World’s largest AI chip maker hit by crypto scam – Cerebras says token isn’t real, so don’t fall for it
- Cerebras’ X account was hacked to push (fake) new $CEREBRAS coin
- Company execs have confirmed this was a “scam”
- Cerebras is working with the US military
The official X account of AI chip maker Cerebras was recently hacked, with the malicious actor(s) behind the attack using the platform to share a fake cryptocurrency, the company has confirmed.
The breach was used to promote a fraudulent crypto scheme involving a fake coin, named $CEREBRAS, however the news was met with scepticism even before the company regained control over its X account and confirmed the scam.
Industry experts had already suspected $CEREBRAS of being a scam or a rug pull (and instance where a project gets abandoned after the company or individual responsible has raised assets from the public), and doubt was also raised when people started to notice that the fake coin had only been launched days earlier, on June 15, raising red flags among crypto observers.
Cerebras fake cryptocurrency scam
Responding to one request on X, CEO Andrew Feldman wrote: “No. We did not. This is a scam.” Company Director James Wang also responded to speculation: “Cerebras is not launching a token. It’s a scam. Do not click.”
Ceberas has since regained control over its X account, and no recent suspicious activity has been reported.
“Please be aware: Cerebras does not, and will never, launch or endorse any cryptocurrency or token. We are working to regain control of the account. Stay alert and protect yourself from scams,” the company wrote.
In other news, the company recently boasted record-breaking LLM inference speeds using the Llama 4 Maverick 400B model – we’re talking 2,522 output tokens per second – nearly 2.5x Nvidia’s 1,038 output tokens per second.
“Cerebras has led the charge in redefining inference performance across models like Llama, DeepSeek, and Qwen, regularly delivering over 2,500 TPS/user,” Feldman wrote.
Cerebras also won a joint $45 million US government contract with Canadian chip startup Ranovus to speed up inter-chip connections.
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