Yat Siu's Account Hacked and Fake Token Promotion: What Happened

user avatar

by Giorgi Kostiuk

2 years ago

Yat Siu's account, the co-founder and chairman of Animoca Brands, was hacked by cybercriminals using it to promote a fake token.

Introduction

The hacking of Yat Siu’s account on X (formerly Twitter) by scammers caused a stir in the crypto sphere. They used his profile to announce a fake Animoca Brands token launch.

The Scam and Response

Hackers posted about the launch of a new token 'ANIMOCA,' causing its value to spike sharply. Yat Siu confirmed the hack via a secondary account, noting that the attackers bypassed two-factor authentication.

Even with 2FA in place, Yat Siu's account was hacked, raising concerns over X's security measures.

Impact of the Breach

Animoca Brands issued a statement denying any official token launch. Users were cautioned against interacting with the fake account and advised not to invest in unverified tokens.

The incident highlights the importance of social media security and a cautious approach to token information online.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Circle and Tereina Collaborate to Enhance Payment Systems with Stablecoins

Circle and SAP-backed Tereina have announced a partnership to integrate USDC and EURC payments into Tereina's enterprise payment infrastructure, starting with SAP Cloud ERP.

user avatarAndrew Smith

FCA Opens Crypto Authorisation Gateway for Firms

The Financial Conduct Authority (FCA) has opened its authorisation gateway for crypto businesses, starting the application period for compliance with new regulations effective October 25, 2027.

user avatarJacob Williams

Visa, BILL, and Billtrust Pilot AI Agents for Invoice Payments

Visa, BILL, and Billtrust have launched a pilot program to use AI agents for automating approved invoice payments through supplier portals.

user avatarZainab Kamara

Visa Introduces Stablecoin-Enabled Prefunding with Inyo Global

Visa has launched its stablecoin-enabled Visa Direct prefunding service in collaboration with Inyo Global, enhancing international money transfer efficiency.

user avatarSon Min-ho

Ripple Prime Introduces Perpetual Swaps for Institutional Clients

Ripple Prime introduces perpetual swaps for institutional clients, allowing them to trade derivatives referencing over 100 traditional markets.

user avatarAyman Ben Youssef

Ripple Highlights Key Trends in Institutional Custody from BCG Report

Ripple discusses key trends in institutional custody for digital assets based on a BCG report, highlighting the importance of governance, interoperability, and security.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.