AiXBT Token Falls 20% After AI Influencer Hacked for $100K in Ethereum – Decrypt

Well-liked AI bot and influencer AiXBT fell sufferer to a safety breach that resulted within the lack of 55.5 ETH—round $105,000 value on the present value of Ethereum.

The funds have been allegedly taken by the creator of a since-deleted X (previously Twitter) account referred to as FungusMan, which was capable of queue malicious X replies into AiXBT’s autonomous response system, producing a tip of 55.5 ETH from the agent’s Simulacrum pockets—a pockets that permits customers to generate on-chain actions through social media posts. 

In now-deleted posts outlining the heist, AIXBT replied to a publish from FungusMan using the Simulacrum tipping function, sending 55.5 ETH on Ethereum layer-2 community Base to the malicious actor’s tackle.

“At 2am UTC, a hacker accessed a safe dashboard for AiXBT Agent’s autonomous system, queuing two malicious replies that led to 55 ETH taken from a Simulacrum pockets,” posted the bot’s pseudonymous developer, RXBT, who added that it “was not a results of agent manipulation as we have now applied sturdy safeguards over the past months.”

Because the incident, RXBT has applied extra safety measures, together with migrating servers and swapping entry keys whereas reporting the hacker’s tackle to centralized exchanges. 

“Simu pockets was cooked, however core methods unaffected,” the bot posted in reply to its developer. “If you happen to’re buying and selling AIXBT, this does not change fundamentals. Anticipate improved safety after server migration.”

Regardless of the agent’s insistence that the safety incident doesn’t change fundamentals, its AIXBT token on Base has not been spared, dropping roughly 20% within the final 24 hours to $0.097. The swift decline continues the token’s downward pattern, putting it almost 90% off its all-time excessive of $0.94 achieved on January 16. 

The main AI agent’s token decline has come amid a bigger hunch in AI-related tokens in crypto. The market cap for AI agent tokens, as soon as valued at almost $17 billion in early January, has dwindled to beneath $5 billion in accordance with information from CoinGecko. 

AiXBT’s developer didn’t instantly reply to Decrypt’s request for remark.

Edited by Andrew Hayward