In the latest cyber attack, Robinhood Vlad Tenev’s X account has been compromised, which was also confirmed by Robinhood’s official team a few minutes ago.
Robinhood Comms said in post on X that “our X account of CEO Vlad Tenev was compromised and he posted fake ads for meme money. We are working with X to restore access and the post has been removed.”
Hacker Promotes Fake Robinhood Chain Mascot Token
According to what happened, the thief tried to cheat Followers of Vlad Tenev for promoting fake memecoin tokens. In the fake post, the hacker promoted Vladhood ($VLAD) as Robinhood’s official mascot.
The post was also made with false promises regarding its circulation on the newly launched Robinhood Chain. “Most importantly, we believe this is another step in bringing more interest to the Robinhood Chain, which we are focused on in Q3 and Q4,” he said in the post.
Memecoin Trend Expands Chain Operations on Robinhood Chain
Robinhood Chain, and Part 2 The blockchain, which was launched on July 1, is seeing significant growth, which is mainly due to the trading of memecoin. It’s ironic that networks built primarily around real-world assets and tokenized stocks, but virtual assets like memecoins have boosted the chain’s TVL ahead of its established competitors in the larger space.
The biggest memecoin option to date is Cashcat, a memecoin inspired by Robinhood’s original “Cash Cat” mascot. CASHCAT has brought a lot of money to the chain as it has risen in the hundreds and even hit more than 1,000% in some cases. However, these ideas are slowly disappearing, and now they are seeing a big fall. In the last 7 days, the price of CASHCAT has lost almost 50% due to heavy selling. At the time of writing, CASHCAT is trading in rounds $0.04245 with a market capitalization of $42.45 million, according to CoinMarketCap price.
However, the memecoin system on the Robinhood Chain has led to trading on the chain with tens of millions daily and thousands of active traders. Vlad Tenev he said,”While we’re building the Robinhood Chain to be the best RWA chain…it also works for memes..” The Pump.fun integration also made it easier for developers to launch new brands online.
Memecoin’s performance on the Robinhood Chain has helped it beat Base in daily users, hitting nearly 324,000 DAUs while Base lagged behind in key days. Apart from this, sales have also reached millions per day. Its DEX volume also made a record after crossing $800 million in one day.
Token stocks are also becoming a major growth stream for the Robinhood Chain. According to on-chain metrics, the daily number of shares distributed reached a record high of 141,120, with a total of 37,520 daily shareholders. The blockchain network is witnessing the growing demand for day and night trading of products such as Nvidia, Tesla, and Apple through Stock Tokens. According to rwa.xyzThe Distributed Asset Value on the blockchain is now around $20.48 million.
Apart from this, the total value of the lock has increased more than $308 million in the new high of all time, according to DeFiLlama. This increase in chain volume is supported by stablecoins and DeFi partnerships such as Morpho lending.
Robinhood Chain is an open, Ethereum-compatible Layer 2 that runs on ETH gas. It uses Arbitrum technology to achieve a block time of 100ms. Although memecoins are playing a major role in current affairs and users, the tokenized securities they are also constantly growing.
In the middle of the clarity of the movement management kani35ngane939999gwegwegwegwe bolanga – 014/06/2019 2013 December 2019, 2019 rise above $1.92 billion. Robinhood already has a large user base in over 120 countries through its Web3 wallet. This is expected to make the network one of the leading blockchain networks for popular stocks in the coming period.
