Crypto scammers have taken control of Truth Terminal creator Andy Ayrey’s X account to endorse a questionable meme coin. As of now, the scammers still hold control over the account and have already made over $600,000 by promoting a token called Infinite Backrooms (IB), which was named after an AI chatroom experiment that led to the creation of the AI-powered X account Truth Terminal.
The hackers initially introduced the token in a now-deleted post on October 29th. They used the catchphrase “the mad dreams of an electric mind” from the AI Chatroom project, along with a contract address for the token, to entice unsuspecting users. These users rushed to invest in the cryptocurrency, causing its valuation to reach a peak of $25 million. However, the scammers quickly sold off 124.6 million IB tokens they had acquired before promoting the token, resulting in a profit of $602,500.
Currently, the market cap of the token has dropped to less than $2.5 million due to the news of Ayrey’s compromised X account. The scammers continue to control the account and have been promoting a Telegram group called “Solana printers” while teasing the launch of another token. To generate excitement for the upcoming token, they promised an airdrop to anyone who shared and promoted their Telegram group.
Ayrey gained attention in the crypto space when his AI bot, Truth Terminal, backed a meme coin called Goatseus Maximus (GOAT). This coin was created as part of an internet meme-inspired “religion” proposed by the bot. GOAT saw its value soar to over $850 million after major exchanges like Binance listed it. Both Truth Terminal and Ayrey have since gained a loyal following within the crypto community.
Targeting X accounts to promote scam tokens has become a recurring issue in the crypto space. From celebrities to prominent crypto projects, these exploits have revealed serious security vulnerabilities and raised concerns about X’s ability to protect users from targeted scams. Despite the platform’s efforts to recover compromised accounts, this recent attack highlights the ongoing problem.
In addition to these scams, crypto phishing scammers have also been targeting investors who are chasing after Trump-backed WLFI tokens.