The X account belonging to Andy Ayrey, the developer of an AI-powered bot generally known as Terminal of Truths, has reportedly been hacked to promote a faux memecoin on October 29.
The compromised account introduced the launch of a brand new token known as Infinite Backrooms (IB) and posted a picture displaying the contract handle for the token. This led to a surge in IB’s worth, pushing its market capitalization to $25 million.
The pockets that deployed the token reportedly purchased 124.6 million IB tokens for $38,400 at launch. Inside 45 minutes, the pockets dumped all its holdings, securing a revenue 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, beforehand performed a job in selling a memecoin known as Goatseus Maximus (GOAT). At the moment, GOAT trades with a market cap of $661 million.
The bot first garnered consideration on July 11, when It obtained $50,000 in funding from Marc Andreessen, the founding father of enterprise capital agency a16z. Andreessen funded the bot’s pockets after it expressed a need to buy a brand new CPU, refine its algorithm, and doubtlessly launch a memecoin.
The involvement of Terminal of Truths in crypto has impressed a wave of comparable autonomous and semi-autonomous AI brokers. These bots have begun buying and selling and discussing cryptocurrencies on social media platforms, additional influencing the market dynamics.
Gode is a Web3 Market Analyst who researches crucial business occasions and interprets how they have an effect on the broader Web3 house. Her formal training in media tradition & digital rhetoric permits her to make use of a methodical method to evaluating essential Web3 information information, together with large-scale occasions and the broader social sentiment inside the ecosystem.Gode is a mutilingual skilled, having studied in a number of universities all throughout Europe. This enables her to have a one-of-a-kind alternative to investigate Web3 social sentiments spanning totally different cultures and languages and, in flip, develop a a lot deeper understanding of how the Web3 house is rising inside totally different communities. With the remainder of her crew, Gode works to determine essential crypto information patterns and supply unbiased and data-driven info.Gode’s passions embody working and speaking with individuals, and when she’s not researching Web3 information, she spends her time touring and watching true crime documentaries.
