Animoca Chairman’s X Account Hacked to Promoting Fake Token

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As a seasoned analyst with years of experience navigating the volatile and ever-evolving landscape of the cryptocurrency market, I have come to learn that one must always remain vigilant against potential threats lurking around every corner. The recent hacking incident involving Animoca Brands’ co-founder Yat Siu serves as yet another grim reminder of this fact.

Animoca Brands’ co-founder and executive chairman, Yat Siu, recently fell victim to a hacking incident that promoted a fake token named ANIMOCA. The hacker managed to compromise Siu’s official X account, claiming that Animoca was launching a new token. 

On the pump.fun site, a posted item rapidly boosted the ANIMOCA fake token’s cost by an impressive 500% within merely five minutes. But this sudden rise was temporary, as the hacker removed the post, which resulted in a swift decrease in the token’s price.

Animoca Brands acknowledged the hacking incident and advised investors to avoid interacting with Siu’s account. Later on, Yat Siu disclosed that the attacker managed to circumvent his two-factor authentication (2FA) protection and reported the matter to the customer service team of X.

Siu further assured to disclose details regarding the security incident and reveal potential weaknesses in X’s system. On a positive note, Animoca Brands made it clear that they have no immediate plans for launching any official tokens or NFTs within the community.

As a researcher in this field, I’d like to clarify that the hacker’s assertions about a Solana-based token launch were entirely unfounded. Our company continues to be a prominent investor within the Web3 landscape, with an impressive portfolio boasting names such as Yuga Labs, Axie Infinity, and Polygon.

This hack is just one of many security breaches in the crypto space. In December, scammers also stole $100,000 through a fake CLAUDE token after hacking Anthropic’s X account. 

The rising frequency of these attacks underscores the fact that access control weaknesses remain a significant threat in the realm of cryptocurrency, resulting in estimated losses of approximately $1.9 billion in the year 2024 alone.

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2024-12-26 10:12