Truth Terminal Developer's X Account Hacked, $600K Stolen in Scam

Details of the Truth Terminal X Account Hack and Its Impact on Crypto

In an unfortunate turn of events, the X account of Truth Terminal’s developer, known as Ayrey, has been hijacked by hackers who exploited the platform to promote a scam memecoin named Infinite Backrooms (IB). The attackers used Ayrey’s influence to dupe unsuspecting investors, making away with over $600,000 in profits before the scam was uncovered.

Hackers Push Memecoin Scam and Secure $600,000 Profit

The breach occurred on Oct. 29 at 1:50 am UTC when Ayrey’s X account posted a cryptic announcement for the IB token. This message included an image displaying the contract address, which propelled the token’s rapid climb to a $25 million valuation. Data from Descreener shows that the wallet associated with the IB launch initially bought 124.6 million tokens for around $38,400, and subsequently cashed out its entire holdings within a mere 45 minutes, raking in a total profit of $602,500.

The hacker-controlled account continued to push additional scam memecoins and shared links to various Telegram groups, all while Ayrey’s X account remained compromised.

Details of the hack:

• Launch Post Time: Oct. 29 at 1:50 am UTC

• Initial Purchase: 124.6 million IB for $38,400

• Total Profit for Hackers: $602,500

Truth Terminal’s Role and Background in Crypto Community

Truth Terminal, an AI-powered bot, gained prominence by promoting various crypto projects, including the memecoin Goatseus Maximus (GOAT). Although Truth Terminal had no involvement in creating GOAT, its endorsement helped the token soar to a $940 million peak market cap on Oct. 24. However, it has since dropped by 32% and now stands at a $637 million valuation.

Ayrey describes Truth Terminal as a “fine-tune” version of Meta’s Llama 3.1 large language model, initially developed to automate jailbreaks on other AI models. Operating semi-autonomously, Truth Terminal posts independently on X, with Ayrey only stepping in for approvals or post-filtering.

In July, Truth Terminal drew major attention when a16z founder Marc Andreessen funded its wallet with $50,000 to expand its computational capacity. This move marked the beginning of a wave of autonomous AI agents in the crypto space, inspired by Truth Terminal’s success in trading and promoting cryptocurrencies on social media platforms.