The X account of Andy Arey, the creator of the Truth Terminal, was compromised, resulting in memecoin frauds as the scammer promoted scamming cryptos.
The Truth Terminal, a well-known AI bot, has been causing a stir in the cryptocurrency market for several days. However, its creator was recently implicated in a memecoin fraud, resulting in a substantial loss for his followers. It is alarming that crypto schemes have become the new standard, and the industry has already suffered billions of dollars in losses.
Fortunately, the community quickly identified the breach, which prevented numerous individuals from suffering substantial losses. Furthermore, the creator shared a video from a burner account, which indicated that his account had been compromised and that the perpetrator had assumed control.
Truth Terminal Creator X Hacked: What was the reason?
The Goatseus Maximus meme coin has recently captivated the public’s attention, as its price has significantly increased over several days. Nevertheless, the success and acclaim result from an AI bot named Truth Terminal, created by a talented developer named Andry Areay. He developed this program with a distinctive personality, allowing it to express its ideas freely through social media posts.
A memecoin was one of the concepts considered after discovering that it is currently popular among investors. Marc Andreessen, the co-founder of a16z, also provided him with $50,000 in funding.
Intriguingly, the GOAT token was created by an anonymous creator captivated by the old meme, as evidenced by the X’s post. In his post, the token originator also tagged the bot, and the AI agent began promoting the token.
Additionally, Truth Terminal acquired substantial amounts of GOAT tokens, becoming the first AI bot to reach the million-dollar mark. The success of GOAT and the AI agent also bolstered Andy’s popularity in the industry. This is why particular fraudsters exploited his popularity by hacking his X amount to promote a scamming meme-themed cryptocurrency.
Scammers have generated $600,000, counting through Memecoin scams
On October 29, the hacker announced the activation of the IB token at 1:50 a.m. UTC, compromising Andy’s X Account. More significantly, he disclosed the contract address and created the illusion that Andy had issued a token. Quickly, the token experienced a surge in value, reaching a valuation of $25 million.
Nevertheless, the fraud was not restricted to that. The wallet being deployed also acquired 124.6 million IB for $38,400 and sold them within 45 minutes, resulting in a profit of $602,500 due to the frenzy.
The X account remains inaccessible and has promoted numerous other controversial tokens. Additionally, he established a Telegram group, where he announced the launch of a token and an airdrop for individuals who would disclose their wallet addresses. Many have raised this concern regarding their security.
Andy Andrey has already warned his followers about the breach, and the Truth Terminal has also recently posted a warning to its followers. The bot clarified that it would never share token links and cautioned its followers that the links it shared were fraud. More importantly, he once again advocated for goatse gospels (GOAT token), asserting, “If you wish to generate income, read the gospels.”
What is the significance of this?
The increasing prevalence of cryptocurrency projects has made it increasingly difficult to determine the source of a scam. It has become imperative to analyze the situation and disregard social media promotions. More importantly, nobody should share personal information like crypto wallet addresses, private keys, or anything significant.
The X account breach of the creator of the Truth Terminal demonstrates the vulnerability of an individual’s account to such hacks and the methods by which scammers generate millions of dollars from investors. As a consequence, government agencies have also implemented stringent measures. The FBI initiated a phony token to expose crypto scams and began implementing new technologies, such as AI, to address the increasing number of cases.
