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Robinhood confirms Twitter hack that Promoted Fraudulent Crypto Token

According to the firm, the compromise affected Instagram and Facebook.

In a statement written to CryptoSlate on Jan. 25, Robinhood stated that some of its social media accounts had been compromised earlier today.

According to a company representative:

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.

The corporation did not specify which provider was to blame.

During the unlawful intrusion, Robinhood’s official account promoted $RBH, a Binance Smart Chain-based coin. Though the token exists on the blockchain, it appears to exist only for use in today’s scam and has no formal affiliation with Robinhood.

Although $RBH has no intrinsic value, the address associated with the scam looks to be worth around 25.3 BNB ($7,750). Given that the account was created just today, this sum was most likely gained exclusively through the Robinhood fraud.

According to $RBH’s token contract, the counterfeit token is held by only 61 addresses.

Binance CEO Changpeng Zhao spoke out about the situation. He stated that Binance has locked an account associated with the scam and is looking into the problem.

Although Robinhood allows customers to trade and use cryptocurrency, including through its recently introduced self-custody wallet, the company has not released its own crypto token.


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