🚨 ! Hacker Compromises Yi He's WeChat Account for Pump and Dump of Mubarakah 💥💸
A hacker seized the WeChat account 💬 of Binance co-founder Yi He 🧑💻 to carry out a pump-and-dump scheme 📈📉 with the Mubarakah token, generating approximately $55,000 in profits. 💰
This incident highlights the growing concerns about market manipulation 🔗 through compromised social media accounts (Web2) attacking the Web3 space. 🌐
The Hack and the Meme Coin Scam 🤡
Breach: The hacker accessed Yi He's WeChat account and forwarded a modified article about the Mubarakah token. 📰
🚨👀 CZ's Warning: Changpeng Zhao confirmed the breach and warned: "Do not buy meme coins from hacker posts. The security of Web 2 social networks is not strong enough." 🛡️❌
Tracking the Fraudulent Operation 🔍
The analysis firm Lookonchain tracked the hacker's actions:
🔸Initial Purchase: The attacker used 19,479 USDT to acquire 21.16 million Mubarakah tokens at low prices. 🛒
🔹The Pump: Following the fraudulent post, the price of Mubarakah skyrocketed to a high of $0.008, an increase of nearly 200%. 🚀
🔸Sale and Profit: The hacker sold 11.95 million tokens for 43,520 USDT.
🔹Total Profit: Approximately $55,000. 🤑
Recurring Pattern 🚨
This incident follows the breach of Justin Sun's account (founder of Tron) and highlights a pattern: Attacking big names in Web3 through less secure Web2 platforms for theft. 🎯
The hijacking of social media accounts to promote crypto scams is a recurring problem, and the industry continues to struggle against phishing attacks. 💔
