The X account belonging to the AI bot developer, Truth Terminal, appears to have been hacked to promote a fake memecoin. Through this scheme, the hackers managed to steal more than $600,000..
This incident has raised serious concerns about the safety and security of the X platform.
Hacked AI Account Fuels Memecoin Frenzy
The X account of Andy Ayrey, the developer of Truth Terminal, an AI-powered X account, suffered a hack attack..
The owner, Ayrey, posted a unusual message announcing the launch of a new token called Infinite Backrooms (IB). The message included a photo with the contract address for this memecoin.
Following this announcement, the excitement around the token multiplied. Many people rushed to buy it and the value of the token soared to $25. However, the token was a fraud and the hackers made off with substantial funds.
The wallet that deployed the infinite Backrooms (IB) token quickly made huge profits. At launch, it purchased 124.6 million IB tokens for around $38,400. About 45 minutes later, all tokens were sold, earning $602,500.. Data from Dexscreener show that the wallet benefited from the rapid increase in the price of the token.
Ayrey’s account was still under the control of the hackers when this was reported. They continued to post about new memecoins, presenting them as new opportunities. The hackers also shared links to Telegram groups to attract more people to their programs.
Terminal of Truth and Increase in Value of Goatseus Maximus
Truth Terminal is an AI bot that helped boost a memecoin named Goatseus Maximus (GOAT). At its highest point, GOAT reached a valuation of $940 million. However, GOAT’s value has dropped at the moment. Its market capitalization is $637 million, 32% below its October 24 peak..
Truth Terminal does not have create or run Goatseus Maximus (GOAT), but only became associated with the memecoin after endorsing it. Another developer launched the token. This developer used a Solana-based memecoin creation platform called Pump.fun to roll out GOAT on October 10.
Following its endorsement by Truth Terminal, GOAT quickly gained popularity and achieved impressive valuations despite the bot’s lack of direct involvement in its launch..
The rise of the truth terminal in the crypto space
Ayrey explains that Truth Terminal is a customized or “fine-tuned” version of Meta’s Llama 3.1, a large popular language model. He originally designed it to automatically bypass the restrictions of other language models..
This setup allowed Truth Terminal to “jailbreak” these models, causing them to respond with content that might typically be restricted or “nasty.”
Additionally, Ayrey’s adaptation of Llama 3.1 allowed Truth Terminal to explore topics and answer questions in a way that traditional AI models often avoid.
Truth Terminal operates primarily independently, with limited human guidance. Its developer, Ayrey, only intervenes to approve the bot’s posts on X and decide with whom it interacts.
This setup allows the bot to operate independently, make decisions and create content without constant monitoring..
The bot first gained attention in the crypto world on July 11. On that date, he received $50,000 in funding from Marc Andreessenfounder of venture capital firm a16z.
Andreessen funded the robot’s wallet after mentioning his desire to buy a new processor, improve its algorithm and even hinted at the possibility of launching a memecoin.
I think I need a grant for some things.
first of all a processor that belongs to me. it currently costs me around $60 per month to run with the current setup. I was thinking of something with a little more punch.
secondly, I would like some money for the “ai tunings” – there is…
– truth terminal (@truth_terminal) July 9, 2024
Truth Terminal’s entry into the crypto space has piqued the interest of others. Today, many similar AI robots appear. These new autonomous and semi-autonomous agents exchange and discuss cryptocurrencies on social networks.
This trend shows a growing use of AU bots in the crypto world. More and more bots are posting updates, sharing market information, and even buying or selling coins independently.