Binance Co-CEO Yi He’s WeChat Account Hacked to Push Meme Coin MUBARA
Binance Co-CEO Yi He's WeChat account was hacked and used to promote the MUBARA memecoin in a pump-and-dump scheme.Summary
Binance founder Changpeng Zhao announced that the WeChat account of newly appointed Co-CEO Yi He was compromised and used by attackers to promote the little-known MUBARA memecoin, resulting in a pump-and-dump scheme. Zhao warned users to ignore the posts, noting that Web2 social media security is weak. Yi He confirmed the breach, stating the associated phone number was taken over, preventing her from regaining access. On-chain analysis revealed that two new wallets acquired a significant amount of MUBARA tokens before the fake endorsement spread, causing the price and trading volume to spike. The attackers then sold off their holdings, netting an estimated profit of around $55,000, while late retail traders who bought into the surge were left with losses as the price quickly reversed.
(Source：CoinDesk)