Yat Siu X Account Hacked: Animoca Brands Solana Token Launch Is Fake

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As a seasoned crypto investor with a knack for navigating the digital frontier, I can’t help but feel a pang of concern when I hear about compromised accounts like that of Yat Siu, executive chairman of Animoca Brands. The fact that hackers are masquerading as reputable entities to peddle fake tokens under the guise of official launches is not only disheartening but also a stark reminder of the challenges we face in this space.

The X account of Animoca Brands executive chairman Yat Siu has been compromised while promoting a fake Solana token launch. As a result, the hackers are promoting suspicious tokens and contracts under the guise of “Animoca Brands issuing new coins”. The Web3 platform popular for its products like Anichess, The Sandbox, PHANTOM GALAXIES, and Crazy Defense Heroes, has issued a warning asking users to stay vigilant.

Yat Siu X Account Promotes Fake Solana-based Tokens

The X Account of Yat Siu, founder of Animoca Brands, remains compromised promoting a fake token launch on the Solana blockchain. The Web3 platform took cognizance of the matter immediately that there was no official token launch of NFT launch by them. Thus, it has asked users not to engage with any such posts on Yat Siu’s X timeline. The official announcement noted:

I’m sorry to inform you that Yat Siu’s social media account appears to have been taken over by unauthorized individuals. It’s important to know that there is no legitimate token or NFT launch from Animoca Brands at this time. The post about a token launch on Solana should be disregarded, as it was created by the hacker. To protect yourself, avoid interacting with this account and remain cautious online.

Following a brief inactivity enforced by X, it appears that the account has resumed functioning. Nonetheless, we are still awaiting an authoritative statement from Animoca Brands regarding this matter.

Over the past few days, Yat Siu has been quite busy on the X platform, promoting MOCA Coin. This aggressive marketing strategy led to an impressive rise in the MOCA price, peaking at $0.50 on Christmas day and showing a 200% increase over the weekly chart. However, since reaching its peak, the MOCA price has dipped approximately 30%, now trading at $0.35, a decrease of 6% as we speak.

This year, one of the co-founders of Animoca Brands expressed his belief that Non-Fungible Tokens (NFTs) and Web3 gaming are significant catalysts for a shift in digital ownership. He emphasized the merging trend between meme coins and NFTs, with technologies like the Ton protocol promoting harmonious interactions within the blockchain environment.

Animoca Brands Co-Founder Faces Tough Questions

As a researcher delving into blockchain security matters, I’ve taken note of ZachXBT’s concerns regarding the compromised X account belonging to Animoca Brands’ co-founder. The question arises: why didn’t Yat Siu employ more sophisticated security measures, such as a hardware security key, to safeguard his account? This is a pertinent inquiry given the growing importance of digital asset protection in our rapidly evolving blockchain landscape.

The day prior to Christmas, ZachXBT raised alarms over a suspicious pattern where a hacker employs deceitful phishing emails to infiltrate prominent accounts. “Yesterday, I pointed out a potential phishing attack aimed at Siu, which may be connected to the recent security incident,” ZachXBT commented.

Over the past month, I’ve unfortunately fallen victim to a cunning phisher who’s managed to swipe over half a million dollars from my crypto wallet. They’ve exploited more than fifteen accounts, including Kick, Cursor, Alex Blania, The Arena, and Brett, by posing as the X team and deceitfully obtaining login credentials for meme coin scams. It’s essential to remain vigilant about the security of our investments in this ever-evolving crypto space.

Recently, unauthorized individuals managed to breach Vivek Ramaswamy’s X account, creating a false impression of an alliance between the Department of Government Efficiency (D.O.G.E) and USUAL stablecoin.

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2024-12-26 10:08