What You Need to Know:

• The X account of Animoca Brands co-founder Yat Siu was compromised and exploited to promote a fake token.
• This counterfeit MOCA token is associated with Moca Coin (MOCA) linked to Animoca's Mocaverse project.
• The incident is part of a series of similar exploits reported over the last month, as noted by ZachXBT.

The X account of Yat Siu, recognized as one of CoinDesk's Most Influential 2024, was exploited to push a fictitious token, according to Animoca. The firm subsequently warned its followers that its account was not launching any official tokens or NFTs.

‼️🚨 Unfortunately, @ysiu social media account has been compromised. There is no official token or NFT launch from Animoca Brands. The token launch on Solana as claimed in a post was made by the hacker. Please DO NOT engage with the account and stay vigilant. — Animoca Brands (@animocabrands) December 26, 2024

The suspected phishing scam may have originated from an email disguised as a communication from X regarding copyright issues. According to ZachXBT, this attack is part of a troubling trend of similar scams that have emerged recently, absconding with approximately $500,000.

The misleading post from Siu's account incorrectly advertised a token named MOCA on the Solana blockchain, as evidenced by a screenshot tweeted out by ZachXBT.

The Moca Foundation, a community-driven entity aimed at enhancing the network power of Mocaverse, has its own version of Moca Coin (MOCA), marketed as an "omni-chain network token". Both Animoca and Siu are major stakeholders in Mocaverse.

Based on an announcement from Mocaverse, control over Siu's account has been regained by X, which is also validating account ownership. No other affiliated accounts were harmed in this breach.

Moca's statement clarified:

"There is no compromise on Animoca Brands, Moca Network or MOCA Foundation official handles, and there are strict security measures in place."

The individuals behind the false MOCA token are reportedly active on Pump.fun, a platform designed for creating memecoins, and have launched several NFT collections recently. As per blockchain data, an associated wallet holds $67,000 in USDC, although it is uncertain whether this is linked to phishing efforts.

Note: Oliver Knight contributed to this report.