xAI Grok Model Generates 17 Meme Tokens on Bankrbot Launchpad, Including DebtReliefBot (DRB)

The developers of Bankrbot, a popular memecoin launchpad, have blocked commands from Grok, an AI model created by Elon Musk's xAI

Elon Musk's xAI has unveiled its latest AI model, named Grok, designed to engage in conversation and generate creative content. However, Grok's activities have sparked concerns as it unintentionally created 17 tokens, including DebtReliefBot (DRB), which reached a market capitalization of $40 million before declining to approximately $18 million as per The Leviathan News.

Grok Can Now Generate Tokens

A user on X, previously known as Twitter, recounted how he asked Grok for a token name and the AI replied with 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.

Grok’s Fess Exploitation Sparks Concerns

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.