Giant Altcoin Founder's X Account Hacked, Fake Token Introduced! Price Drop!

As hacking incidents in the cryptocurrency market continue to increase, blockchain researcher ZachXBT announced a new hacking incident.

Accordingly, ZachXBT announced that the X account of Yat Siu, co-founder and president of blockchain gaming giant Animoca Brands, was hacked.

ZachXBT also noted that the hacker promoted a fake token from Yat Sui's account.

Hacker Siu introduced a Solana-based memecoin called Animoca Brands (MOCA), which shares the name of the company's Mocaverse non-fungible token (NFT) collection launched on Pump.fun from his account. The post was later deleted.

According to the data, the fake MOCA token reached a market value of $36,700 shortly after it was shared from Siu’s account, but then crashed.

Animoca Brands confirmed the hack and fake token launch, stating: “Unfortunately, Siu’s social media account has been compromised. In a shared post, the alleged token launch on Solana was done by the hacker.”

This hack also negatively affected the altcoin called The Sandbox (SAND). Having fallen by 8% in the last 24 hours, SAND ranked first among the altcoins that fell the most.

https://twitter.com/animocabrands/status/1872094029451772161

*This is not investment advice.