Binance Co-CEO Yi He’s WeChat Account Hacked to Push Meme Coin MUBARA

A recent incident involving Binance co-CEO Yi He's WeChat account has drawn the attention of the crypto community. Binance founder Changpeng Zhao reported that the account was hacked late Tuesday evening and used to promote the little-known memecoin MUBARA. The hack morphed into a pump-and-dump scheme that briefly led to a sharp rise in the asset's price on some decentralized exchanges.

Incident Details

Zhao claimed that the attackers used the hacked account to spread endorsements of the memecoin and urged users to ignore the messages. He emphasized the importance of social media security, noting:

>>>> "Web2 social media security is not that strong. Be careful! Don't buy memecoins from hackers' posts." <<<<

Yi He also confirmed that she no longer uses WeChat and that the phone number associated with the account had been hacked, preventing her from regaining access.

Time of the Hack

The hack occurred less than a week after Yi He was appointed co-CEO during the Blockchain Week event. This highlights how quickly attackers can exploit social media vulnerabilities for their own purposes.

Hacking Methods

Blockchain data shows that the hack quickly escalated from a social engineering attack to exploiting a trading vulnerability. Analytics account Lookonchain identified two newly created wallets that accumulated approximately 21.16 million MUBARA tokens—a little-known memecoin—on decentralized exchanges, spending 19,479 USDT on PancakeSwap and related platforms.

Trading Results

As the fake endorsement spread through WeChat channels, trading volume and the price of MUBARA spiked on Dexscreener charts. Wallets then began closing positions as new liquidity arrived.

According to Lookonchain data, the attacker has already sold 11.95 million MUBARA tokens for 43,520 USDT and still holds an additional 9.21 million tokens, worth approximately...

In Conclusion

This incident highlights the importance of security in the cryptocurrency space and the need to exercise caution when dealing with new and little-known tokens. Users should be wary of information sources and avoid investments based on dubious recommendations, especially in highly volatile market conditions.