A phishing scam targeting crypto accounts has led to losses exceeding $500,000. Among the victims is Animoca Brands co-founder Yat Siu, whose X account was compromised to promote fake Solana tokens via Pump.fun, highlighting growing threats to prominent figures in the crypto industry.
Sophisticated Phishing Scheme Uncovered
Hackers used phishing emails posing as the X team to create urgency among users, prompting them to visit malicious websites. Once credentials were reset, attackers accessed accounts for scams. The operation targeted meme coin investors on Solana, spreading contract addresses tied to fake tokens.
Widespread Breaches and Market Impact
The attacks affected over 15 accounts, including Kick, Cursor, Brett, and Alex Blania, spanning November 26 to December 24. The fake token MOCA briefly reached a market cap of $36,700 before dropping to $5,991. Hackers concealed stolen funds by bridging between Solana and Ethereum networks. Animoca Brands promptly responded, advising users to avoid the fraudulent token.
Calls for Vigilance in Crypto Security
ZachXBT emphasized the need for enhanced security as phishing operations grow more sophisticated, undermining trust within the crypto community and causing financial losses. Animoca's swift action was lauded by the community, underlining the importance of vigilance amid ongoing challenges in the crypto sector.
Phishing incidents continue to pose a significant threat to the crypto industry, necessitating heightened security awareness from users and businesses alike.
