According to multiple sources, Robinhood’s Twitter account was allegedly hacked on Wednesday, January 25, 2023. The account posted a tweet promoting a Binance Smart Chain token listed on decentralized exchange Pancakeswap. An analysis of the situation on the blockchain shows that the token received less than $1,000 in purchases before Robinhood removed the tweet.
Onchain analysis reveals limited impact of scam tweet shared by Robinhood’s Twitter account
On Wednesday afternoon around 12:30 p.m. ET, Twitter users were what is discussed how to Robinhood verified Twitter account, @robinhoodapp, which bears a gold checkmark, posted a fraudulent tweet. Robinhood has since deleted the tweet, but it can be seen via a snapshot from archive.org and the various screenshots being shared on Twitter.
The tweet read: “Reminder, we are launching our NEW TOKEN ($RBH) on Binance Smart Chain. It will be live at 12 AM EST. You can be among the first to buy at a starting price of $0.0005.” The tweet, which originated from the @Robinhoodapp account, also included a link to the Pancakeswap platform, where the Binance Smart Chain (BSC) token is listed.
“Oh my gosh,” one Twitter user wrote on Wednesday. “Robinhood’s Twitter account has been hacked. They are posting links for some crypto giveaway shit**. No one is safe in this world,” added the individual. “Robinhood’s official Twitter account appears to have been hacked,” another account commented On twitter.
Conor Grogan, a Coinbase employee who tweets about chain movements as a hobby, also tweeted about the scam. “It appears that Robinhood’s social media was hacked,” the on-chain investigator noted on Twitter. “They only got ~10 people to bite the scam token before the link was removed.” Grogan added:
So far, the token has only seen (less than) $1000 in purchases. I would imagine that the people crowding in now saw the volume increase and are looking for a thrill.
The Twitter account @Robinhoodapp has yet to tweet about the issue or confirm whether or not the account was hacked. The account has a total of 1.1 million followers on the social media platform. This story is developing and may be updated later.
What do you think should be done to prevent such hacking and scamming incidents on social media platforms? Share your thoughts in the comments below.
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