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ETH Robinhood CEO account was hacked to promote fake memin
On Thursday, Robinhood CEO Vlad Tenev's X account was hacked and used to promote a fake memin. The market value of the token briefly approached $10 million.
The deleted post described the token, named "Vladhood"(transaction code VLAD), as the "official mascot of the Robinhood Chain" and claimed that the token would be available within the Robinhood app. The post included the contract address and directed Tenev's fans to Robinhood Chain to purchase the token.
About 40 minutes after the promotion appeared, Robinhood confirmed that the account had been hacked. The company deleted the post and worked with Platform X to restore account access while confirming that VLAD had no connection to Robinhood or Tenev.
This false announcement received more than 175,000 views in 20 minutes. Tenev's profile picture was also replaced with a doctored photo of him wearing a Robin Hood-style hat.
Token release precedes account intrusion
The VLAD contract is deployed through the Pons launch platform, and the deployment time is 46 minutes before the hacked post is posted. Its release metadata lists Tenev's X profile as the project website, directly linking token deployment to planned social media promotion.
VLAD's market value climbed to nearly $10 million, then fell back after Robinhood issued a warning. Transactions continued after the post was deleted, with the main Uniswap pool processing more than $24 million in transactions and more than 90,000 transactions. The token contract attracted more than 5000 holders, and Robinhood Chain's Blockscout browser later marked it as a potential fraud item.
Bubblemaps tracked that about 70% of the supply was concentrated in early wallets and estimated that about 690 ETH (worth about $1.3 million) was extracted from addresses associated with the launch. Independent transaction tracking shows that the creator also charged a transaction fee while the liquidity of the token could still be withdrawn.
Robinhood Chain, the leader of memin trading,Robinhood launched its Ethereum second-layer network on July 1, with tokenized stocks, real-world assets and on-chain financial products at the core of its strategy. However, memin quickly became the main source of speculation on the Internet.
During the opening trading boom, Robinhood Chain's daily decentralized exchange trading volume reached approximately US$825 million, dominated by CASHCAT, HOODIE and thousands of small tokens.
The uneven distribution of these returns was apparent long before VLAD was popularized. Bubblemaps found that 63 percent of wallets trading the network's top 50 memes lost money, while a small group of early buyers made most of the profits.
CASHCAT generated multiple cases of seven-figure gains, including one wallet turning a $3000 position into $2.85 million. After Robinhood removed false promotional information, VLAD could still be traded, with its main liquidity pool holding approximately $247,000 in the latest market check.
