Binance Co-CEO Yi He’s WeChat Account Hacked to Promote Memecoin
- Yi He’s WeChat account was hacked, promoting the memecoin MUBARA.
- The attackers used the account to endorse MUBARA, causing its price to surge on decentralized exchanges.
- On-chain data revealed that approximately 21.16 million MUBARA tokens were acquired for about 19,479 USDT.
- The hacker sold over half of the tokens (11.95 million) for around $43,520 USDT, with remaining tokens valued at approximately $31,000.
- Changpeng Zhao warned users on X to avoid buying meme coins from compromised accounts.
The hack highlights vulnerabilities in Web2 social media security and demonstrates how compromised accounts can manipulate trading activity in cryptocurrencies like memecoins. The incident occurred shortly after Yi He was appointed co-CEO of Binance during Blockchain Week.
Following the breach, profits from the hack reached nearly $55,000 as attackers exploited retail demand triggered by false endorsements.(Source)
