Home›Crypto›Market Structure›Robinhood CEO X account hijacked in memecoin scam

Robinhood CEO X account hijacked in memecoin scam

The fake “VLAD” token drew more than 175,000 views in under 20 minutes before it was flagged as a scam, and Robinhood Chain later labeled the contract address as fraudulent.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that a hacker reportedly took over Robinhood CEO Vlad Tenev’s X account on Thursday to promote a fake “VLAD” memecoin, posting what appeared to be a malicious token contract address.

The post drew more than 175,000 views in less than 20 minutes before users identified it as a scam and warned others not to interact with the token, according to Cointelegraph.

Robinhood had not confirmed the hack at the time of publication. Cointelegraph also notes that Robinhood has expanded into digital assets, including tokenized stocks, crypto staking, perpetual futures, and Robinhood Chain, but has never launched a memecoin.

The Block adds that Robinhood Chain’s cumulative DEX volume is about $9 billion, with activity primarily driven by higher-risk memecoins, citing Entropy Advisors. Cointelegraph further says the token address has been labeled as a scam on Robinhood Chain’s blockchain explorer.

More like this

Sources