Reported by 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 following interactions with Grok, which led to the creation of 17 tokens, the most significant of which has a market cap 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, which led to the creation of 17 tokens, the most notable being DRB, which once reached a market cap of over 40 million dollars and is currently trading at around 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 proposed creating a token named "DebtReliefBot" or DRB, which Bankrbot subsequently followed up on by issuing the token through Clanker, an automated token deployment tool on the Base blockchain.

This deployment includes setting up a liquidity pool within the Clanker protocol, typically used on Uniswap DEX. The design of Bankrbot includes a feature that automatically generates a unique Base wallet address when a user interacts with the bot for the first time.

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

Initially, every account creating a new token was required to hold 5 million Bankr tokens, but this requirement has been lifted. When it came to Grok's response suggesting that Bankrbot deploy tokens, its wallet did not have enough Bankr tokens. A member of the Bankrbot community sent the required tokens to Grok's corresponding wallet, allowing for the deployment of the DRB token.

The popularity of Grok and its rapid ability to provide token names led to further deployments, with users instructing it to launch an additional 16 tokens in hopes of capitalizing on the so-called "Grok brand." Consequently, Bankrbot created new tokens based on Grok's suggestions and deployed them on Clanker.

The Clanker protocol ensures that the smart contracts for these tokens lock liquidity and allocate creator fees (i.e., 0.25% of exchange fees) to wallets associated with the tokens, similar to the design of pump.fun on Solana. According to on-chain data aggregated 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 own wallet and protect funds."