Home›Crypto›Market Structure›Fake Vladhood token kept collecting trading fees after…

Fake Vladhood token kept collecting trading fees after Robinhood CEO hack

Onchain data cited by The Defiant shows the scam token’s wallet claimed fees multiple times for roughly two hours after the promoted post went live, netting about 31.6 ETH.

Reported · Written up by our desk · Market Structure

Robinhood confirmed that its CEO, Vlad Tenev, had his X account compromised on Thursday and that the account was used to promote a fake memecoin on Robinhood Chain. The company said it was working with X to restore access and that the post had been removed.

According to The Defiant, onchain records indicate the token, Vladhood (VLAD), was deployed about 46 minutes before the hacked promotion appeared, suggesting the token launch and the account takeover were coordinated. In the hours after the post, the token drew more than $22 million in trading volume and about 85,000 swaps in its main Uniswap pool, according to DexScreener.

TheDefiant reports that Vladhood was trading at roughly $0.0026 with a fully diluted valuation near $2.6 million as of 3:55 pm ET. The token had 5,266 holders and more than 137,000 transfers on Robinhood Chain, and Block explorers labeled the contract as a scam.

TheDefiant adds that the wallet behind Vladhood, labeled 0xD706…438D, was created for the occasion, received only 0.2955 ETH for funding, and then used a launch structure that allowed fee collection without pulling liquidity. Starting seven minutes after the fake post, the wallet called a locker's fee collection function six times over roughly two hours, netting about 31.6 ETH, worth roughly $59,000, plus about 72 million VLAD, about 7% of supply, worth about $188,000 at current prices, Blockscout data shows.

Latest closeEthereum $1,880.91 ▼2.7%

More like this

Sources