Yat Siu, CEO and co-founder of Animoca Brands has fallen victim to a hacking incident targeting his official X account. Hackers took control of the account to promote fraudulent tokens and contracts under the guise of a legitimate Animoca Brands token launch.
The Hong Kong-based firm has issued a public warning, urging users not to engage with posts from the compromised account.
Animoca brands issues warning to users
On December 26, Animoca Brands used its official X account to confirm that Yat Siu’s profile had been hacked. The company stressed that it has not authorized token or NFT releases and called on users to exercise caution. Posts promoting Solana-based tokens and similar contracts were also flagged during the hacking incident. Animoca Brands assured users that updates would be shared once the account is restored and reiterated its advice to avoid interacting with suspicious content.
The wave of hacks targets high-profile accounts
This attack is one of several recent hacks targeting prominent X accounts to push scams. On December 24, the live-streaming platform Kick had its official account breached. Hackers used the platform to promote fraudulent Solana-based tokens called “Kick Token” and attempted to trick users into engaging with malicious wallet links. Kick’s co-founder, Bijan Tehrani, confirmed that the platform has no plans to launch any such token and warned users about the scam.
On December 20, hackers compromised the account of Vivek Ramaswamy, co-lead of the Department of Government Efficiency. The attackers falsely claimed a partnership between the agency and a stablecoin project, aiming to mislead users into believing it was part of a financial inclusion initiative. Similarly, hackers breached the account of rapper Drake to promote a scam token called $ANITA. This fraudulent campaign falsely linked the token to Drake’s Anita Max Wynn Tour and a crypto betting platform.
Rising concerns over Crypto scams
The growing number of such incidents has sparked concerns across the crypto community. Binance’s former CEO, Changpeng Zhao, recently warned followers to watch out for impersonators using fake accounts, even those with verified checkmarks. He reminded users to rely only on his official handle, @cz_binance and flagged all similar accounts as fraudulent.
The hacking of Yat Siu’s X account highlights the persistent risks within the cryptocurrency space. Animoca Brands has urged users to remain vigilant and avoid engaging with any unverified token promotions or announcements, particularly those linked to compromised accounts.
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