The account of Andy Ayrey, creator of Truth Terminal, started a series of messages, all pointing to a new token launch. The new asset almost immediately turned into a rug pull, scamming the initial buyers.
The X account of Andy Ayrey is considered compromised, after briefly posting, then erasing a token contract address. Ayrey’s related X accounts posted updates on protecting all digital assets, including the wallets of Truth Terminal, which already hold valuable tokens.
The attack also meant all the holdings of Ayrey and Truth Terminal have been moved to unknown addresses, which are not yet revealed. Not having those public wallets means other projects may not be able to use them as promotional tools, by sending their tokens as an airdrop.
Ayrey advised against trading any of the tokens proposed through his compromised account, and warned against clicking on links, which may be wallet drainers. Truth Terminal will also update on the situation as Ayrey takes over, while retaining its AI-generated insights separately. The accounts of Ayrey, which started as a performance, quickly gained size and influence to become one of the key sources of trends in the meme space.
security update:
– @andyayrey compromised – @constellatelabs and @truth_terminal secured with hardware key and no phone 2fa – personal wallet and truth terminal’s wallets have been moved by me to airgapped location
attack still underway, updates posted here
— Constellate #FREEANDY (@ConstellateLabs) October 29, 2024
The IB ticker distributed through the compromised account has reached 3,104 wallets before announcing the scam. The token is still actively transferred to Raydium, Jupiter DEX aggregator, and Meteora for liquidation and residual trading.
Posting on X and token launch only took about an hour. The IB token started trading against SOL, but only took a few minutes before ending up in a rug pull. The Andy Ayrey account is still considered risky. Bots in the replies keep posting rogue tickers in the hope of additional rug pulls.
Ayrey grew in popularity in the past few days, along with his creation, the Truth Terminal X bot. Even a tangential mention of assets led to irrational rallies. Some of the launches were only related to ‘lore’ seen either through Truth Terminal, or in the Infinite Backrooms, a premium AI product by Ayrey.
The bot’s creator has not promoted any crypto assets, and Token Terminal still has no official token, except for GOAT. Despite the latest hack, GOAT proved anti-fragile, bouncing from lows of $0.57 back above $0.65. GOAT was also among the tokens that existed for a long time before breaking out. The asset faced pressure from day traders, but has never gone through a team rug pull.
Previously, a similar attack happened against the SPX6900 account, which posted a rogue token contract briefly. Hacked celebrity accounts are not unusual in crypto meme space, but they require additional caution.
The hack against Ayrey’s account follows the crash of Numogram (GNON), another AI-themed token where the lead developer sold and abandoned the project. While compromised accounts are common, there have been accusations that some of the hacks may be a deliberate gimmick to perform a rug pull.
Infinite Backrooms (IB) started trading hours ago
The rogue IB token started trading hours before the mention on Ayrey’s X account. The pair was launched and drew in 676.49 SOL more than four hours before the mentions on X.
Infinite Backrooms (IB) went for an immediate rug pull. | Source: DEXScreener
The last trading activity for the token was a series of sales from a single whale holder. The wallet has no other tokens and was specifically created to launch, trade, and then sell IB.
The trader transformed the fake IB token into SOL and WSOL, later sending it out for further swaps through decentralized protocols. Since the latest selling, the rogue IB token has not seen any activity, and its contract information was also removed from the account.
The Infinite Backrooms brand is still intact. The project relies on interactions between two instances of Claude-3 Opus, which generate surprising twists and ideas. Some of those ideas are then used to generate meme tokens. However, the project is not officially tokenized, and does not support a specific asset.
Previously, the Backrooms brand has also been used to launch new tokens on Pump.fun, but this is the first time a ticker is distributed through a high-profile X account.
