Binance Co-CEO Account Hacked, Used to Push Pump-and-Dump Memecoin MUBARA
An old social media account belonging to Binance co-CEO was hacked on December 9, enabling scammers to promote a fraudulent memecoin called MUBARA in what appears to be a coordinated pump-and-dump scheme. The compromised account posted promotional messages urging users to buy the token, triggering a rapid price spike.
On-chain analysis revealed suspicious activity, including coordinated purchases shortly before the scam posts were published and profit-taking during the artificial surge. This pattern suggests the attackers had pre-positioned wallets to capitalize on the manipulated hype.
Both former Binance CEO Changpeng Zhao (CZ) and Yi He quickly warned the community to ignore the posts and avoid interacting with the MUBARA token. They emphasized that the messages were unauthorized and urged users to remain cautious, especially when unknown assets are promoted through compromised accounts.
The incident underscores the increasing sophistication of crypto-related phishing, account takeovers, and memecoin-driven scams targeting large online communities.
