerminal.com_BOB_2023-06-19_10-38-13-1.webp\\\" alt=\\\"Uniswap-V2-_GeckoTerminal.com_BOB_2023-06-19_10-38-13-1\\\" class=\\\"wp-image-209583\\\"\/><figcaption class=\\\"wp-element-caption\\\">15-minute chart of BOB\/USD on Uniswap. Data: <a href=\\\"https:\/\/www.geckoterminal.com\/eth\/pools\/0xbe8bc29765e11894f803906ee1055a344fdf2511?utm_medium=referral&#038;utm_source=coingecko&#038;utm_campaign=livechart-btn\\\">GeckoTerminal<\/a>. <br \/><\/figcaption><\/figure>\n<p>In April, Musk expressed the opposite view about the bot, saying he loves it. The project&#8217;s team used this post in promotional materials on their <a href=\\\"https:\/\/explainthisbob.com\/\\\">site<\/a>.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">I love Bob<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\\\"https:\/\/twitter.com\/elonmusk\/status\/1648794727238492162?ref_src=twsrc%5Etfw\\\">April 19, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The bot&#8217;s representatives took the issue in stride. They posted an image showing the billionaire watching the token mascot in prison.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"qme\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/twitter.com\/hashtag\/FREEBOB?src=hash&#038;ref_src=twsrc%5Etfw\\\">#FREEBOB<\/a> <a href=\\\"https:\/\/t.co\/SOUm7opQ7o\\\">pic.twitter.com\/SOUm7opQ7o<\/a><\/p>\n<p>\u2014 Bob (@BobEthToken) <a href=\\\"https:\/\/twitter.com\/BobEthToken\/status\/1670407943890542592?ref_src=twsrc%5Etfw\\\">June 18, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The hashtag #FREEBOB (\\&#8221;Free Bob\\&#8221;) also spread across social media. Many users argued that the coin was not fraudulent, and that the account suspension was not backed by evidence. One enthusiast pointed to the project&#8217;s full decentralization and zero exchange fees for trading the token.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">So does <a href=\\\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\\\">@elonmusk<\/a> plan to provide any proof of <a href=\\\"https:\/\/twitter.com\/search?q=%24BOB&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$BOB<\/a> being a scam or are we just expected to take his word for it? <\/p>\n<p>Intrigued to understand what constitutes a scam crypto account <a href=\\\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\\\">@elonmusk<\/a>?<\/p>\n<p>Renounced contract<br \/>0 tax<br \/>0 team tokens<br \/>Fully decentralised<br \/>Fair launched<\/p>\n<p>Can you explain\u2026 <a href=\\\"https:\/\/t.co\/0U2nuUsyqB\\\">pic.twitter.com\/0U2nuUsyqB<\/a><\/p>\n<p>\u2014 Crypto Boss (CB) ? (@Cryptoboss2000) <a href=\\\"https:\/\/twitter.com\/Cryptoboss2000\/status\/1670405871124328450?ref_src=twsrc%5Etfw\\\">June 18, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abIs Elon Musk planning to provide any evidence that BOB is a scam, or are we just to take his word for it? [\u2026] Can you explain the difference between BOB and DOGE? And why one coin is a scam and the other isn\u2019t?\u00bb, he wrote.<\/p>\n<\/blockquote>\n<p>Earlier in May, the head of Tesla and SpaceX <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-warns-against-counting-too-much-on-dogecoin\">advised<\/a> investors not to bet too large on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-dogecoin-doge\">Dogecoin<\/a> and not to put all their money into the asset. However, he noted that DOGE remains his favourite cryptocurrency.<\/p>\n<p>In the same month, Binance chief Changpeng Zhao <a href=\"https:\/\/forklog.com\/en\/news\/changpeng-zhao-elon-musk-gives-dogecoin-a-new-lease-on-life\">said<\/a> that Musk had &#8216;prolonged Dogecoin&#8217;s life,&#8217; which could have disappeared long ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twitter blocked the account of the popular AI bot Explain This Bob, linked to the meme cryptocurrency, after Elon Musk&#8217;s fraud claim.<\/p>\n","protected":false},"author":1,"featured_media":80401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1217,1161],"class_list":["post-80400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elon-musk","tag-memes"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80400"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80400\/revisions"}],"predecessor-version":[{"id":80402,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80400\/revisions\/80402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80401"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}