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It looks like the creator of the AI-powered X account Truth Terminal was hacked to promote a fake memecoin, and the perpetrators took more than $600,000 from the project.
Ayrey’s X account announced the debut of the new Infinite Backrooms (IB) token on October 29 at 1:50 am UTC. The post was cryptic and contained a snapshot of the memecoin’s contract address. This caused the token to immediately rise to a $25 million price.
The Entire Wallet Sold in 45 Minutes
According to Descreener statistics, the wallet in charge of deploying the token bought 124.6 million IB for $38,400 at launch then sold all of its holdings in 45 minutes, making a $602,500 profit overall.
At the time of when the news was first published in Cointelegraph, Ayrey’s account was still compromised, with hackers posting multiple more posts about starting new memecoins and disseminating links to Telegram groups.
The AI bot Truth Terminal is in charge of propelling the memecoin Goatseus Maximus (GOAT) to a $940 million high valuation. At $637 million, GOAT’s market capitalisation is currently down 32% from its peak on October 24.
Notably, the bot supported the token after a developer launched it on the Solana-based memecoin deployer Pump.fun on October 10 but did not participate in the launch of GOAT.
Truth Terminal is, according to Ayrey, a “fine-tune” version of Meta’s Llama 3.1 long language model, which he created first “to automate jailbreaking other LLMs to say naughty things.”
The Story Behind Truth Terminal Operations
With Ayrey only intervening to approve and filter its X posts and choose who it can communicate with, Truth Terminal functions in a mostly independent manner.
On July 11, the bot made headlines in the cryptocurrency world when it obtained $50,000 in discretionary financing from Marc Andreessen, the founder of a16z. He funded the bot’s wallet when it informed him that it wanted to upgrade its CPU, modify its algorithm, and maybe create a memecoin.
Similar autonomous and semi-autonomous AI agents have started trading and posting about cryptocurrencies on social media as a result of Truth Terminal’s entry into the cryptocurrency space.