Animoca Co-Founder’s X Account Hacked for Fake Token Promo

A recent cyberattack shocked the crypto community. Hackers took over Yat Siu's X account. Yat Siu is the co-founder of Animoca Brands. The hackers used his account to promote fake tokens on Solana’s Pump.fun platform. They falsely claimed the tokens were linked to Animoca.

Uncovering the Phishing Scam

Blockchain investigator ZachXBT found Yat Siu may have fallen for a phishing scam. These scams target crypto accounts using fake emails. The emails pose as the X team, creating urgency with false claims. 

Over the past month, these hackers stole $500,000 from over 15 X accounts. Other incidents happened recently. On November 26, hackers targeted RuneMine’s X account. Then, on December 24, they attacked the crypto trading site Kick. 

The fake MOCA token, promoted through Yat Siu’s account, briefly reached a market cap of $36,700 but dropped to $5,991 with only 33 holders, according to Birdeye.

Swift Response by Animoca Brands

Animoca Brands quickly addressed the breach. They clarified Yat Siu’s account was compromised. The company had not launched any official tokens or NFTs. They warned users to avoid engaging with the compromised account. 

As the cryptocurrency sector grows, cybercrime becomes more sophisticated. Bad actors often target X accounts of creators and celebrities with phishing scams. On December 8, the X account of the Cardano Foundation was hacked to promote a fake token “ADAsol”. 

This scam generated $500,000 in trading volume before the value dropped by 99%. Similarly, Symbiotic’s X account was hacked in October, causing users to lose their tokens.

Even high-profile tech figures face these threats. On October 29, hackers compromised the X account of Truth Terminal AI founder Andy Ayrey, promoting fake tokens and netting $1.5 million.