Hacker Compromises Yi He’s WeChat Account to Execute Mubarakah Token Pump and Dump
A hacker exploited Binance co-founder Yi He's WeChat account to promote the Mubarakah token, netting about $55,000 from a subsequent pump and dump.Summary
A hacker gained unauthorized access to the WeChat account of Yi He, co-founder of the cryptocurrency exchange Binance, to execute a pump-and-dump scheme involving the Mubarakah token. The attacker posted promotional content for the token, causing its price to surge nearly 200% to a new all-time high of $0.008. Blockchain analysis traced the hacker's actions, showing they acquired 21.16 million Mubarakah tokens using 19,479 USDT before the pump. Following the price surge, the hacker sold a portion of the tokens for 43,520 USDT, realizing approximately $55,000 in profit from the operation. Binance CEO Changpeng Zhao confirmed the breach, warning users about the weak security of traditional Web2 social media platforms and urging caution against buying tokens promoted by the hacker.
(Source：BeInCrypto)