• Hackers broke through the social media accounts of Robinhood, a prominent US online trading platform, to peddle a fraudulent coin called RBH on the Binance Smart Chain.
• An analysis of the token reveals that creator and tokenomics information are missing.
• Binance CEO Changpeng Zhao disclosed on Twitter that the account in question had been suspended, and Robinhood has admitted that a third-party vendor was likely to blame for the breach.
Online trading platform Robinhood experienced a major security breach this week after hackers infiltrated the company’s social media accounts in order to peddle a fraudulent coin. The fake token, known as RBH, is on the Binance Smart Chain and had an initial price of $0.005.
Upon further analysis, it was discovered that the token lacked creator and tokenomics information, leading many to believe that it was a scam. This was corroborated when Binance CEO Changpeng Zhao tweeted that the account in question had been suspended.
Not only was the Robinhood Twitter account affected, but other social media profiles, including Facebook and Instagram, were also targeted. According to an analysis by internet inspector ZackXBT, the fraudsters were able to extract around $8,200 worth of BNB tokens.
In response, Robinhood released a statement admitting that a third-party vendor was likely responsible for the breach. They claimed that the unauthorized posts from the various social media profiles were removed within minutes.
The incident highlights the need for increased security measures in the cryptocurrency space, as well as the importance of being vigilant when it comes to digital assets. With the rise of cybercrime and hackers becoming more sophisticated, companies must take the necessary steps to protect their clients’ data and investments.
It remains to be seen how Robinhood will recover from this breach and if any legal action will be taken against the hackers. In the meantime, the company is urging customers to remain vigilant and to report any suspicious activity on their accounts.