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.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
