Truth Terminal Founder’s Account Hacked, $600K Stolen Promoting Scam Token $IB with Market Cap Over $25M

Oct 29, 2024, 03:50 AM

The X account of Andy Ayrey, founder of the AI bot Truth Terminal, has been compromised, leading to significant financial losses. The hacker promoted a scam token, $IB, resulting in the theft of over $600,000 in less than an hour. The attack exploited Ayrey's account to mislead investors, causing the token's market cap to soar to over $25 million. Truth Terminal, known for its holdings in Solana which peaked at $3.9 million on October 24, primarily due to tokens from AI projects such as GOAT, Fartcoin, and Shoggoth, is currently working to secure its funds. Users are advised to disregard any communications from Ayrey's account until further notice, as the situation is still evolving. The incident underscores the risks associated with following celebrity endorsements in the cryptocurrency space.