Robinhood confirmed that CEO Vlad Tenev's X account was compromised and used to promote a fake VLAD meme coin on Robinhood Chain. The breach, which the company acknowledged publicly, turned Tenev's profile into a vehicle for a cryptocurrency scam.
The compromise
At some point, attackers took over Tenev's X account and posted a message touting a fraudulent token called VLAD. The post directed followers to Robinhood Chain, a blockchain platform, where the fake coin was supposedly available. Robinhood did not say when the hack occurred or how long the unauthorized post remained live.
Robinhood's response
The company confirmed the account takeover in a statement but offered few specifics. It did not say whether the post was removed immediately or if any users interacted with the scam. Robinhood also did not disclose what steps it took to secure Tenev's account after the incident. The company has not commented on whether law enforcement was notified.
The fake VLAD coin
The promoted token was a meme coin, a type of cryptocurrency that often relies on social media hype and carries little intrinsic value. Scammers frequently use hacked accounts to lend legitimacy to such coins, hoping to lure victims into buying before the token collapses. In this case, the coin was named after Tenev's own initials, a tactic designed to appear official.
It's unclear whether anyone purchased the fake VLAD token or if the scammers made off with any funds. Robinhood Chain, the platform cited in the post, is a relatively new blockchain network tied to the trading app. The company has not explained how the fake coin was listed or promoted on its chain.
The incident adds to a growing list of high-profile social media account takeovers used to push crypto scams. But for now, the key questions remain unanswered: How did the hackers get in, and what, if anything, did they gain?
