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.
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.
