Title: Animoca Brands Co-Founder’s Account Compromised; Fake Token Promoted

Subtitle: Animoca Brands Warns About Hacked Social Media Account Promoting False Token Launch

In a recent turn of events, the Twitter account of Yat Siu, co-founder of prominent metaverse and gaming venture capital firm Animoca Brands, was compromised. The account was utilized to advertise a fabricated token, raising concerns among followers and industry insiders alike.

Animoca Brands promptly issued a warning via their own Twitter account at 01:36 UTC on Thursday, advising users that Siu’s account had indeed been breached. They emphasized that neither the company nor any associated entities were introducing an official token or non-fungible token (NFT). Any claims suggesting otherwise were the work of the hacker responsible for the breach.

It appears that the cybercriminal may have gained access to Siu’s account through a phishing email disguised as correspondence relating to copyright infringement. This method has proven effective in numerous previous attacks over the last month, resulting in approximately $500,000 worth of losses for victims at the time.

The fraudulent post originating from Siu’s compromised account endorsed a token called MOCA on the Solana blockchain. Interestingly enough, Moca Foundation – described as a community-owned organization aiming to amplify Mocaverse’s network effects – already possesses its own MOCA coin. However, it remains unclear whether this connection played any role in the current situation. Both Animoca Brands and Siu himself hold stakes in Mocaverse, an account and ID management system within the metaverse realm.

According to updates provided by Mocaverse, they have successfully regained control over Siu’s account while working diligently to verify ownership details. Fortunately, other related accounts appear unaffected by this incident thus far. To reassure concerned parties, Animoca Brands clarified that stringent security measures are in place across their official handles and those belonging to affiliated organizations like MOCA Foundation.

Source: Coindesk.com

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