Crypto fraudsters hijacked Truth Terminal creator Andy Ayrey’s X account to promote a questionable coin.
At press time, the account remains under the control of crypto fraudsters who managed to make over $600,000 in shilling a token dubbed Infinite Backrooms (IB), named after an AI chat room experiment that ultimately led to the creation of the Truth AI-powered X account. Terminal.
The hacker first announced the token in a now-deleted post on October 29, via an encrypted message, promoting IB using the AI Chatroom project slogan “crazy dreams of an electric mind”, as well as a contractual address for the token.
Unsuspecting users rushed to make a quick buck with the latest cryptocurrency on the market and managed to push the token’s valuation up to $25 million at its peak, according to Dexscreener. data. Subsequently, the scammers abandoned 124.6 million IB acquired before the token promotion, less than an hour after the launch, and pocketed $602,500.
At press time, the token’s market cap had fallen to less than $2.5 million, amid rumors that Ayrey’s X account was compromised.
The scammers maintained control while writing and promoted a Telegram group dubbed “Solana Printers” and teased the launch of another token.
To create hype around the launch, the bad actors promised an airdrop of the upcoming token to anyone sharing and promoting their Telegram group, which had just over 1,600 members at the time of publication.
Ayrey made waves in the crypto space after its a16z-backed AI bot, “Truth Terminal“, approved a coin called Goatseus Maximus (GOAT), which was created as part of an Internet meme-inspired “religion” proposed by the bot.
Created on Solana-based Pump.fun token deployer, the token surpassed $850 million as major exchanges like Binance I listed it. Since then, Truth Terminal and Ayrey have gained a devoted following in the crypto space.
X accounts targeted by scammers
Infiltration of X accounts to promote fraudulent tokens has become a recurring trend in the crypto space. High level celebrities has important crypto projectsThe consecutive exploits exposed serious security vulnerabilities and raised concerns about X’s ability to protect users from targeted scams.
Although the platform has successfully recovered compromised accounts, the recent attack highlights that the underlying problem persists.