Robinhood CEO's X Account Hacked, Misused for Fake Meme Coin Promotion

The X account of Robinhood CEO Vlad Tenev was hacked and used to promote a fake meme coin called 'Bladhood (VLAD)', with the hacker reportedly making around $1.2 to $1.3 million. After issuing the VLAD token on the newly launched Robinhood Chain on July 23, the hacker posted on Tenev's compromised X account, claiming it was the 'official mascot of the Robinhood Chain' to lure investors. The token recorded a trading volume of $22 million within hours, and its price surged over 90,000%, reaching $0.0026. The number of holders reached 5,266, with 137,000 transactions. The hacker reportedly created the token using the Pons launchpad and exploited the platform's liquidity lock structure to repeatedly withdraw fees, securing 650 Ethereum (ETH). The Robinhood communications account announced the account breach about 40 minutes later, and X immediately deleted the post. The Robinhood Chain block explorer flagged the project as a 'potential scam.' This incident has garnered attention as it occurred shortly after Robinhood announced plans to include meme coins and real-world assets (RWA) in its ecosystem.

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