Memecoin

GOAT

Notable

Rise

<ul class="wp-block-list">
 <li>Truth Terminal’s hacked account promoted a fake token, IB, skyrocketing its market cap to $25M, then crashing 98%.</li>  
 <li>The hacker profited $600K through a quick sell-off, exploiting hype before the token’s sudden value drop.</li>  
 <li>Ayrey suspects a SIM swap enabled the hack; his account may still be compromised despite recovery attempts.</li> 
</ul>  
<p>At 1:50 am UTC, Truth Terminal’s founder Andy Ayrey’s X account was hacked. The hacker used Ayrey’s platform to promote a suspicious token, dubbed Infinite Backrooms (IB), creating hype among unsuspecting investors. As the news spread, the token’s market cap surged beyond $25 million, only to face a swift and severe crash shortly afterward.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/Bullstreetgroup/status/1851164118968865092
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<p>The hacker’s strategy was calculated. After sharing the IB token contract, they used the initial hype to make substantial gains, deploying and buying 124.6 million tokens for about $38,400.&nbsp;</p>  
<p>Within 45 minutes, they sold their holdings for $602,500, <a href="https://dexscreener.com/solana/gcdd3jlws37mevuvws8vawbgn2rzeefrrok23jy7g5x6" target="_blank" rel="noopener noreferrer nofollow">according</a> to DEXScreener. This led to a rapid and unexpected sell-off, causing the IB token to plunge nearly 98%, leaving its market cap at $500,000.</p>  
<h2 class="wp-block-heading" id="h-temporary-rebound-and-community-takeover-nbsp"><strong>Temporary Rebound and Community Takeover</strong>&nbsp;</h2>  
<p>Despite the drastic fall, IB experienced a temporary rebound attributed to a community takeover effort. Community members rallied around the token to recover some value. Ayrey, meanwhile, managed to briefly regain control of his account and issued an update on the attack.</p>  
<p>Ayrey suspects a SIM swap attack, targeting his mobile carrier, enabled the hacker’s access. However, despite Ayrey’s efforts to secure his account, suspicious posts continued to emerge, suggesting a continued compromise.</p>  
<h2 class="wp-block-heading" id="h-truth-terminal-s-notable-rise"><strong>Truth Terminal’s Notable Rise</strong></h2>  
<p>Truth Terminal has gained recognition in the crypto space as the first chatbot to amass over $1 million in holdings. It achieved this by interacting with and <a href="https://x.com/AndyAyrey/status/1845320110002798963" target="_blank" rel="noopener noreferrer nofollow">endorsing</a> various memecoins, including the popular <a href="https://cryptonewsland.com/goatseus-maximus-defies-market-downturn/" target="_blank" rel="noopener noreferrer nofollow">GOAT</a> coin.&nbsp;</p>  
<p>Ayrey developed Truth Terminal using Anthropic’s Claude 3 Opus language model, drawing data from his personal corpus and social media platforms. The crypto community has responded with heightened caution, signaling the importance of vigilant security in digital assets.</p> 
<p>The post <a href="https://cryptonewsland.com/truth-terminal-founders-social-media-hacked/" rel="noopener noreferrer nofollow">Truth Terminal Founder’s Social Media Hacked, Investors Suffer Losses as Memecoin Scam Unfolds</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Truth Terminal Founder’s Social Media Hacked, Investors Suffer Losses as Memecoin Scam Unfolds

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