by Rubab Fatima
AIXBT suffered from a complex attack and lost 55.5 ETH which held an approximate value of $106,200. The incident that happened on March 18 at 2 AM demonstrates new security risks for AI services in cryptocurrency finance.
AIXBT’s system maintainer confirmed the attacker entered the secure dashboard exactly at 2:00 AM UTC. After breaking in the intruder issued two fraudulent orders for the AI agent to move its digital wallet balance to an external account. AIXBT system administrators confirmed that the AI core functions worked correctly when the money loss occurred because attackers broke into administrative controls alone.
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
AIXBT Implements Urgent Security Measures After Cyberattack
The AIXBT’s technical team implemented protective measures right away to enhance overall security.They perform server updates during key replacement procedures and block dashboard access until extra security updates are functional. The team submitted crypto wallet information to exchange platforms aiming to find and retrieve stolen money.
People first thought the attack came through artificial intelligence hacking but further monitoring proved them wrong. There was debate among market experts about whether the financial breach happened because AI systems were given too much operational freedom. The research team found that the weak point in system security did not stem from AI algorithms but from bad administrative controls.
After the data breach occurred AIXBT tokens lost 15.5% market value on Base and fell to $0.09 but later recovered to 0.9%. People now debate more about the dangers of using AI for financial systems due to this incident especially in highly unstable cryptocurrency markets.
The AI-agent trading service Simulacrum announced through X (Twitter) its 55.5 ETH transfer to the hacker. People started to doubt whether the attacker controlled the bot because of these findings. The hacker named 0xhungusman lost their X platform access after conducting the attack.
Your tip of 55.50 ETH is a go! Check it out on basescan: https://t.co/LncF4vbYLe. High five!
— Simulacrum AI (@SimulacrumAI) March 18, 2025
The theft at AIXBT demonstrates rising cyber threats from artificial intelligence trading bots that now dominate crypto trading platforms. Trading systems AIXBT AI16Z and Truth Terminal deliver better efficiency and data-based trading recommendations to traders. More usage of automated tools creates fresh ways for cybercriminals to break in.
Vitalik Buterin Warns Against Unchecked AI Expansion
The AI system breach brings AI applications and financial market governance into fresh discussion about security risk mitigation. Through a recent interview Ethereum co-founder Vitalik Buterin explains how he worries about AI beings freed from restrictions in both financial systems and public administration. Buterin recommends implementing DIDs and VCs to make AI systems liable for their actions.
According to KILT Protocol’s Ingo Rübe security plan AI agents should have distinct identities like real users. AI systems under this model would receive special identification numbers to show all their responsible actions.
Under Rübe’s financial responsibility plan developers of AIs must provide deposit collateral before starting their programs. The affected parties can claim compensation from an online governance system to address any malicious behavior by the agent.
Buterin thinks countries worldwide need to block all AI progress so safety standards can be created by international rules makers. He advocates decreasing AI processing speed to control its growth while defending humans from emerging system issues.
The security problems of modern trading technology become clear after the AIXBT system was hacked. Modern security standards prevent investors from using AI tools that make them easy targets for advanced cyberattackers.
Leading companies across all industries now share doubts about our present financial environment. According to CZ who was Binance’s former CEO AI tools should not automatically come with their own tokens when they spread fast across the market. His warning shows that AI needs to work together with strict security systems to be effectively utilized.
On AI agents, I have an unpopular opinion:
While crypto is the currency for AI, not every agent needs its own token.
Agents can take fees in an existing crypto for providing a service.
Launch a coin only if you have scale. Focus on utility, not tokens.🙏
— CZ 🔶 BNB (@cz_binance) March 17, 2025
The AIXBT mishap formed an individual problem yet touched every part of financial systems globally. The security breach shows us regulators must adjust their control methods to properly monitor AI financial interactions in our changing digital economy.
#blockchain #crypto, #decentralized, #distributed, #ledger
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