The developers of Bankrbot, a popular memecoin launchpad, have blocked commands from Grok, an AI model created by Elon Musk’s xAI as cited by The Leviathan News. This decision has been taken after Grok unintentionally generated 17 tokens, which includes DebtReliefBot (DRB). This DRB token reached a market capitalization of $40 million before declining to approximately $18 million.
Bankrbot Creates DRB Token on Grok’s Command
The situation unfolded itself when a user prompted Grok for a token name, and the AI suggested DRB. The token was then deployed using Clanker tool, which is becoming one of the widely used tool for launching memecoins, on Base blockchain. The token was deployed completely with liquidity setup on Uniswap and wallet creation through Privy.
DRB quickly gained traction and its market capitalization surged 300 times within days.
However, this did stop with DRB. The AI also asked the bot to create 16 additional tokens as users wanted to leverage its branding potential. These tokens generated substantial revenue, with wallets associated with Grok reportedly amassing over $500,000 through swap transactions.
Concerns Raised
Concerns were raised when a community member exploited Grok’s wallet mechanisms to claim fess and transfer funds inappropriately.
In response, Bankrbot’s founder, Deployer, emphasized that Grok was not designed for secure wallet management or fund protection. To prevent any further complications, the decision was made block Grok’s commands.
This incident highlights the complex interplay between AI and blockchain technologies in decentralized finance, showcasing both opportunities and risks.
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