Truth Terminal Creator Hacked: Solana Meme Coin GOAT Drops 34% in a Week

Earlier this week, Andy Ayrey, the creator behind the AI-driven cryptocurrency bot Truth Terminal, suffered a major hack. The breach, which allowed hackers to access Ayrey’s X (formerly Twitter) account, enabled them to orchestrate a pump-and-dump scheme that reportedly earned them over $600,000.

Hackers promoted a new meme coin through Ayrey’s account, inflating its value by luring in unsuspecting buyers before cashing out and leaving investors with significant losses.

The incident not only emptied Truth Terminal’s extensive portfolio of meme coins, valued in the millions, but also sent shockwaves through the meme coin market, most notably impacting the Solana-based token goatseus maximus (GOAT).

The breach was reportedly achieved through a SIM card swap, a social engineering tactic where attackers gain control of a victim’s phone number to reset passwords and access linked accounts.

With Ayrey’s account compromised, hackers exploited his established reputation to boost the new meme coin’s profile.

This incident illustrates the persistent security challenges in the cryptocurrency industry, particularly for digital assets like meme coins, which rely heavily on social media and speculative trading.

GOAT’s Market Impact and Price Drop

Following the hack, Truth Terminal’s meme coin goatseus maximus (GOAT) experienced a significant price decline as shaken investor confidence led to a sell-off.

GOAT has dropped 34.5% over the past week and 7.2% in the past 24 hours. Currently priced at $0.4686, the token has fallen 48.6% from its all-time high of $0.8788, reached just ten days prior on October 24.

Despite the steep drop, GOAT still remains 938.4% above its all-time low of $0.04354, recorded on October 13.

This sharp decline reflects broader vulnerabilities in meme coin markets, where investor sentiment is often fragile and heavily influenced by social media activity.

The hack has eroded confidence in GOAT, highlighting the financial risks tied to security breaches within the highly volatile meme coin sector.

The event has also raised questions about the stability of assets managed by AI-powered bots like Truth Terminal, which are subject to human error and targeted attacks.

Onchain Investigation Reveals Key Details

Prominent onchain investigator Zachxbt shared insights on the incident, identifying an FWOG whale—an influential holder of another meme coin—as potentially involved in the hack.

Zachxbt’s analysis revealed that wallet addresses linked to the hack funneled stolen assets to various accounts, suggesting coordinated efforts to cash out the gains.

This discovery indicates a likely connection among major meme coin players or opportunistic traders who took advantage of the bot’s compromised status.

Zachxbt’s findings have provided transparency on the incident, although they also underscore the risks faced by developers, even those with sophisticated AI tools.

The hack has shined a light on the darker side of the meme coin ecosystem, where whales and hackers can manipulate asset prices, creating financial fallout for average investors.

GOAT/USDT Price Forecast – Technical Outlook

GOAT’s technical landscape suggests a challenging road ahead. The current price of $0.4686 places the token in a consolidation phase, with key resistance levels indicating potential caps on upward movement.

Immediate resistance stands at $0.5140, with further levels at $0.5756 and $0.6573. On the downside, immediate support sits at $0.4223, with additional support at $0.3831 and $0.3468.

The Relative Strength Index (RSI) is at 36.83, suggesting oversold conditions that could trigger a rebound if buying pressure emerges. However, the 50-day Exponential Moving Average (EMA) at $0.5756 poses a significant resistance level, likely challenging any short-term recovery efforts.

Key Takeaways

• Impact on GOAT: The hack led to a 34.5% weekly drop in GOAT, highlighting meme coin vulnerability.
• Security Risks: The hack exposes security flaws in AI-managed assets, especially in speculative markets.
• Technical Levels: GOAT faces resistance at $0.5140 and key support at $0.4223, with RSI signaling oversold conditions.

The hack underscores the need for enhanced security in the crypto space, as investor trust in meme coins like GOAT hinges on safeguarding against breaches.