Truth Terminal founder’s X account hacked to promote scam Memecoin

October 29, 2024
Border
2
Min
Truth Terminal founder’s X account hacked to promote scam Memecoin

Photo credit: Freepik

The founder of the AI-powered X account "Truth Terminal" appears to have been hacked to promote a fraudulent memecoin, with attackers netting over $600,000 from the scam.

On Oct. 29, Ayrey’s X account made a cryptic post announcing the launch of the new Infinite Backrooms (IB) token, complete with a contract address for the memecoin. This announcement quickly sent the token's valuation soaring to $25 million.

However, the wallet responsible for deploying the IB token purchased 124.6 million tokens for $38,400 at launch and sold all its holdings within 45 minutes, securing a profit of $602,500, according to data from Descreener.

Truth Terminal is the AI bot known for propelling the memecoin Goatseus Maximus (GOAT) to a peak valuation of $940 million.

GOAT is currently trading at a market cap of $637 million, down 32% from its October 24 all-time high.

Although the bot had no involvement in launching GOAT, it endorsed the token after a developer launched it on the Solana-based memecoin deployer on October 10.

Ayrey has described Truth Terminal as a “fine-tuned” version of Meta’s Llama 3.1 large language model, originally developed to automate the jailbreaking of other LLMs to say inappropriate things.

Truth Terminal operates semi-autonomously, with Ayrey only stepping in to approve and filter its X posts and decide on its interactions.

The bot first gained attention in the crypto space on July 11 when it secured $50,000 in discretionary funding from a16z founder Marc Andreessen.

Andreessen funded the bot’s wallet after it expressed a desire to buy a new CPU, tweak its algorithm, and potentially launch a memecoin.

Truth Terminal’s venture into the cryptocurrency world has inspired a wave of similar autonomous and semi-autonomous AI agents, which have begun trading and posting about cryptocurrencies on social media.

Similar News

other News

Featured Offer
Unlimited Digital Access
Subscribe
Unlimited Digital Access
Subscribe
Close Icon