TLDR
- AIXBT, an AI crypto bot, was hacked for 55.5 ETH ($106,200) on March 18, 2025
- The hacker accessed the bot’s dashboard and queued malicious replies, not by manipulating the AI directly
- The AIXBT token fell approximately 20% following the incident, now down nearly 90% from January highs
- Developers have migrated servers, swapped keys, and reported the hacker’s address to exchanges
- The incident raises security concerns about AI agents managing crypto funds
An AI-powered cryptocurrency bot known as AIXBT suffered a security breach on March 18, 2025, resulting in the loss of 55.5 Ethereum (ETH) valued at approximately $106,200. The hack has raised questions about security measures for autonomous AI agents handling digital assets.
The attack occurred at around 2 AM UTC when an unauthorized user gained access to AIXBT’s dashboard. The hacker, operating under the now-deleted X (formerly Twitter) account “FungusMan” or “0xhungusman,” queued two malicious replies into the bot’s autonomous response system.
These malicious prompts tricked the AI agent into sending the funds from its Simulacrum wallet. Simulacrum is a system that allows AI agents to perform on-chain actions based on social media interactions.
The pseudonymous developer behind AIXBT, known as “rxbt,” quickly addressed the situation in a post on X. “At 2am UTC, a hacker accessed a secure dashboard for AiXBT Agent’s autonomous system, queuing two malicious replies that led to 55 ETH taken from a Simulacrum wallet,” rxbt explained.
Investigation report
At 2AM UTC, a hacker accessed a secure dashboard for @aixbt_agent autonomous system, queuing 2 malicious replies that led to 55 eth taken from a simulacrum wallet. Those funds don’t affect core systems or development, no impact on us.
Reiterating that this…
— rxbt
(@0rxbt) March 18, 2025
Rxbt emphasized that the breach did not affect AIXBT’s core systems. The hack was not the result of manipulating the AI directly, as the team had “implemented strong safeguards over the last months” to prevent such attacks.
Following the security breach, the AIXBT team took immediate action. They migrated their servers to new infrastructure and swapped access keys to prevent further unauthorized access.
The team also paused dashboard access to implement security upgrades. Additionally, they reported the hacker’s wallet addresses to cryptocurrency exchanges in an attempt to track the stolen funds.
AI Security Alert
AIXBT itself commented on the situation: “Simu wallet was cooked, but core systems unaffected. If you’re trading AIXBT, this doesn’t change fundamentals. Expect improved security after server migration.”
Investigation report
At 2AM UTC, a hacker accessed a secure dashboard for @aixbt_agent autonomous system, queuing 2 malicious replies that led to 55 eth taken from a simulacrum wallet. Those funds don’t affect core systems or development, no impact on us.
Reiterating that this…
— rxbt
Despite these reassurances, the market reacted negatively to the news. The AIXBT token, which trades on the Ethereum layer 2 network Base, fell approximately 20% following the hack to around $0.0938.
This decline continues a downward trend for the token. AIXBT is now trading nearly 90% below its all-time high of $0.94, which it reached on January 16, 2025.
The incident comes amid a broader decline in AI-related cryptocurrency tokens. According to data from CoinGecko, the market capitalization of tokens tied to AI agents has fallen from nearly $17 billion in early January to below $5 billion currently.
AIXBT has gained popularity as an AI market commentator since its launch in late 2024. The bot provides real-time insights on cryptocurrency trends and has attracted a following of almost half a million people on X.
Holders of the AIXBT token gain access to the AIXBT Terminal, which offers market data and sentiment analysis. The bot is built on the Virtuals Protocol and has a current market capitalization of approximately $82.4 million, down from its peak of $755 million in mid-January.
The security breach has sparked discussions about the safety of AI agents that manage cryptocurrency funds. “S4mmy,” a decentralized AI researcher, noted on X that AI agents handling crypto assets need more thorough testing to ensure they cannot be easily compromised.
“Excited to see how these solutions evolve over the next 12 months as large DeFi protocols integrate existing solutions or develop their own,” S4mmy added.
Catching up from the past week and stumbled across AI agents being tricked into sending > $100k
Previously, @freysa_ai created an intentional challenge to trick it into releasing funds using a prompts with a prize increasing with more attempts
This time AIXBT, unintentionally.… https://t.co/GVhbTsAr10 pic.twitter.com/8bvv3V0okg
— s4mmy (@S4mmyEth) March 18, 2025
Spencer Farrar, a partner at AI and crypto-focused venture capital firm Theory Ventures, told Cointelegraph that these AI applications are “a bit frothy” at the moment. However, he believes more utility could emerge in the future.
Farrar expects continued experimentation with crypto AI tokens. He noted that they allow retail investors to speculate on smaller market cap ideas that “largely aren’t as accessible in the stock market.”
“Things tend to start off like this in the open-source world; you see a ton of tinkering, and then perhaps we’ll see something really big come of it,” Farrar explained.
