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Animoca Brands Co-Founder Yat Siu’s X Account Compromised in Token Scam
On December 26th, Animoca Brands announced that the X account of their co-founder, Yat Siu, had been compromised. The unfortunate event led to a series of attacks on cryptocurrency accounts, further emphasizing the importance of maintaining robust security measures.
It appears that the hackers exploited social engineering tactics to gain access to Siu’s account. They successfully impersonated X team members and sent fake copyright infringement notices, directing him to a phishing website where his password and two-factor authentication (2FA) credentials were unknowingly shared with the attackers. This particular strategy has been used to compromise at least 15 crypto-focused X accounts since November 26th.
In this incident, Siu’s compromised account was used to promote a fraudulent token named Animoca Brands (MOCA), which had no official connection to the company and its Mocaverse NFT collection. The fake token was launched on Solana’s memecoin platform, Pump.fun. Its market cap peaked at $36,700 shortly after being promoted by Siu’s hacked account but quickly plummeted to $7,700 mere minutes later, before eventually stabilizing at around $6,200.
Blockchain investigator ZachXBT notes that the same address behind this scam is responsible for other fraudulent tokens, with attackers collectively netting over $500,000 in the past month.
Source: coinchapter.com
