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: “Unfortunately, Yat Siu’s 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 made by the hacker. Please DO NOT engage with the account and stay vigilant”. After a temporary suspension by X, the account seems live again. However, an official confirmation from Animoca Brands is yet to come. In recent days, Yat Siu has been active on the X platform while shilling MOCA Coin during this period. As a result, the MOCA price surged all the way to $0.50 on Christmas day with a 200% surge on the weekly chart. However, the MOCA price has retraced nearly 30% from the top and is currently trading at $0.35, down 6% as of press time. Earlier this year, Animoca Brands co-founder said that he sees NFTs and Web3 gaming as key drivers of a transformation in digital ownership. He highlights the convergence of meme coins and NFTs, with technologies like the Ton protocol fostering synergies across the blockchain ecosystem. Animoca Brands Co-Founder Faces Tough Questions Blockchain security investigator ZachXBT has raised concerns over the compromised X account of Animoca Brands’ co-founder. He questioned why didn’t Yat Siu use advanced security measures, such as a hardware security key, to protect his account. A day before Christmas, ZachXBT had flagged concerns with a pattern identification wherein a threat actor uses phishing emails to gain access to high-profile accounts. “Just yesterday, I warned about phishing emails targeting Siu, likely linked to today’s breach,” ZachXBT noted. Reportedly, the same scammer has stolen more than $500,000 over the past month by compromising more than 15 X accounts including the likes of Kick, Cursor, Alex Blania, The Arena, and Brett. This phishing scam involves impersonating the X team to steal credentials and further launch fraudulent meme coins. Last week, hackers gained access to Vivek Ramaswamy’s X account while promoting a fake collaboration between the Department of Government Efficiency (D.O.G.E) and USUAL stablecoin. The post Yat Siu X Account Hacked: Animoca Brands Solana Token Launch Is Fake appeared first on CoinGape .
