Robinhood CEO Vlad Tenev Hacked, Exploiter Makes $1.2 Million Promoting Fake Token
Hackers took over the X account of Robinhood CEO Vlad Tenev on Thursday. They used it to push a brand new crypto coin, Vladhood (VLAD), that has already been flagged as a probable rip-off.
The pretend submit referred to as VLAD the official mascot of Robinhood Chain. It even mentioned the coin can be listed within the Robinhood app.
Inside the Robinhood CEO X Account Hack
Robinhood’s personal accounts stayed silent. So did Robinhood Crypto. That was the primary clue the submit was pretend.
The message began with a query. Does Robinhood love memes? It answered sure, then shared the coin’s handle and signed off, “Welcome to the Hood.”
The submit has since been deleted.
A blockchain tracker for Robinhood Chain marks the coin as a probable rip-off. The token holds no actual cash. It has modified arms about 1,868 instances since launch.
According to on-chain monitoring by MLM, the attacker generated round 650 ETH in proceeds from the VLAD token, price roughly $1.2 million to $1.3 million.
Scams like this preserve hitting the community. Reports of rug pulls have multiplied. The trick will not be new. A pretend coin named after Coinbase boss Brian Armstrong crashed this month, a lesson about trusting posts from executive accounts.
Meme Coins Keep Testing Robinhood Chain
Robinhood Chain went reside on July 1. It is a brand new blockchain that Robinhood constructed on Ethereum. The firm needs it to energy tokenized shares and different real-world belongings.
But memecoins took over quick. The community now handles thousands and thousands of trades a day. Risky meme cash drive most of it, and not too long ago pushed it to record trading volume. Total buying and selling has topped roughly $9 billion, in response to Entropy Advisors.
One coin, the Cash Cat meme coin, has led the pack. Some consultants fear this meme coin trading boom might harm Robinhood’s larger plans for tokenized shares.
Tenev has welcomed the enjoyable. He as soon as posted that the chain “works nice for memes too.” Now that very same hype has been turned in opposition to him.
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