Binance co-CEO Yi He’s old WeChat account was hacked on December 9, allowing scammers to push a memecoin called MUBARA in a coordinated pump-and-dump.
Summary
- Yi He’s old WeChat account was hacked and used to promote the memecoin MUBARA.
- Data from the chain shows coordinated purchases before the scam posts and profit-taking during the surge.
- CZ and Yi He warned users to ignore the messages and avoid the token.
Binance co-CEO Yi He, recently appointed to serve alongside Richard Teng, was targeted in a hack involving an unused WeChat account linked to an old phone number.
The account was taken over late on December 9 and was used to share posts portraying MUBARA, also known as Mubarakah, as a sign of strong upside. Since many of her contacts operate in crypto-active circles, the messages quickly generated interest and sent traders rushing to the market.
How the plan unfolded
Lookonchain traced the activity to two new wallets that quietly purchased approximately 21.16 million MUBARA for 19,479 USDT approximately seven hours before the scam messages appeared. As the messages circulated, the token rose from around $0.001 to $0.008 within minutes, pushing its market value to $8 million and seeing heavy trading on BNB Chain’s decentralized exchanges.
Once there was liquidity, the wallets started selling. By the morning of December 10, the attackers had sold 11.95 million tokens for 43,520 USDT, leaving 9.21 million tokens worth approximately $31,000. The estimated profit is around $55,000, although unsold assets could increase that number.
After the exits started, the token fell by more than 60%. Several KOLs on
Comments from CZ and Yi He
Binance founder Chang Peng Zhao urged users to ignore the messages circulating from He’s account and used the incident to warn about the weak security standards of web2 platforms. Yi He confirmed the breach and said the account had been abandoned and could not be recovered.
She asked followers to avoid any token promotions associated with it. The incident highlights how weaknesses in social platforms can penetrate the crypto markets, especially on networks like WeChat that remain active in China’s trading communities.
#Binance #coCEO #Hes #WeChat #hacked #promote #MUBARA #coin