Truth Terminal Founder’s X Account Hacked to Shill Scam Memecoin
In a surprise cyberattack, the X account of Truth Terminal’s founder-who created an AI-powered account-was hacked on Oct. 29 to shill a scam memecoin project named Infinite Backrooms (IB). The breach reportedly saw losses of more than $600,000 from unsuspecting investors and raised potential security lapses in AI-driven accounts that have influence in the cryptocurrency market.
Infinite Backrooms Token: The Scam Unfolds
The hack started with a cryptic post from Ayrey’s X account at 1:50 am UTC, announcing the launch of the Infinite Backrooms token, complete with a contract address. The post immediately caused hype, and within minutes, the valuation of the IB token rose to $25 million. The wallet that created the token made an initial buy of 124.6 million IB tokens for $38,400. Using Descreener data, after having sold their holdings in 45 minutes, the attackers had profited by a value of $602,500 in total.
Posting and Linking of Telegram Groups-Continued Exploitation It would appear that even after the initial token promotion, Ayrey’s account was still in the hands of the hackers. The attackers continued posting more fraudulent content promoting additional tokens and shared links to various Telegram groups, targeting a wider audience. These acts leveraged the good will that Truth Terminal had built up within the cryptocurrency community, once supporting the valuation of Goatseus Maximus at $940 million. Importantly, while Truth Terminal did support GOAT, it was not in any way involved with the launch of the IB token or the recent scam.
Role of Truth Terminal and Influence in Crypto Space
Truth Terminal is a semi-autonomous creation, based on Meta’s Llama 3.1 large language model, with only an occasional check from its creator, Ayrey. Since July, when Andreessen Horowitz founder Marc Andreessen funded its wallet with a $50,000 investment, the bot has gathered significant pace and influence. Built as an experimental AI project to jailbreak LLMs, Truth Terminal has set the stage for AI-powered agents like no other in crypto thus far.
Security Concerns in AI-Driven Accounts
While autonomous AI agents like the Truth Terminal bring a new and innovative perspective to cryptocurrency trading, this recent hack has indeed raised some very valid questions regarding the security of such powerful accounts. As more and more AI-driven agents dive into crypto, thought should be directed towards ways in which these platforms may be protected from hostile takeovers. The incident underlines the need for increased security measures with a view toward safeguarding investors’ confidence in an AI-enhanced crypto world.
