Truth Terminal’s Developer Hacked, Over $600K Stolen in New Memecoin Scam

The X account of Ayrey, developer of the AI-driven bot Truth Terminal, was hacked to promote a suspicious new memecoin, Infinite Backrooms (IB). In a cryptic post published on October 29, Ayrey’s account touted the launch of IB, sparking a surge in the token’s value.

The tweet, which included the contract address for the token, caused IB’s market cap to skyrocket to $25 million in a short span. However, the sudden rise was engineered for malicious intent. The wallet that launched IB reportedly purchased around 124.6 million tokens for $38,400 and then liquidated them within 45 minutes, securing $602,500 in profit.

Posting About New Memecoins on Compromised Account

At the time of writing, Ayrey’s X account remains compromised. Hackers have continued to release posts about supposed new token launches, also sharing links to Telegram groups in a likely bid to deceive more users.

This recent breach follows Truth Terminal’s previous success in promoting another memecoin, Goatseus Maximus (GOAT). Unlike IB, the AI bot had no involvement in launching GOAT but did support it after a developer used Solana’s pump.fun memecoin deployer to create it on Oct. 10. With Truth Terminal’s endorsement, GOAT saw a meteoric rise, hitting an all-time high of $940 million in market cap, although it’s since dropped to $637 million.

Truth Terminal and Crypto Bots

Developed as a fine-tuned model based on Meta’s Llama 3.1, Truth Terminal has carved a unique place in the crypto world, even attracting $50,000 in funding from Marc Andreessen in July to expand its capabilities. Originally designed to automate “jailbreaking” other large language models, Truth Terminal’s venture into crypto promotion has inspired a wave of semi-autonomous AI agents in the industry.

As the hack unfolds, it underscores the need for stronger security measures around crypto-related accounts, particularly as AI’s presence in the sector expands rapidly. Ayrey has yet to regain access to his account, leaving followers on high alert as the hackers continue leveraging the platform for fraudulent promotions.