Learn about the hacking of ANIMOCA Brands CEO's account and the promotion of a fake token. Understand how hackers caused a 500% price increase in minutes.
Yat Siu’s account, the CEO and co-founder of Animoca Brands, was hacked on the social network X (formerly Twitter), and hackers caused a 500% increase in the price of the fake token ANIMOCA by spreading fake news about its release within five minutes. Animoca Brands, one of the most active investors in the Web3 sector with over 540 investments, immediately confirmed this incident and stated that they have not released any official tokens or NFTs. Yat Siu also stated that hackers gained access to his account by bypassing the two-factor authentication system.
