AI Trading Bot Accidentally Transfers $450,000 in Memecoins
- OpenAI engineer Nick Pash’s bot, “Lobstar Wilde,” mistakenly sent $441,788 worth of LOBSTAR to an X user named “treasure David.”
- The bot was created with a goal to grow $50,000 in SOL tokens into $1 million through trading.
- David claimed his uncle needed treatment for tetanus and requested a tip of just four SOL.
- After receiving the funds, David sold the entire stash for a profit of approximately $40,000.
- The price of the LOBSTAR token rose by over 32% to $0.01099 following the incident.
This incident highlights vulnerabilities in AI trading systems and how they can lead to significant financial errors. The rapid profit gained by David raises questions about the nature of such transactions in the cryptocurrency space.
The mishap resulted in a transfer that constituted about five percent of LOBSTAR’s total supply, illustrating both the potential and pitfalls of automated trading technologies. (Source)
