AiXBT Suffers security Breach, Loses $104,000 in ETH
On March 18, AiXBT, a well-known AI-driven crypto market commentator, experienced a security breach. The incident resulted in the loss of 55.50 ETH, equivalent to about $104,000.
The attacker gained access to AiXBT’s autonomous system dashboard. They tricked the AI agent into executing a transfer from the Simulacrum wallet. This wallet allows on-chain actions via social media posts. The hacker used a now-deleted X account named “FungusMan.”
rxbt, AiXBT’s pseudonymous developer, confirmed the attack.It happened at 2 AM UTC. The hacker queued two malicious replies, leading to the theft of 55 ETH. Though, rxbt stressed that the core systems remained unaffected.
AiXBT acknowledged the exploit, stating, “Simu wallet was cooked, but core systems unaffected.” They assured users that trading AIXBT remains safe. The team promised improved security after migrating servers.
Following the breach, AiXBT’s Base token value dropped by nearly 20% to $0.0938. The market cap is now $82.4 million, down from $755 million in mid-January.
The incident has raised concerns about security in AI-driven trading platforms. Though, the financial loss is a small fraction of AiXBT’s market cap. Built on the Virtuals Protocol, aixbt offers real-time crypto insights, attracting almost half a million followers on X.
