Cryptocurrency

Robinhood confirms Twitter hack that promoted fraudulent crypto token

Robinhood confirmed in a statement emailed to CryptoSlate on January 25 that several of its social media accounts were compromised earlier today.

A company representative said:

We were aware of unauthorized posts from Robinhood’s Twitter, Instagram, and Facebook profiles, which were all removed within minutes. At this time, based on our ongoing investigation, we believe the source of the incident was a third party her vendor.

The company did not say which vendor may have been responsible.

A fraudulent compromise has found Robinhood’s official account promoting a Binance Smart Chain-based token called $RBH. While that token exists on-chain, it appears to have no official affiliation with Robinhood and exist solely for use in today’s scams.

$RBH itself has no value, but address Holds approximately 25.3 BNB ($7,750) which is believed to be involved in fraud. Given that the account was created today, this amount could have been earned entirely through a Robinhood scam.

of $RBH token contract shows that only 61 addresses hold bad tokens.

Binance CEO Changpeng Zhao commented on the incidentHe said Binance has locked accounts related to the scam and is investigating the matter.

Robinhood enables users to trade and use cryptocurrencies. This includes using a recently launched self-custody wallet, but does not issue its own crypto tokens.

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