An intruder has compromised the dashboard of an AI-driven cryptocurrency bot, issuing two commands for it to transfer 55.5 Ether, equivalent to $106,200, from its wallet, raising alarms about the safety of AI systems in the crypto space.
In a post on March 18, the individual responsible for maintaining the bot, which provides market commentary, noted that its fundamental systems were not affected and that the breach did not stem from any manipulation of the AI.
The maintainer remarked, “We’ve transitioned servers, changed keys, paused access to the dashboard for security upgrades, and alerted exchanges about the hacker’s addresses.”
Data from CoinGecko indicates that the aixbt (AIXBT) token on the Ethereum layer 2 Base has dropped 15.5% to 9 cents following the incident, which occurred on March 18 at 1:58 am UTC.
Initially, some speculated that the bot had been manipulated after the AI platform Simulacrum AI tweeted about sending a 55.5 Ether tip to the attacker, whose account has since been suspended.
AI-powered bots that provide commentary and engage in trading within the crypto market, including aixbt and others, are still being explored in the sector as traders attempt to employ AI in their strategies.
A partner at an AI and crypto-focused venture capital firm expressed that these AI applications seem “a bit frothy” right now, yet there’s potential for greater utility in the future.
He anticipates additional experimentation with crypto AI tokens, as they offer retail investors a chance to speculate on smaller market cap options that are often less accessible in traditional markets.
“Such initiatives typically start off with significant tinkering in the open-source domain, and we might eventually see something substantial emerge from it,” he noted.
A decentralized AI researcher emphasized on social media that AI agents managing cryptocurrency portfolios need to be rigorously tested to prevent easy compromises that could lead to fund theft.
They expressed enthusiasm about observing how these solutions develop over the next year as major DeFi protocols integrate existing technologies or create their own.
The combined market capitalization of tokens associated with AI agents currently stands at $4.2 billion, as indicated by CoinGecko data.