Animoca Brands co-founder Yat Siu’s social media account was compromised to promote a fraudulent token, marking the latest in a series of recent hacks targeting crypto-related accounts. Blockchain gaming firm Animoca Brands confirmed the breach, stating a fake token launch linked to Solana was falsely promoted through Siu’s hacked account.
Blockchain investigator ZachXBT indicated that Siu likely fell victim to a phishing attack, similar to other instances where hackers impersonated the social media team to send deceptive copyright infringement notices. These notices convinced victims to visit phishing sites where their account credentials, including password and two-factor authentication details, were stolen.
The fraudulent token, named Animoca Brands (MOCA), saw its value briefly peak at over $36,700 before plummeting to around $6,200, with trading activity quickly evaporating.
ZachXBT noted that the fake token was linked to the same address associated with other fake token promotions on recently compromised accounts. This attack is part of a broader pattern where at least 15 accounts have experienced similar hacks, collectively generating approximately $500,000 for the perpetrators in the last month.
