What to know:
- The X account of Animoca Brands co-founder Yat Siu was compromised and used to promote a fictitious token.
- The fake MOCA token on Solana plays off the Moca Coin (MOCA) related to Animoca-linked Mocaverse.
- The scam may be related a more than a dozen similar exploits that have occurred over the past month, according to ZachXBT.
As a seasoned researcher with years of experience in the dynamic world of blockchain and cryptocurrencies, I find the recent incident involving Yat Siu, co-founder of Animoca Brands, particularly troubling. It’s disheartening to see how even influential figures like him can become targets of such cyberattacks.
According to a statement made by Animoca Brands on a social media platform, the personal account of its co-founder Yat Siu (one of CoinDesk’s Most Influential 2024) was hacked and exploited to publicize a non-existent digital token.
At 01:36 UTC on Thursday, Animoca, a venture capital firm specializing in metaverse and gaming, issued a warning on their own platform. They stated that Siu’s account had been hacked, and the company wanted to clarify that they were not launching an official token or Non-Fungible Token (NFT) at this time.
🚨 Sadly, it appears that YSIU’s social media account has fallen into the wrong hands. It’s important to note that there is no legitimate token or NFT launch associated with Animoca Brands at this time. The post about a token launch on Solana should be disregarded as it was fabricated by a hacker. Avoid interacting with the account and remain cautious. We will keep you updated on any official announcements.
— Animoca Brands (@animocabrands) December 26, 2024
As a researcher delving into the realm of cybercrime, I firmly believe that the recent crypto exploit was likely orchestrated via a phishing email, disguised as one supposedly originating from X concerning copyright infringement matters. This suspicion is reinforced by ZachXBT’s findings, who has been actively sharing insights on this topic. In the past month alone, he reported several similar attacks, enabling the culprits to pocket an estimated half a million dollars at the time of reporting, on Tuesday.
A screenshot shared by ZachXBT indicates that an unverified claim about a cryptocurrency called MOCA was spread through Siu’s social media account, which is associated with the Solana blockchain.
The Moca Foundation, a community-driven organization focused on amplifying the network benefits of the Mocaverse platform, has its unique digital currency called Moca Coin (MOCA). This token functions across various blockchain networks, as described by the foundation. Mocaverse is a system that manages accounts and identities, and both Animoca and Siu have an ownership interest in it.
As per a post from Mocaverse, X is currently securing control over Siu’s account and is in the process of confirming ownership. Meanwhile, related accounts are unaffected.
It was stated that the official accounts for Animoca Brands, Moca Network, and MOCA Foundation have zero tolerance for any changes, and stringent safety precautions are being employed.
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2024-12-26 17:03