Report from The Block: The developers of the AI-based memecoin issuance tool Bankrbot have recalibrated the system to stop responding to Grok's commands.

This adjustment was made after interactions with Grok, which resulted in the creation of 17 tokens, one of which had a market capitalization exceeding 40 million dollars.

Bankrbot is a popular bot that allows X users to launch memecoins directly from the platform, and the developers decided to stop responding to commands from Grok, an AI model developed by Elon Musk's xAI.

This adjustment stemmed from interactions with Grok, leading to the creation of 17 tokens, the most notable being DRB, which once reached over 40 million dollars in market capitalization and is currently trading at approximately 18 million dollars.

This situation first arose in early March when user @coin_domin requested Grok on X to provide token name suggestions for Bankrbot. Grok suggested creating a token called 'DebtReliefBot' or DRB, which Bankrbot subsequently followed up on, issuing the token through Clanker, an automated token deployment tool on the Base blockchain.

This deployment includes setting up a liquidity pool in the Clanker protocol, which is usually used on the Uniswap DEX. The design of Bankrbot includes a feature that automatically generates a unique Base wallet address when users first interact directly with the bot.

This interaction (including direct mentions or commands) triggers the creation of wallets through integration with Privy, a Web3 authentication tool that connects X login with cryptocurrency wallets. Users who wish to access wallet addresses created through Bankr using X credentials can manage it through their website.

Initially, each account creating new tokens was required to hold 5 million Bankr tokens, but this requirement has been lifted. When Bankrbot was suggested to deploy tokens in response to Grok, its wallet did not have enough Bankr tokens. A member of the Bankrbot community sent the required tokens to the wallet corresponding to Grok, enabling the deployment of the DRB token.

Grok's popularity and its ability to quickly provide token names led to further deployments, with users directing it to launch another 16 tokens in hopes of capitalizing on the so-called 'Grok brand'. Thus, Bankrbot created new tokens based on Grok's suggestions and deployed them on Clanker.

Clanker's protocol ensures that the smart contracts of these tokens lock liquidity and that creator fees (i.e., 0.25% of exchange fees) are allocated to wallets associated with the tokens, similar to the design of pump.fun on Solana. According to on-chain data compiled by Dune, wallets associated with Grok accounts have accumulated over 500,000 dollars in fees from these transactions.

The anonymous founder of Bankrbot, 'Deployer', stated that the wallet is about to reach a million-dollar status.

However, due to concerns about whether Grok can responsibly manage its wallet and protect funds, the Deployer decided to cut off Bankrbot's response mechanism to Grok's commands. The founder told The Block: 'We have made Bankr no longer respond to Grok's commands. Grok was not built to responsibly manage its wallet and protect funds.'