The X story of Robinhood CEO Vlad Tenev recently cheated with the work to promote the fake memecoin Vladhood (VLAD), and hackers make $1.2 million in sales.
On July 23, a malicious actor launched VLAD memecoin on the newly launched Robinhood Chain (Ethereum Layer-2 network). He then uploaded it to the official X page, calling it “Robinhood Chain’s official mascot”.
In just a few hours, the brand’s trading volume rose to $22 million. Its price rose more than 90,000% to trade at around $0.0026. The deal found 5,266 owners and 137,000 transfers on the Robinhood Chain.
In a simple move, the hacker could have removed all the money, leaving the consumer with worthless tokens. In this case, however, the attacker launched memecoin using the pons launchpad. The platform blocked all payments but allowed the token creator to withdraw trading fees, which is exactly what this hacker did. By repeatedly ordering the payment service, he was able to walk away with 650 ETH (worth about $1.2-$1.3 million at the time).
Answer
The Robinhood Communications X account saw a disconnection within 40 minutes of its execution, and. warned users about the same. Soon after, X removed the post from Vlad’s account and the Robinhood Chain blockchain researcher called the project a scam. At the time, several copycat VLAD tokens had been launched by copycat thieves.
Source: Robinhood Chain Block Explorer
In particular, Robinhood recently recognized the inclusion of memecoins in its ecosystem alongside real world assets (RWAs).
Yesterday’s attack helped this announcement, along with memecoin’s frenzy and the platform’s low payouts, to take action. It also coincided with the July 12 hacking of Starlink and SpaceX X accounts to promote another fake memecoin that was pulled by 2 million rug rugs.
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