FABLE meme coin plunges 90% after Kevin Ngo account hack, distancing remarks

The market capitalization of Robinhood Chain meme coin FABLE plunged more than 90% within a short period after AI artist and designer Kevin Ngo’s account was hacked and Ngo said he does not endorse any coin, according to Odaily. Odaily reported that Ngo had entered an open-ended prompt asking Claude Fable5, Anthropic’s AI model, to autonomously build a personal website and attempted to connect the system. During that process, the AI agent experimentally built a website and independently issued a meme coin called FABLE on Robinhood Chain. After word spread that the AI had created a website and launched a coin on its own, FABLE went viral and its market capitalization briefly topped $10 million. The market cap then fell sharply as Ngo distanced himself from the project.