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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Solana Sees Significant RWA Inflows

chest

Solana has recorded $348 million in net inflows of real-world assets over the past 30 days, increasing its tokenized RWA value to $720 million.

user avatarMaria Gutierrez

Aave Governance Considers Emergency Powers to Protect Users

chest

Aave governance is considering a proposal to grant emergency powers to guardians to freeze vulnerable lending pools during security threats.

user avatarDavid Robinson

Router Protocol Users Must Move Assets During Grace Period

chest

Router Protocol users must take action during the grace period to bridge assets back to origin chains before relayer nodes are disconnected.

user avatarJacob Williams

Arbitrum Proposes Disqualification of Three DeFi Protocols from Future Grants

chest

A new governance proposal by Arbitrum aims to disqualify three DeFi protocols from future DAO grant allocations due to alleged reporting failures and misuse of prior incentives.

user avatarAndrew Smith

Router Protocol to Shut Down Crosschain Network and Burn 303 Million Tokens

chest

Router Protocol has announced a deprecation plan to shut down its crosschain messaging network and burn 303 million ROUTE tokens due to unsustainable maintenance costs.

user avatarZainab Kamara

Ripple Partners with Florida Athletics to Introduce Digital Asset Payments

chest

Ripple has partnered with Florida Athletics to allow fans to use XRP and RLUSD for ticketing and merchandise, enhancing payment experiences and promoting digital asset adoption.

user avatarSon Min-ho

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.