{"id":371603,"date":"2023-01-26T09:37:09","date_gmt":"2023-01-26T14:37:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=371603"},"modified":"2023-01-26T09:37:09","modified_gmt":"2023-01-26T14:37:09","slug":"hackers-hijack-robinhood-twitter-to-push-scam-crypto-coin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/hackers-hijack-robinhood-twitter-to-push-scam-crypto-coin","title":{"rendered":"Hackers Hijack RobinHood Twitter To Push Scam Crypto Coin"},"content":{"rendered":"

In a recent crypto fiasco, attackers used the social media accounts of prominent US online trading site Robinhood to spread the word about a fake cryptocurrency. Changpeng Zhao, CEO of Binance<\/a>, claims that the incident-related account has been closed.<\/p>\n

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RobinhoodApp, the site’s official Twitter account, reminded its 1.1 million followers on Wednesday that the RHB token was being launched on Binance Smart Chain and that customers could buy coins for $0.0005. It also contained a link to the token’s listing on the PancakeSwap<\/a> platform.<\/p>\n

While Robinhood declined to address the attack on its platform, it did so in a discussion thread of another user’s article, stating that Twitter was not the only account impacted and writing: “We are aware of the unlawful tweets, Instagram postings, and Facebook updates from the Robinhood profiles that were quickly deleted.” Currently, based on the results of our continuing investigation, we think the problem was caused by a third-party vendor.<\/p>\n

Although the earlier post has now been taken down, an archive.org copy of it is still accessible, and several people had taken pictures of it before the article was taken down.<\/p>\n

The event involved Binance and its blockchain, so Zhao, also known as CZ, the exchange’s CEO, declared that the problematic account had been frozen and that an investigation was ongoing. CZ said, “Always exercise critical thinking, even if the account appears to be true.” Conor Grogan, the director of product company operations at prominent cryptocurrency exchange Coinbase<\/a>, stated that before the tweet was deleted, roughly 10 individuals had purchased the token for about $1,000.<\/p>\n

Meanwhile, Sam Bankman-Fried, the founder as well as previous CEO of the failing FTX exchange<\/a>, and Gary Wang, the other co-founder of FTX, had their challenged 56 million assets of Robinhood, valued at over $500 million, taken by the US Justice Department earlier in January.<\/p>\n

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To Promote a Scam, Hackers take control of the Robinhood Twitter Account<\/b><\/h2>\n

On Wednesday, hackers broke into the Robinhood exchange’s Twitter account. In a now-deleted tweet, the compromised account was employed to promote a fraud selling digital tokens as well as NFTs<\/a> here on Binance Smart Chain via the decentralized exchange PancakeSwap.<\/p>\n

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Also compromised were Robinhood’s other social media accounts. Internet sleuth ZackXBT published a Binance Smart Network analysis that revealed that the scammers managed to escape with 26.95 BNB coins, or around $8,200. The wallet that benefited from the fraud, according to ZackXBT, was housed on the Binance blockchain exchange. The profile had been locked pending additional investigation, said Changpeng “CZ” Zhao, CEO of Binance.<\/p>\n

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We’re aware of the unauthorized posts from Robinhood Twitter, Instagram, and Facebook profiles, which were all removed within minutes. At this time, based on our ongoing investigation, we believe the source of the incident was via a third party vendor.<\/p>\n

— Robinhood (@RobinhoodApp) January 25, 2023<\/a><\/p><\/blockquote>\n