worth 55 thousand dollars using a meme coin.
CZ warned users against buying the tokens promoted from the hacked account and urged caution regarding Web2 security issues.
Yi He's account, the co-CEO of Binance, was hacked on WeChat this week and used to promote a meme coin called MUBARA.
The incident resulted in a stock market fraud, where the scammers obtained nearly 55,000 dollars.
The project for pumping and dumping wastewater in MUBARA.
Changpeng Zhao (CZ), the founder of Binance, was the first to alert users via platform X about the hacking of the executive director's account on WeChat. CZ urged the cryptocurrency community not to buy any fake cryptocurrencies promoted in the posts, warning that "the security of social media online is not strong enough. Stay safe!"
On the other hand, Yi He confirmed that she had not used the platform for a while, and the number associated with her had been seized by the attackers. The blockchain analytics platform "Lookonchain" revealed that the hacker created two new wallets hours before the promotional content was published and began accumulating MUBARA through the PancakeSwap platform.
The data on the blockchain indicates that they exploited this activity to carry out a price manipulation operation. The attacker spent 19,479 dollars to purchase 21.16 million tokens, leading to a significant increase in the token's price. The token's price rose from around 0.001 dollars to 0.008 dollars within minutes, reaching a market capitalization of about 8 million dollars, resulting in heavy trading on the BNB platform.
Lookonchain estimates that they have already sold 11.95 million MUBARA for 43,520 dollars and are still holding 9.21 million tokens worth 31,000 dollars, bringing total profits to about 55,000 dollars.
MUBARA is a meme-based cryptocurrency that gained popularity in early 2025 due to its price movements and the buzz it generated within communities, and it was officially listed on the Binance Alpha platform in March through the BNB Chain Launchpad Four Meme.
