Crypto scammers hijack Truth Terminal founder’s X account

Crypto scammers took over the X account of Truth Terminal creator Andy Ayrey to promote a dubious meme coin.

At the time of writing, the account remains under the control of crypto scammers, who managed to make more than $600,000 by shilling a token called Infinite Backrooms (IB), named after an AI chat room experiment that ultimately led to the creation of the AI-powered X account Truth. Terminal.

The post of scammers promoting IB was deleted from Ayrey’s account | Source: X

The hacker first announced the token on October 29 in a now-deleted post, via a cryptic post promoting IB using the AI ​​Chatroom project’s slogan “crazy dreams of an electric mind” and a contract address for the token.

Unsuspecting users jumped in to make a quick buck on the newest cryptocurrency on the market and managed to push the token’s valuation up to $25 million at its peak, according to Dexscreener data. Fraudsters then disposed of the 124.6 million IB they had acquired before the token’s launch, less than an hour after launch, making off with $602,500.

At the time of writing, the market value of the token had dropped below $2.5 million after news broke that Ayrey’s X account had been compromised.

The scammers took control while writing and promoted a Telegram group called “Solana writers” and teased the launch of another token.

To create excitement around the launch, bad actors have promised to airdrop the upcoming token to anyone who shares and promotes the Telegram group, which had just over 1,600 members at the time of publication.

Scammers promoting the Telegram group from Ayrey’s account | Source: X

Ayrey made waves in the crypto space after a16z-powered AI bot “Truth Terminal” endorsed a meme coin called Goatseus Maximus (GOAT), which was created as part of an internet meme-inspired “religion” that the bot proposed.

The token, created on Solana-based token distributor Pump.fun, exceeded $850 million with the listing of major exchanges such as Binance. Since then, both Truth Terminal and Ayrey have gained a dedicated following in the crypto space.

X accounts targeted by fraudsters

Infiltrating X accounts to promote fraudulent tokens has become a recurring trend in the crypto space. Back-to-back exploits, from high-profile celebrities to leading crypto projects, have exposed serious vulnerabilities and raised concerns about X’s ability to protect users from targeted scams.

Although the platform has managed to recover the compromised accounts, the latest attack shows that the underlying problem remains.