Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ETH Robinhood CEO account was hacked, fake VLAD tokens caused market turmoil
Robinhood CEO Vlad Tenev's X account was hacked, causing huge repercussions in the cryptocurrency market. The attacker used the account to promote a fake memin coin Vladhood (VLAD) created on Robinhood Chain. The transaction volume of the token reached US$22 million in a short period of time, and the attacker reportedly made approximately US$1.2 million from transaction fees. This incident once again highlights how effectively social media accounts can be used in cryptocurrency scams.
Hackers promote fake VLAD tokens as "official mascots"
In an attack on July 23, malicious actors created a memin called Vladhood (VLAD) on Robinhood's new Layer-2 network, Robinhood Chain. Later, they used the hacked Vlad Tenev's X account to post a post promoting the token as the "official mascot of Robinhood Chain." As posts quickly spread to a wide audience, investor interest rose sharply. Trading volume of VLAD tokens soared to approximately US$22 million in a few hours, and its price increased by more than 90,000%. The token was bought and sold by thousands of investors in a short period of time.
What is interesting about the incident is that the classic "carpet pulling" scam did not happen. Because the attacker created the memecoin through a launch platform called Pons, liquidity was locked and investors 'funds could not be directly withdrawn. Instead, hackers took advantage of the platform's function of charging transaction fees, repeatedly manipulated this function, and obtained approximately 650 ETH. According to the current market price, the amount was approximately US$1.2 million to US$1.3 million.
Robinhood and X responded quickly
Robinhood's messaging account issued a warning to users about 40 minutes after discovering the attack. Soon after, Platform X deleted the fake posts, and Robinhood Chain's blockchain browser also marked the VLAD project as a potential fraud. However, after the incident, the fraudsters launched a large number of fake VLAD tokens. Experts warn investors that transactions should not be based on unverified social media posts.
Robinhood's recent announcement that it will include memin and real-world assets (RWAs) in its ecosystem provides an opportunity for attackers to take advantage of the heat. Experts pointed out that the number of cryptocurrency fraud cases conducted by hacking into X accounts has increased significantly recently. Previously, the X accounts of Starlink and SpaceX have been hacked in a similar way to promote fake tokens, demonstrating the critical importance of social media security in the cryptocurrency industry.
Assessment
Robinhood CEO's X account was hacked, once again demonstrating that social media accounts have become a powerful tool in cryptocurrency fraud. Although attackers were unable to directly steal investor funds, they managed to make millions of dollars through transaction fees alone. The incident reminds investors that they should trust only verified official statements and be wary of sudden token announcements on social media.
