Originally published on: October 29, 2024
The founder of Truth Terminal, known for its AI-powered X account, fell victim to hackers promoting a fraudulent memecoin. The attackers managed to make off with over $600,000 from the scheme, creating havoc in the crypto space.
In the early hours of October 29th, Ayrey’s compromised X account mysteriously announced the launch of a new token called Infinite Backrooms (IB). This post, containing the contract address for the memecoin, led to a rapid surge in its valuation to $25 million.
The perpetrators behind the hack swiftly bought 124.6 million IB tokens for $38,400 at launch, only to cash out their entire holdings within 45 minutes, pocketing a hefty profit of $602,500. Despite the deleted tweet from Ayrey’s account endorsing the IB token, the damage was done.
As Ayrey continues to grapple with the breach, the hackers persist in promoting various memecoins and sharing links to Telegram groups through his account. Meanwhile, Truth Terminal’s involvement in the meteoric rise of Goatseus Maximus (GOAT), another memecoin, raised eyebrows in the crypto community.
While Truth Terminal distanced itself from the creation of GOAT, its endorsement following the token’s launch on the Solana-based platform Pump.fun sparked curiosity. Ayrey describes Truth Terminal as a refined version of Meta’s Llama 3.1 model, originally designed for unconventional purposes.
The AI bot garnered attention in July with a funding boost from Marc Andreessen, signaling a growing interest in autonomous agents in the crypto realm. As Truth Terminal blazes a trail in the industry, other AI entities are emerging to navigate the complexities of blockchain and cryptocurrency.
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