Animoca Brands President's X Account Hacked, Promoting Fake Token

The X account of Animoca Brands co-founder and CEO Yat Siu is reported to have been hacked to promote a fake token called ANIMOCA.

The official X account of Animoca Brands has confirmed the incident and called on investors to stop interacting with Yat Siu's account.

Fake ANIMOCA Token Surges 500% in 5 Minutes

According to initial investigations by Kenta, the hacker successfully infiltrated Yat Siu's official X account and posted about Animoca Brands launching an official token under its name. It appears the hacker had created this token previously on the pump.fun platform. The price of the fake ANIMOCA token surged 500% in just five minutes. However, the price has since dropped after the hacker deleted the post.

Additionally, Yat Siu used a secondary account to announce and confirm the incident. He stated that the attacker had bypassed two-factor authentication (2FA) security, and he has reported the issue to X's support team. Yat Siu also mentioned that he will share insights and highlight security vulnerabilities of X following this incident.

"Unfortunately, Yat Siu's social media account has been compromised. There are no official tokens or Non-Fungible Tokens (NFTs) being launched by Animoca Brands. The token launch on Solana as claimed in a post was done by the hacker. Please DO NOT interact with the account and be vigilant,"

Animoca Brands stated.

Animoca Brands is one of the most active Web3 investors, with a portfolio of over 540 investments, including Yuga Labs, Axie Infinity, Polygon, ConsenSys, Magic Eden, OpenSea, Dapper Labs, Yield Guild Games, and many more.

Additionally, in December, scammers stole $100,000 by using a fake CLAUDE token after hacking Anthropic's X account. They also hacked Drake's X account to promote a fake meme coin called Anita.

According to Cyvers' annual report, access control vulnerabilities remain the primary cause of losses in the cryptocurrency sector. Cyvers' data shows these vulnerabilities have caused over $1.9 billion in damages in 2024.

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