• Robinhood confirmed today that its social media accounts were hacked by a third party vendor.
• The hack saw the company’s official account promote a Binance Smart Chain-based token called $RBH, which does not have any official relationship with Robinhood.
• Binance CEO Changpeng Zhao commented on the incident, saying that Binance has locked an account connected to the scam and is investigating the matter.
Today, Robinhood revealed that its social media accounts had been breached by a third party vendor. The unauthorized breach saw Robinhood’s official account promote a Binance Smart Chain-based token called $RBH, which has no official relationship with the company.
The token contract indicates that around 61 addresses hold the fraudulent token, with the responsible address holding approximately 25.3 BNB ($7,750). This amount was likely earned entirely through the Robinhood scam.
In a statement sent to CryptoSlate, a company representative said: “We’re aware of the unauthorized posts from Robinhood 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 via a third party vendor.”
Binance CEO Changpeng Zhao commented on the incident, saying that Binance had locked an account connected to the scam and was investigating the matter.
Robinhood allows users to trade and use cryptocurrency, including through its recently-launched self-custody wallet, but has not issued any crypto token of its own. The company has not disclosed any further information regarding the breach, but is continuing its investigation into the incident.