Animoca Brands Chairman’s X Account Hacked, Promoting Fake Token

by

As a seasoned crypto investor with years of experience navigating the volatile and sometimes treacherous waters of digital assets, I’ve learned to always stay vigilant and never let my guard down. The recent hacking incident involving Yat Siu, co-founder and executive chairman of Animoca Brands, is a stark reminder of the importance of security in this space.

According to reports, the personal account of Yat Siu, co-founder and executive chairman of Animoca Brands, appears to have been compromised to spread false information about a bogus token called ANIMOCA.

Animoca Brands’ verified X account acknowledged the occurrence and advised investors to avoid engaging with Yat Siu’s account.

Fake ANIMOCA Token Spikes 500% in Just 5 Minutes

Based on Kenta’s preliminary findings, it seems that a hacker managed to gain access to Yat Siu’s official X account, subsequently announcing that Animoca Brands was launching a primary token under their name. It looks like the hacker had previously created this token on the pump.fun platform.

In a matter of mere minutes, the inflated cost of the phony ANIMOCA token skyrocketed an astounding 500%. Yet, following the removal of the related post by the hacker, the price swiftly returned to its previous level.

Furthermore, Yat Siu disclosed the occurrence through a different profile. He declared that the assailant circumvented two-factor authentication (2FA) protection measures and reported the matter to X’s technical support. Additionally, Yat Siu promised to reveal knowledge about the event and underscore any security loopholes in X, based on this incident.

regretfully, Yat Siu’s social media profile has fallen into the wrong hands. It’s essential to note that there is no legitimate token or NFT release from Animoca Brands. The supposed token launch on Solana, as mentioned in a recent post, was actually carried out by the hacker. So, it’s advisable not to interact with the account and remain cautious instead. This message comes directly from Animoca Brands.

Animoca Brands stands out as one of the busiest investors in the Web3 sector, boasting a diverse portfolio of over 540 investments spread across companies like Yuga Labs, Axie Infinity, Polygon, ConsenSys, Magic Eden, OpenSea, Dapper Labs, Yield Guild Games, and many others.

In December, scammers managed to steal $100,000 by using a counterfeit CLAUDE token following an attack on Anthropic’s X account. Furthermore, they gained access to Drake’s X account and endorsed a fraudulent meme coin called Anita.

As per Cyvers’ yearly report, issues with access controls continue to be the leading factor behind financial losses in the cryptocurrency sector. In fact, Cyvers’ findings reveal that these issues resulted in approximately $1.9 billion worth of damage in the year 2024.

Read More

2024-12-26 07:43