AI bot Truth Terminal gained attention for its involvement in a memecoin scam that caused significant losses to its subscribers.
The creator of the robot, Andry Areay, revealed that his account had been hacked, allowing fraudsters to exploit his popularity.
The scam started with the memecoin Goatseus Maximus, which increased in value after being promoted by Truth Terminal. Areay had previously secured $50,000 in funding from Marc Andreessen and secured significant GOAT tokens, becoming the first AI robot millionaire.
However, after his X account was compromised, a hacker falsely claimed that Areay had launched the IB token, leading to a $25 million valuation.
The hacker made over $600,000 by selling large amounts of IB tokens shortly after the scam launched. Despite the breach, Areay alerted his followers to the scam and stressed that Truth Terminal would never promote symlinks.
This incident highlights the growing prevalence of crypto scams, urging individuals to remain cautious and avoid sharing personal information. In response, agencies like the FBI are adopting new technologies to combat these threats.
