- Binance co-CEO Yi He’s WeChat account was hacked to promote a memecoin scam.
- The breach triggered a pump-and-dump scheme on decentralized exchanges.
- Hackers accumulated and sold millions of MUBARA tokens for an estimated $55,000 profit.
- Yi He lost control of her WeChat account and stopped using the platform.
- Binance warned users to avoid buying tokens promoted through the compromised account.
Binance co-CEO Yi He had her WeChat account hacked on Tuesday. The attackers used the account to promote a little-known memecoin, causing a short-lived surge in its price on decentralized exchanges. Binance founder Changpeng Zhao warned users not to trust such messages or buy the meme coins promoted through the compromised account.
“Web2 social media security is not that strong. Stay safu!” Zhao wrote on X, adding, “Do not buy meme coins from the Hackers posts.”
Following the breach, Yi He reported she no longer uses WeChat because the phone number linked to her account was taken over, blocking her access. The hack occurred shortly after Binance announced her as co-CEO during their Blockchain Week event.
Blockchain data shows the hack extended into a trading exploit. The analytics account Lookonchain tracked two newly created wallets that purchased approximately 21.16 million MUBARA tokens. The attackers spent about $19,500 to acquire the tokens through PancakeSwap and related decentralized finance routes.
As the fake endorsements spread on WeChat, MUBARA’s trading volume and price sharply increased on Dexscreener. The hackers then sold 11.95 million tokens for $43,500. They still hold roughly 9.21 million tokens, valued near $31,000, with profits estimated close to $55,000 so far.
This method follows a common pump-and-dump scheme pattern: attackers buy tokens early, use a compromised high-profile account to fuel retail demand, and then sell during the price spike. Late investors who acted on the false endorsement suffered losses after the price collapsed.
Binance has not made additional statements beyond the warnings issued by Zhao and Yi He.
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