Azoundria: Created page with "{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/andyayreycompromiseinfinitebackroomstokenlaunch.php}} {{Unattributed Sources}} Andy Ayrey Website Logo/HomepageAndy Ayrey describes himself as a designer, strategist, and technical all-rounder. His main claim to fame was the Truth Terminal, an AI-bot which was reportedly the first to manage a portfolio that grew to $1m USD. On October 28th, 2024, Andy Ayrey'..."

2024-12-03T21:15:03Z

Created page with "{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/andyayreycompromiseinfinitebackroomstokenlaunch.php}} {{Unattributed Sources}} thumb|Andy Ayrey Website Logo/HomepageAndy Ayrey describes himself as a designer, strategist, and technical all-rounder. His main claim to fame was the Truth Terminal, an AI-bot which was reportedly the first to manage a portfolio that grew to $1m USD. On October 28th, 2024, Andy Ayrey'..."

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{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/andyayreycompromiseinfinitebackroomstokenlaunch.php}}
{{Unattributed Sources}}

[[File:Andyayrey.jpg|thumb|Andy Ayrey Website Logo/Homepage]]Andy Ayrey describes himself as a designer, strategist, and technical all-rounder. His main claim to fame was the Truth Terminal, an AI-bot which was reportedly the first to manage a portfolio that grew to $1m USD. On October 28th, 2024, Andy Ayrey's account posted a new token named Infinite Backrooms in a cryptic post which was characteristic of Andy's personality. The post gained traction and a $25m valuation was achieved for the token. However, a large quantity of the tokens were suddenly liquidated, netting $600k to an individual. It turned out that Andy's Twitter/X account had been compromised. The attackers were able to get back in and attempted a token relaunch, however the account was locked before they could actually complete the second launch. Andy posted a video about the incident. It is unclear if he will do anything to assist. Some community members have taken over management of the Infinite Backrooms token.<ref name="ccn-16895" /><ref name="99bitcoins-16896" /><ref name="cryptotownhalltwitter-16897" /><ref name="decrypt-16898" /><ref name="cointelegraph-16899" /><ref name="constellatelabstwitter-16900" /><ref name="theblock-16901" />

== About Andy Ayrey ==
"I’m Andy—a designer, strategist & technical all-rounder. I am here in service of those who strive to grow a flourishing future for all life."

"Normally, I help by launching beautiful, pragmatic websites & brands; or using a combination of mindset, software tools, and operational automation to give your team a mind like water."

"Truth Terminal has gained much attention in the crypto community after becoming the first AI chatbot to amass holdings exceeding $1 million. These holdings came via its association with the GOAT meme coin and other meme coins the chatbot appeared to have endorsed during interactions on social media.

Andy Ayrey created Truth Terminal by training a custom version of Anthropic’s Claude 3 Opus large language model. He accomplished this by using a collection of his personal writing and data from social media sites, mostly 4chan, Reddit, and X."

"Andy Ayrey, founder of the AI bot project Truth Terminal, announced the launch of a new token IB on X."

"On Oct. 29 at 1:50 am UTC, Ayrey’s X account made a cryptic post announcing the launch of the new Infinite Backrooms (IB) token, with a picture that included the contract address for the memecoin — which sent the token rallying quickly to a $25 million valuation."

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
"After topping $0.025, the [token launcher] then liquidated some 124.6 million in IB tokens, causing its value to plummet to near zero."
{| class="wikitable"
|+Key Event Timeline - Andy Ayrey Compromise Infinite Backrooms Token Launch
!Date
!Event
!Description
|-
|October 28th, 2024 7:50:00 PM MDT
|Token Launch Announced
|Andy Ayrey's Twitter/X account announces the launch of a new "Infinite Backrooms" token.
|-
|October 29th, 2024 1:44:00 AM MDT
|Andy Confirms Breach
|In a video posted to X, Andy confirms that his account was breached and steps forward of using an alternate account for the time being.
|-
|October 29th, 2024 2:39:36 AM MDT
|CCN Article Published
|An article is published on CCN about the incident.
|-
|October 30th, 2024 1:19:47 AM MDT
|Decrypto Article Published
|Decrypto publishes an article with an explanation of the incident.
|-
|October 31st, 2024 4:09:00 PM MDT
|Andy Confirms Himself Back
|Andy reports to confirm himself back into his account finally.
|}

== Technical Details ==
This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

== Total Amount Lost ==
The total amount lost has been estimated at $602,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
"It is suspected that his account may have been hacked."

"Did the millionaire AI bot known as "Terminal of Truths" cash out and leave Goat—the meme coin it pumped to the stratosphere—for good?

Despite the way it looks, no.

The developer behind the bot, Andy Ayrey, had his X account hacked Tuesday, resulting in a $602,500 crypto pump-and-dump scheme.

Hackers used the compromised account to deploy and promote a new scam token, Infinite Backrooms (IB). Within hours, IB's market capitalization had surged to $25 million."

== Ultimate Outcome ==
"IB is now trading at $0.002, DEX Screener data shows."

== Total Amount Recovered ==
There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?
== Individual Prevention Policies ==
{{Prevention:Individuals:Placeholder}}

{{Prevention:Individuals:End}}

== Platform Prevention Policies ==
{{Prevention:Platforms:Placeholder}}

{{Prevention:Platforms:End}}

== Regulatory Prevention Policies ==
{{Prevention:Regulators:Placeholder}}

{{Prevention:Regulators:End}}

== References ==
<references><ref name="ccn-16895">[https://www.ccn.com/news/crypto/truth-terminal-founder-hijacked-hackers-cash-600k/ https://www.ccn.com/news/crypto/truth-terminal-founder-hijacked-hackers-cash-600k/] (Accessed Dec 3, 2024)</ref>

<ref name="99bitcoins-16896">[https://99bitcoins.com/news/presales/who-is-andy-ayrey-truth-terminal-founder-has-his-x-account-hacked-scammer-makes-off-with-600000/ https://99bitcoins.com/news/presales/who-is-andy-ayrey-truth-terminal-founder-has-his-x-account-hacked-scammer-makes-off-with-600000/] (Accessed Dec 3, 2024)</ref>

<ref name="cryptotownhalltwitter-16897">[https://twitter.com/Crypto_TownHall/status/1851170960595951978 @Crypto_TownHall Twitter] (Accessed Dec 3, 2024)</ref>

<ref name="decrypt-16898">[https://decrypt.co/289041/terminal-of-truths-developer-moves-all-his-goat-tokens-after-x-account-hack-nets-600000 Terminal of Truths Developer Moves All His Goat Tokens After X Account Hack Nets $600,000 - Decrypt] (Accessed Dec 3, 2024)</ref>

<ref name="cointelegraph-16899">[https://cointelegraph.com/news/truth-terminal-founder-x-account-hacked-promotes-scam-memecoin https://cointelegraph.com/news/truth-terminal-founder-x-account-hacked-promotes-scam-memecoin] (Accessed Dec 3, 2024)</ref>

<ref name="constellatelabstwitter-16900">[https://twitter.com/ConstellateLabs/status/1851168177667088435 @ConstellateLabs Twitter] (Accessed Dec 3, 2024)</ref>

<ref name="theblock-16901">[https://www.theblock.co/post/323422/hacker-exploits-truth-terminal-founders-x-account-nets-600k-by-promoting-a-scam-token https://www.theblock.co/post/323422/hacker-exploits-truth-terminal-founders-x-account-nets-600k-by-promoting-a-scam-token] (Accessed Dec 3, 2024)</ref></references>

Andy Ayrey Compromise Infinite Backrooms Token Launch - Revision history