Updated: 1 year
• Hackers hacked into the social media accounts of Robinhood, a prominent US online trading platform, to peddle a fraudulent coin called RBH on the Binance Smart Chain.
• The initial price of the token was $0.005 and the hackers were able to extract around $8,200 worth of BNB tokens.
• Binance CEO Changpeng Zhao disclosed that the account in question had been suspended.
Online trading platform Robinhood experienced a security breach on Wednesday, as hackers managed to gain access to their social media accounts. The perpetrators used the accounts to promote a fraudulent coin called RBH on the Binance Smart Chain, offering it with an initial price of $0.005.
The hacker also posted on Robinhood’s Instagram and Facebook profiles, which were quickly removed. An analysis of the token revealed that important information such as the creator and tokenomics were missing. According to internet inspector ZackXBT, the fraudsters were able to extract around $8,200 worth of BNB tokens.
In the wake of the incident, Binance CEO Changpeng Zhao took to Twitter to disclose that the account in question had been suspended. Robinhood representatives also commented on the breach, stating that they believe a third-party vendor was responsible for the attack.
The security breach serves as a reminder of the importance of keeping accounts secure, as well as the need to be vigilant when it comes to investing in digital assets. It is essential to do thorough research and obtain proper advice before investing in any cryptocurrency. Fortunately, Robinhood was able to quickly identify and contain the breach, preventing the hackers from doing any further damage.