On the night of Tuesday (10), Yi He's account — recently appointed co-CEO of Binance — on the Chinese app WeChat was hacked. According to Changpeng “CZ” Zhao, founder of the cryptocurrency exchange, the criminals used the profile to promote a little-known memecoin.
The objective of the invaders was to apply the pump-and-dump scheme: they took advantage of the executive's credibility to induce investors to believe that the MUBARA token was backed by Binance, artificially inflating its price. After the sudden appreciation observed on some decentralized platforms, the scammers disposed of the coins and disappeared with the money.
CZ warned that hackers published false recommendations about the memecoin and urged users not to pay attention to the messages. On his account on X, he reinforced: “The security of Web2 social networks is not so robust. Protect yourselves! Do not buy memecoins promoted by hackers.”
Yi He stated that she no longer uses WeChat and that the phone number associated with her account was compromised, which made it impossible for her to recover access.
According to the analysis company Lookonchain, two newly created digital wallets gathered approximately 21.16 million MUBARA tokens — a little-known memecoin on decentralized platforms — after spending 19.479 USDT on PancakeSwap and other linked networks.
As the invaders promoted the memecoin on the co-CEO of Binance's channels and the information spread across various groups, the price and trading volume skyrocketed. In this scenario, wallets began to liquidate part of the assets as liquidity grew.
According to Lookonchain, the person responsible for the action has already sold 11,95 million MUBARA for 43.520 USDT and still holds 9,21 million tokens, valued at around $31,000. Considering the amount that can still be sold, the estimated profit reaches approximately $55,000.
The episode occurs a few days after Binance announced Yi He as co-CEO. So far, the company has not officially commented on the case.