CandleFocus Animoca Brands Chairman’s X Account Hacked, Promoting Fake Token
2024-12-26
Author: Content Editor
The X account of Yat Siu, co-founder and executive chairman of Animoca Brands, was hacked to promote a fake token named ANIMOCA. The hacker compromised Siu's official account and posted about Animoca Brands launching a primary token, causing the price of the fake token to surge by 500%. Siu confirmed the incident and reported it to the support team, stating that the attacker bypassed 2FA security. Animoca Brands warned investors not to engage with the account and stated that there was no official token launch. Access control vulnerabilities continue to be a major cause of losses in the cryptocurrency space, with over $1.9 billion in damages in 2024.
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