• Hackers broke through the social media accounts of Robinhood, a prominent US online trading platform, to peddle a fraudulent coin.
• An analysis of the token reveals that creator and tokenomics information are missing.
• Robinhood admitted that, based on their current investigation, they suspect a third-party vendor was responsible for the breach.
A recent security breach at Robinhood, a prominent US online trading platform, has revealed the malicious intent of hackers. The hackers targeted the social media accounts of the platform in order to peddle a fraudulent coin. Dubbed RBH, the fake token was announced on Binance Smart Chain with an initial price of $0.005.
Upon further inspection of the token, it was discovered that key information such as creator and tokenomics information were missing. This suggested that the coin was not legitimate and could potentially be used to scam users. In response to this, the account released a tweet announcing the debut of the suspicious coin on BSC.
The fraudulent scheme didn’t stop there. Hackers were also able to penetrate other social media profiles of Robinhood, including Instagram and Facebook. An analysis of the token provided by internet inspector ZackXBT revealed that the hackers were able to extract around $8,200 worth of BNB tokens.
In response to the incident, Binance CEO Changpeng Zhao took to Twitter to announce that the account in question had been suspended. Furthermore, a representative from Robinhood admitted that the hacker had posted on the platform’s other social media accounts and that they were removed within minutes. The representative also went on to say that they suspect a third-party vendor was responsible for the breach.
The attack on Robinhood’s social media accounts serves as a reminder of the importance of security and the need to protect against malicious actors. As the cryptocurrency space continues to grow, it is essential that users remain vigilant and take extra precautions when dealing with digital assets. It is also important that platforms take the necessary steps to ensure the safety and security of their users.