Robinhood CEO Vlad Tenev's account on X, formerly Twitter, was compromised Wednesday. The hacker used the account to promote a fraudulent memecoin called 'VLAD' and posted what appeared to be a malicious token contract address.
The breach was first noticed by users who saw a post from Tenev's account urging followers to buy the newly created token. The post included a contract address that security researchers later flagged as potentially harmful. It is unclear how many people clicked the link or if any funds were stolen.
What the hacker posted
The unauthorized post claimed that Robinhood was launching a memecoin called VLAD, named after the CEO. It included a token contract address on the Solana blockchain. Security experts warned that the address could be used to drain wallets or perform other malicious actions. The post remained visible for a short time before being deleted.
Robinhood has not yet issued a public statement about the incident. Tenev's account has since been secured, and the company is likely investigating how the breach occurred. The account did not have two-factor authentication enabled, according to some reports, but that detail has not been confirmed.
Memecoin scams on social media
This type of attack is not new. High-profile accounts on X have been hijacked before to promote cryptocurrency scams. In 2020, several prominent accounts, including those of Elon Musk and Joe Biden, were compromised in a Bitcoin scam. The recent incident involving Tenev follows a similar pattern: a fake token, a sense of urgency, and a link to a potentially dangerous contract.
The 'VLAD' token itself appears to have been created shortly before the hack. Blockchain data shows it had minimal trading volume and was likely a pump-and-dump scheme. The contract address posted by the hacker may have been designed to steal funds from anyone who interacted with it.
What users should do
Anyone who clicked the link or interacted with the contract address should revoke permissions and monitor their wallets. Security experts recommend using a hardware wallet for large holdings and never trusting token promotions from social media accounts, even if they appear legitimate.
Robinhood has not confirmed whether any user funds were affected. The company's security team is likely reviewing the incident. Users should rely only on official Robinhood communications for token launches or promotions.
