Binance confirmed that the WeChat account of co-founder and co-CEO Yi He was compromised, with the hacker using it to promote a memecoin scam. The incident quickly stirred concern across the Chinese crypto community.

On-chain data shows the attacker used the hacked account to endorse the meme token $Mubarakah, triggering a 99% price spike to $0.001 within hours on DEXes like PancakeSwap. Before posting the pump message, the hacker used two newly created wallets (0x6739… and 0xD0B8…) to buy a total of 21.16 million $Mubarakah with 19,479 USDT.

As the price surged, the attacker sold 11.95 million tokens for 43,520 USDT, pocketing more than $55,000 in profit, while still holding 9.21 million tokens worth around $31,000.

CZ posted a warning on X confirming the hack, emphasizing that Web2 platforms like WeChat remain vulnerable and are often exploited for social-engineering scams. He urged users not to trust unexpected posts and to stay wary of pump-and-dump schemes driven by hijacked identities.