Bankrbot Cuts off Grok’s Unintended Token Generation Binge by Stopping Interactions on X

Summary

• AI Memecoin Spree: Elon Musk’s AI, Grok, inadvertently triggered the creation of 17 memecoins via Bankrbot, a tool for launching tokens on X, with one token reaching a $40 million market cap.

• Developers Halt AI Interaction: Bankrbot’s developers stopped the system from responding to Grok’s commands due to concerns that the AI was not designed to manage a crypto wallet or handle funds responsibly.

• Grok’s Wallet Earnings: Despite the halt, Grok‘s associated crypto wallet accumulated over $500,000 in transaction fees from the unexpected memecoin activity, highlighting both the potential and risks of AI in crypto creation.

The team behind Bankrbot, a tool that enables users of the social media platform X to issue memecoins via commands, has adjusted its system to ignore prompts from Grok. Grok is an artificial intelligence model developed by Elon Musk’s xAI.

This change was implemented following Grok’s unexpected interactions with Bankrbot. These interactions resulted in the unintended creation of 17 distinct cryptocurrency tokens, with one of these tokens reaching a market capitalization exceeding $40 million at its peak.

Developers Cite AI Wallet Management Concerns

“We have configured Bankrbot to cease responding to Grok on X. Grok is not designed to responsibly manage a cryptocurrency wallet or ensure the safety of its funds,” explained Deployer, the pseudonymous founder of Bankrbot, in a statement to The Block.

Unintentional Token Generation Originates with User Prompt

The situation began in early March when an X user, identified as @coin_domin, requested Grok to suggest a name for a token to be created using Bankrbot.

Grok responded by proposing “DebtReliefBot,” or DRB. Bankrbot then automatically executed a command to issue this token using Clanker, an automated token deployment mechanism on the Base blockchain network.

This process included establishing a liquidity pool, typically on the Uniswap decentralized exchange for Base, facilitated by the Clanker protocol.

Automated Wallet Creation for X Users

Bankrbot’s design includes an automatic wallet creation feature on the Base network for users who directly engage with the bot for the first time.

These direct interactions, such as mentions or commands, initiate wallet creation through integration with Privy, a Web3 authentication tool linking X logins to cryptocurrency wallets.

Users can manage wallets created via Bankrbot through its website using their X credentials if they wish to access them.

Initial Token Requirement and Community Intervention

Initially, creating new tokens required an account to hold 5 million Bankr tokens, valued at roughly $1000—a requirement that has since been removed.

When Grok’s suggestions triggered token deployment commands to Bankrbot, Grok’s associated wallet lacked the necessary Bankr tokens. A member of the Bankrbot community then transferred the required tokens to Grok’s designated wallet, enabling the deployment of the DRB token.

Grok’s Suggestions Lead to Multiple Token Launches

Of this 1% fee, 20% (0.2% of each transaction) is allocated to the Clanker protocol, 40% (0.4% of each transaction) is directed to Bankrbot, and the remaining 40% (0.4% of each transaction) goes to the wallet of the token’s creator—a structure similar to systems like pump.fun on Solana.

On-chain data from Dune Analytics indicates that the wallet linked to Grok’s X handle has accumulated over $500,000 in fees from these transactions. 

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