Robinhood Founder’s Mnemonic Phrase Leaks During a Live Stream; Hackers Exploit the Leak to Hype Meme Coin $1, and the Associated Address Was Subsequently Frozen.
1 hours ago
Token Pocket Chief Business Officer Michael posted that the seed phrase of Robinhood’s founder was leaked during his live stream. Hackers gained control over the address, then used it and associated addresses to purchase large volumes of the meme coin $1, prompting thousands of investors to follow suit. This drove the token’s market cap from roughly $500,000 to $14 million in a short period. The $1 token’s price then plummeted, with its trading volume hitting around $20 million in just two hours. After the relevant address was frozen, hackers quickly moved to BNB Chain (BSC), issued new tokens using that address and its associated addresses, created trading hype through wash trading, and eventually dumped the tokens to cash out. Robinhood’s RPC has frozen the address, with nodes refusing to include transactions from it, making transfers and trading impossible.
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