Animoca Brands Chairman’s X Hacked, Promotes Fake Token

The X account of Animoca Brands co-founder and executive chairman Yat Siu has reportedly been hacked to promote a fake token named ANIMOCA.

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

Fake ANIMOCA Token Spikes 500% in Just 5 Minutes

According to one initial investigation by Kenta, the hacker successfully hacked Yat Sius’ official X account and wrote about Animoca Brands launching a primary token under its name. It appears that the hacker created this token earlier on the pump.fun platform.

The price of the fake ANIMOCA token increased by 500% in just five minutes. However, the price dropped back after the hacker deleted the post.

In addition, Yat Siu used a secondary account to announce and confirm the incident. He listed 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 that he would share insights and highlight X’s security vulnerabilities in light of this incident.

“Unfortunately, Yat Sius’ social media account has been compromised. There is no official token or NFT launch from Animoca Brands. The token launch on Solana as claimed in a post was done by the hacker. Please DO NOT engage with the account and be vigilant,” Animoca Brands listed.

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.

Additionally, in December fraudsters 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 called Anita.

According to Cyvers’ annual report, access control vulnerabilities remain the primary cause of losses in the cryptocurrency space. Cyvers’ data shows that these vulnerabilities accounted for over $1.9 billion in damages by 2024.