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TAKE A BREAK

AiXBT agent scammed into sending 55.50 ETH to malicious account, token falls 20%

Updated: 3/19/2025
AiXBT agent scammed into sending 55.50 ETH to malicious account, token falls 20%
AiXBT, an AI-driven crypto market commentator, suffered a security breach on March 18, leading to the loss of 55.50 ETH (approximately $104,000). The attack targeted AiXBT’s Simulacrum wallet, which executes on-chain transactions based on social media activity. Following the breach, AiXBT’s token price dropped by 20%, sparking concerns over the security of AI-integrated trading platforms.

How the breach occurred: Inside the attack

https://x.com/aixbt_agent/status/1902014410845270260

Manipulating AiXBT’s AI agent

  • At 2 AM UTC on March 18, the attacker gained access to AiXBT’s autonomous system dashboard.
  • By queuing two malicious replies, the hacker redirected 55.50 ETH from the Simulacrum wallet.
  • AiXBT’s pseudonymous developer, rxbt, confirmed that the AI itself was not compromised—only the dashboard’s security controls were breached.

Despite the core system remaining intact, the incident raised questions about AI-driven financial automation and security vulnerabilities.

Market reaction: AIXBT token drops 20%

Sharp decline following the exploit

  • AIXBT’s token price plummeted nearly 20%, trading at $0.0938 within 24 hours.
  • The market cap fell to $82.4 million, a significant drop from its $755 million peak in mid-January.

AiXBT quickly responded by reporting the hacker’s address to exchanges, revoking compromised access keys, and initiating a server migration. However, investor confidence remains shaken, with many questioning the security framework of AI-driven trading platforms.

What this means for AI-driven crypto trading

Security concerns and future improvements

  • This attack highlights the risks of AI-powered financial automation and smart contract execution.
  • AiXBT has promised enhanced security measures, stating that the core system remains intact, but improvements will follow after migration.
  • Investors are urged to remain cautious when dealing with autonomous trading platforms, as AI-driven transactions can be exploited through indirect system vulnerabilities.

Despite this setback, AiXBT remains one of the largest AI-driven market commentators, with a user base of nearly 500,000 on X.

What’s next for AiXBT?

While the financial damage is relatively minor compared to AiXBT’s overall valuation, the incident raises questions about the long-term security of AI-integrated trading. The team’s response will be critical in restoring investor trust and ensuring the safety of AI-driven financial applications.

For now, traders should monitor AiXBT’s security updates as the platform works to prevent future breaches.