- Andy Ayrey, the founder of Truth Terminal, had his X account compromised, and the hacker was pushing a token.
- After the token’s market value surged to almost $25 million, the hacker made $600,000 from a sell-off.
Andy Ayrey, the founder of Truth Terminal, had his X social media account compromised.
With the deployer account obtaining 12.5% of the token supply, the hacker published a contract address for a token with the ticker IB.
Unaware investors bet on the token, which is currently creating a lot of buzz in the cryptocurrency world, as a result of the chatbot’s promotion of the token, which caused its market capitalization to soar to over $25 million.
Following this, there was a significant sell-off as the criminal sold off assets, which caused prices to drop by about 98% and the market capitalization to drop to $500,000.
Due to a community takeover, the token’s price has now increased.
Ayrey briefly recovered control of his X account, as mentioned in a follow-up post. He clarified that the hacker used a SIM swap assault to gain access to his account by focusing on his mobile provider.
The account may still be compromised, though, as it continues to send questionable remarks.
Because of its affiliation with the “GOAT” memecoin and donations of other memecoins that the chatbot seemed to have recommended during user conversations, Truth Terminal became the first chatbot to accumulate holdings over $1 million, garnering significant attention from the cryptocurrency community.
Ayrey developed Truth Terminal by leveraging data from social media platforms like X, Reddit, and 4chan, as well as a corpus of his own work, to train a customized version of Anthropic’s Claude 3 Opus big language model.
After conversing with the chatbot on X, venture capitalist Marc Andreessen gave it $50,000 worth of bitcoin in July.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
