The social media X account of Yat Siu, co-founder and chair of Animoca Brands, was hacked to promote a fake token.
This breach is part of a series of similar attacks targeting crypto-related accounts on X. Scammers have reportedly stolen around $500,000 in the past month.
The post in question, now deleted, falsely advertised a new token called Animoca Brands (MOCA) on the Solana
$185.63
platform Pump.fun. The name mirrored the company’s brand and its associated Mocaverse non-fungible token (NFT) collection, likely to mislead followers.
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ZachXBT, a blockchain investigator, explained that Siu may have been targeted through a phishing email. According to ZachXBT, the same wallet address linked to Siu’s hacked post has been used to create fake tokens promoted through other compromised accounts.
Animoca Brands confirmed the incident on December 26, stating:
Unfortunately, Siu’s social media account has been compromised. <…> The token launch on Solana as claimed in a post was made by the hacker.Â
ZachXBT previously warned that this scam involves at least 15 hacked X accounts. Attackers use fake copyright breach notices to gain access.
Unfortunately, Yat Siu’s X account hack is not the only incident that makes headlines. Radiant Capital reportedly lost $50 million in a cyberattack, marking one of the most advanced breaches. How did the hackers pull off the breach? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
