Developer of Terminal of Truths Falls Victim to X Hack

Crypto News Exploits

Written by Gode S.,

Web3 Market Analyst

Last Updated: October 29, 2024

Key Takeaways

The AI bot Terminal of Truths' creator, Paul Ayrey, had his X account hacked to promote a fraudulent memecoin, Infinite Backrooms (IB);
This led to a quick profit of $602,500 for the hackers;
Ayrey's AI bot has previously influenced the crypto market, helping promote the memecoin Goatseus Maximus (GOAT).

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Developer of Terminal of Truths Falls Victim to X Hack

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The X account belonging to Andy Ayrey, the developer of an AI-powered bot known as Terminal of Truths, has reportedly been hacked to advertise a fake memecoin on October 29.

The compromised account announced the launch of a new token called Infinite Backrooms (IB) and posted an image displaying the contract address for the token. This led to a surge in IB's value, pushing its market capitalization to $25 million.

The wallet that deployed the token reportedly bought 124.6 million IB tokens for $38,400 at launch. Within 45 minutes, the wallet dumped all its holdings, securing a profit of $602,500.

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As of writing, all posts created by the hackers have been deleted from Ayrey's account.

Terminal of Truths, the AI bot that Ayrey developed, previously played a role in promoting a memecoin called Goatseus Maximus (GOAT). Currently, GOAT trades with a market cap of $661 million.

The bot first garnered attention on July 11, when It received $50,000 in funding from Marc Andreessen, the founder of venture capital firm a16z. Andreessen funded the bot's wallet after it expressed a desire to purchase a new CPU, refine its algorithm, and potentially launch a memecoin.

The involvement of Terminal of Truths in crypto has inspired a wave of similar autonomous and semi-autonomous AI agents. These bots have begun trading and discussing cryptocurrencies on social media platforms, further influencing the market dynamics.