Phishing Scam Targets Crypto Accounts, Animoca Brands’ Yat Siu Among Victims

• Phishing scam targets crypto accounts, stealing $500K, with Yat Siu’s account promoting fake tokens to mislead followers.
• Hackers impersonated X’s team, tricking users into resetting credentials, leading to widespread account takeovers and scams.
• Animoca Brands swiftly clarified the breach, warning users about fake tokens and emphasizing the importance of crypto security.

A phishing scam targeting crypto-focused accounts has stolen over $500,000, with Animoca Brands co-founder Yat Siu among its latest victims. Hackers compromised Siu’s X account to promote fraudulent Solana tokens via the Pump.fun platform. These attacks highlight increasing threats to high-profile crypto figures and platforms.

Sophisticated Phishing Scheme Uncovered

Hackers used phishing emails to impersonate the X team and lure victims. These emails exploited urgency, claiming false copyright infringements, to prompt account holders to visit malicious websites. Once users reset their credentials, attackers gained access and used the accounts for scams.

The fraudulent scheme targeted meme coin investors on Solana, sharing specific contract addresses tied to fake tokens. Posts often included captions like “Incoming Transmission,” followed by fake announcements. The operation leveraged the trust and large audiences of prominent crypto accounts, some with over 200,000 followers.

Widespread Breaches and Market Impact

The phishing attacks affected over 15 accounts, including Kick, Cursor, Brett, and Alex Blania, with incidents spanning November 26 to December 24. Hackers promoted fake tokens, such as MOCA, which briefly hit a market cap of $36,700 before plummeting to $5,991.

Hackers attempted to conceal stolen funds by bridging them between Solana and Ethereum networks. However, blockchain investigator ZachXBT linked the compromised accounts through six deployer addresses used in the scams.

Animoca Brands quickly responded to the breach, clarifying it had no connection to the fake MOCA token. The company urged users to avoid engaging with Siu’s compromised account and warned against interacting with the fraudulent token.

Calls for Vigilance in Crypto Security

ZachXBT emphasized the need for heightened security as phishing operations grow more sophisticated. These incidents exploited trust within the crypto community, causing financial losses and reputational damage.

Animoca’s swift action earned praise from crypto, with stakeholders like NF3 Chip stressing the importance of vigilance. The scams show the ongoing challenges faced by the crypto sector as it strives for adoption and trust.