News 
December 26, 2024 
2 min. 
Animoca Brands’ co-founder and chair, Yat Siu, became the latest victim in a series of crypto-focused hacks on X. The breach allowed attackers to use Siu’s account to promote a fraudulent token, raising concerns about the growing threat to prominent figures in the cryptocurrency industry.
Animoca confirmed the incident in a statement posted on Dec. 26, clarifying that Siu’s account had been compromised to promote a fake token on Solana’s Pump.fun platform. The fraudulent token, dubbed “Animoca Brands (MOCA),” mimicked the name of Animoca and its Mocaverse NFT collection.
Phishing Scams Target High-Profile Crypto Accounts
Blockchain investigator ZachXBT reported that Siu likely fell victim to a phishing email, part of a broader scheme targeting crypto influencers on X. The attackers used social engineering tactics, such as fake copyright infringement notices, to lure victims into resetting their passwords and two-factor authentication details via a phishing site.
ZachXBT revealed that the fraudulent MOCA token was created by the same wallet address behind multiple similar scams. Over the past month, these schemes have stolen over $500,000 by hacking at least 15 accounts. Victims include crypto trading site Kick and Bitcoin service provider RuneMine.
Fake Token’s Value Plummets as Hack Continue
The fraudulent MOCA token briefly peaked at $36,700 in market cap but quickly crashed to around $6,200. Trading activity has since dried up, highlighting the short-lived nature of these scams.
As these attacks grow in sophistication, industry leaders are urging caution and better security measures. The incident serves as a stark reminder of the importance of vigilance against phishing and other cyber threats targeting the crypto community.
