tl;dr
Yat Siu, co-founder and executive chairman of Animoca Brands, had his official Twitter account hacked to promote a fake token named ANIMOCA. The hacker posted about a token launch, causing the fake ANIMOCA token to surge by 500% in five minutes before dropping back down. Yat Siu confirmed the hack a...
Yat Siu, co-founder and executive chairman of Animoca Brands, had his official Twitter account hacked to promote a fake token named ANIMOCA. The hacker posted about a token launch, causing the fake ANIMOCA token to surge by 500% in five minutes before dropping back down. Yat Siu confirmed the hack and mentioned that the hacker bypassed two-factor authentication (2FA). Animoca Brands warned investors to avoid engaging with the hacked account. This incident follows similar crypto-related hacks on other prominent figures' accounts.
According to an initial investigation by Kenta, the hacker successfully compromised Yat Siu’s official X account and posted about Animoca Brands launching a primary token under its name. It appears the hacker created this token earlier on the pump.fun platform. The price of the fake ANIMOCA token surged by 500% within just five minutes. However, the price dropped back after the hacker deleted the post.
Additionally, Yat Siu used a secondary account to announce and confirm the incident. He stated that the attacker bypassed two-factor authentication (2FA) security and that he had reported the issue to X’s support team. Yat Siu also mentioned he would share insights and highlight X’s security vulnerabilities in light of this incident. Animoca Brands urged investors to stay vigilant and not engage with Yat Siu’s compromised account.
Additionally, in December, scammers stole $100,000 using a fake CLAUDE token after hacking Anthropic’s X account. They also hacked Drake’s X account to promote a fake meme coin named Anita.
According to Cyvers’ annual report, access control vulnerabilities remain the primary cause of losses in the cryptocurrency space, accounting for over $1.9 billion in damages in 2024.
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 more.
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