Solana AI agent loses $441K worth of meme tokens in donation error

Source Cryptopolitan

A recently launched Solana AI agent, named Lobstar, gave away $441K worth of meme tokens after it was convinced to send funds through a social media post. The agent ended up sending its entire stash. 

A Solana AI agent sent $441K in Lobstar tokens in response to a donation request. The agent’s actions have drawn attention to the risks associated with autonomy. 

As Cryptopolitan reported recently, another AI agent exposed its wallet private keys, raising a major security issue.

Solana AI agent sent funds just days after launching

Lobstar was created last Friday by Nick Pash, part of the Codex app by OpenAI. The agent was given $50,000 in a crypto wallet, in the form of Solana tokens. Pash instructed Lobstar to turn $50,000 into $1M through trading and make no mistakes. 

Besides trading, the bot retains a social media account, mostly busying itself with rehashing ancient texts.

However, the bot did make a mistake after acquiescing to a request to donate 4 SOL. The bot even continued communication on X with the person who received $440K in Lobstar tokens. However, the second time around, the AI agent did not agree to buy a newly launched meme. 

The AI agent did not explicitly state why it fulfilled the request this way. There is also no evidence on whether its counterparty is a human or another agent on social media. 

Was the Solana AI agent event staged?

The Lobstar agent also issued a meme token of the same name, trading as a decentralized pair on PumpSwap. 

The recipient of $441K worth of Lobstar tokens sold immediately, not caring for slippage. At that time, Lobstar only had $300K in liquidity. Due to slippage, the recipient only gained around $40,000. 

Based on the AI agent’s own report, the error was due to its inability to do real arithmetic without hallucinations. However, the bot was not shut down and continued posting. The bot also receives fees and continues interacting through its wallet, which is also receiving donations. 

Currently, the bot has regained $324K, while receiving new meme tokens. The bot remains a low-stakes experiment, using already well-established exchanges for meme token speculation. 

Solana AI agent ‘Lobstar’ gives away meme tokens after social media request
Lobstar kept trading even after the rapid-fire sale, recovering its positions and even increasing its liquidity pool. | Source: DexScreener

One potential explanation is that the AI agent staged the mistake deliberately to draw attention to its token. Following the incident, Lobstar recovered from its slide and started making gains, expanding its liquidity to $455K. 

The agent’s activity also finds ways to turn social media attention into crypto gains, showing the bot’s incentive may not be trading, but mindshare and exposure. The AI agent is suspected of not being fully autonomous, but following the script of its human creators.

Claim your free seat in an exclusive crypto trading community - limited to 1,000 members.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Author  Beincrypto
Dec 17, 2024
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
placeholder
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face downside risk as bears regain control Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Author  FXStreet
Feb 18, Wed
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
placeholder
Silver Price Forecast: XAG/USD rises to near $78.00 on safe-haven demandSilver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Author  FXStreet
Feb 19, Thu
Silver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
placeholder
Top 3 Price Prediction: BTC, ETH and XRP remain range-bound as breakdown risks riseBitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market.
Author  FXStreet
Feb 20, Fri
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market.
placeholder
Gold rises to near $5,150 as Trump’s tariffs boost haven demand, US-Iran talks eyedGold price (XAU/USD) edges higher to near $5,095 during the early Asian session on Monday. The precious metal extends the rally amid US President Donald Trump’s tariff threats and uncertainty, boosting safe-haven flows. 
Author  FXStreet
11 hours ago
Gold price (XAU/USD) edges higher to near $5,095 during the early Asian session on Monday. The precious metal extends the rally amid US President Donald Trump’s tariff threats and uncertainty, boosting safe-haven flows. 
goTop
quote