Animoca Brands Chairman’s account was hacked, promoting fake Tokens

X accounts of Animoca Brands co-founder and executive chairman, Yat Siu, were allegedly hacked to promote a fake Token called ANIMOCA. Animoca Brands’ official...

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X accounts of Animoca Brands co-founder and executive chairman, Yat Siu, were allegedly hacked to promote a fake Token called ANIMOCA.

Animoca Brands’ official X account confirmed the incident and urged investors to stop interacting with Yat Siu’s account.

ANIMOCA Fake Tokens Soared 500% In Just 5 Minutes

According to one initial investigation of Kenta, hackers successfully hijacked Yat Siu’s official X account and posted about Animoca Brands issuing an official Token under his name. It seems that hackers have previously created this Token on the pump.fun platform.

The price of the fake ANIMOCA Token has skyrocketed 500% in just five minutes. However, the price dropped again after the hacker deleted the post.

Price Fluctuations of The Fake ANIMOCA Token. Source: pump.fun — Price fluctuations of ANIMOCA fake tokens. Source: pump.fun

Furthermore, Yat Siu used a secondary account to announce and confirm the incident. Grandfather said that the attacker had bypassed two-factor authentication (2FA) security and he reported the issue to X’s support team. Yat Siu also shared that he would give his opinion and highlight the weaknesses of the X’s security in this incident.

“Unfortunately, Yat Siu’s social media account has been compromised. There is no official Token or NFT issuance from Animoca Brands. The launch of Tokens on Solana as mentioned in the post is an act of hackers. Please DO NOT interact with this account and remain vigilant,” Animoca Brands said.

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

Additionally, in October 2, scammers stole $100,000 with a fake CLAUDE token after attacking Anthropic’s X account. They also attacked Drake’s X account to promote a fake Meme Coin named Anita.

The Key Attack Vector of Crypto Hacks from 2022 to 2024. Source: Cyvers — Main attack factors of Cryptocurrency hacks from 2022 to 2024. Source: Cyvers

According to Cyvers’ annual report, access control vulnerabilities remain the main cause of losses in the Cryptocurrency sector. Cyvers data shows that these vulnerabilities caused losses of more than $1.9 billion in 2024.