Robinhood CEO Vlad Tenev's X account was compromised Thursday, with attackers using it to promote a fake memecoin called 'Vladhood' on the Robinhood Chain. The company confirmed the breach, but the hacker is still collecting funds from the scheme.
How the hack unfolded
The operation was set in motion hours before the account was taken over. Onchain records show the attacker created the 'Vladhood' token and prepared promotional posts in advance. Once they gained access to Tenev's account, they published the posts, driving traffic to the token. The scam exploited Tenev's credibility as CEO of a major trading platform.
Blockchain data indicates the hacker continues to receive fees from transactions involving the fake token. The total amount collected remains unclear, but the scheme is still active as of Friday morning.
Robinhood's response
Robinhood acknowledged the incident in a brief statement, confirming that Tenev's X account was compromised. The company said it is working with X's security team to investigate the breach and secure the account. No further details were provided about how the attackers gained access or whether any other accounts were affected.
The company urged users to avoid engaging with any posts or links from the compromised account until it is restored. Robinhood did not say whether it plans to compensate users who may have lost money in the scam.
The fake token
The 'Vladhood' token was promoted as a legitimate memecoin on Robinhood Chain, a blockchain platform associated with the trading app. However, Robinhood has not endorsed or launched any such token. The hacker's wallet address remains active, and onchain analysts have tracked ongoing fee collection.
It is unclear how many people fell for the scam or how much money was raised. The incident highlights the risks of social media account takeovers in the crypto space, where a single post can trigger a wave of speculative trading.
As of now, Tenev's account has not been fully restored. The hacker's posts remain visible on his profile, though some have been flagged as suspicious by X's automated systems. Robinhood has not announced a timeline for regaining control.
