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Attention! 15 Crypto Accounts Compromised in Major Hack 🚨💸

Attention! 15 Crypto Accounts Compromised in Major Hack 🚨💸

🚨 Recent Hack Targets Animoca Brands Co-Founder 🚨

The X account belonging to Yat Siu, co-founder and executive chairman of Animoca Brands, has faced a severe hacking incident. A malicious actor exploited this account to promote a fraudulent Solana memecoin named MOCA, which falsely claims ties to Animoca Brands and its Mocaverse NFT collection. This operation seems to be part of a larger phishing strategy that targets various crypto-related X accounts.

💻 Current Status of the Account

As of now, Yat Siu has not yet regained control of his compromised account. Although some posts advocating the counterfeit token have been deleted, the account continues to spread information about the MOCA token. Reports suggest that the hacking incident was likely initiated through a deceptive phishing email, leading to compromised security measures.

Update: It appears that Yat Siu fell victim to the same phishing attack just hours prior, as the fraud token was created by the same entity connected to other previous scams.

Deployer Address:
BL1hs3jw58d1S9xw7cKRUx9wXY94se9Ydt7bCgN1W3pL

Mocaverse has indicated that Yat Siu’s account was breached despite having standard security measures, such as two-factor authentication (2FA), in place. The organization noted, “Evidence indicates that this incident involved stolen identity, as the account maintained common security implementations. We are currently assessing and enhancing our security protocols.”

As a necessary precaution, all crucial team members and official accounts have modified their login information. Fortunately, no additional security flaws or unauthorized actions have been detected on other accounts.

The counterfeit token momentarily surged in market cap, reaching around $36,700, before plummeting to a current valuation of approximately $5,991, according to reports from Birdeye.

In light of Animoca Brands’ confirmation of the breach, renowned blockchain analyst and investigator ZachXBT highlighted that the lack of a security key on Siu’s account may have rendered it more susceptible to exploitation.

📉 The Phishing Tactics Behind the Attacks

Earlier this week, ZachXBT alerted the public regarding a phishing email targeting X accounts connected to the cryptocurrency domain. The hacking spree compromised over 15 X accounts recently, resulting in an estimated loss of around $500,000 through various fraudulent meme coin promotions.

The attacker employed a consistent phishing approach, utilizing fake copyright infringement emails designed to provoke urgency among victims. This led many to unwittingly visit phishing websites where they were asked to reset their passwords and two-factor authentication settings, thereby giving the attacker unwarranted access to their accounts.

Among the notably affected accounts are those linked to Kick, Cursor, Alex Blania, The Arena, and Brett, all of which are prominent in the crypto space. The accounts were targeted due to their significant followings, making them appealing for criminal exploitations.

Once the hacker gained access, they promoted fake tokens and scams primarily targeting Solana investors, often making false announcements about new coins and providing misleading contract addresses.

🔗 Concealing the Tracks

ZachXBT observed that the perpetrator executed transactions across the Solana and Ethereum networks to obscure the source of the misappropriated funds. This tactic aims to hinder the tracking efforts of both law enforcement and blockchain analysts.

Recent data indicates a concerning rise in assaults on crypto-affiliated Twitter accounts, particularly targeting high-profile individuals and organizations in this sector.

On December 14, the X account of music artist Drake was compromised, leading to the promotion of a counterfeit meme coin dubbed ANITA. This scam falsely claimed a partnership with Stake, an online gambling service that Drake has endorsed since 2022.

Post-exposure, this token experienced a trading volume surge of around $5 million before the scam was exposed and all dishonest promotions were eliminated.

On December 8, the X account of the Cardano Foundation was also breached. During this incident, the hacker promoted a fake token named ADAsol and circulated false news regarding purported SEC litigation against Cardano. The Foundation quickly regained access to its account and informed users that standard operations would recommence while they investigated the security breach.

🔥 Hot Take: Stay Vigilant Against Threats 🔥

As scams proliferate in the cryptocurrency ecosystem, vigilance becomes crucial. Security measures, while often effective, need regular updates and enhancements to adapt to evolving threats. Always exercise caution when responding to emails, especially those that create a sense of urgency. Ensure that your accounts are secured with up-to-date safety features, including robust security keys.

You may want to look into the following links for further reading on crypto vulnerabilities:
Phishing attacks,
Crypto scams,
Account security.

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Attention! 15 Crypto Accounts Compromised in Major Hack 🚨💸