PancakeSwap, a multichain decentralized exchange originating from BNB Chain, confirmed that its official X Chinese account had been compromised on October 8, 2025.
As per the update, PancakeSwap said that it is working to resolve the hack. The post also urged users not to click any links or engage with posts from the compromised account.
The hack came to light when the attackers used the account to promote a fake token called “Sir Pancake,” which generated more than $20 million in trading volume before the scam was caught. The hackers also promoted fake airdrops and a “Mr Pancake” meme token, directing users to counterfeit websites designed to mimic the official PancakeSwap platform.
The hackers deceived users through phishing, creating websites that were almost identical to PancakeSwap’s actual site. They also used little tricks such as substituting letters in website addresses to mislead people. Any user who linked their wallets to these websites risked losing money immediately.
Despite the attack, PancakeSwap assured that neither user funds nor platform assets were touched. The team moved swiftly, removing the deceptive posts and advising users to rely only on official account announcements. Investigations continue, and PancakeSwap is taking steps to enhance account security to avoid future attacks.
Surprisingly, the news of the hack did not adversely affect PancakeSwap’s token, CAKE. According to CoinMarketCap, the token price rose 10% in 24 hours, reaching $4.34, with trading volume jumping by up to 80%.
Social media crypto scams on the rise
This incident follows a similar breach on October 1, when BNB Chain’s official X account was hacked. Hackers posted phishing links promising fake $BSC rewards to trick users into connecting their wallets.
Binance Co-Founder Changpeng “CZ” Zhao and the BNB Chain team urged users not to click any links and to rely only on verified channels while they worked to regain control.
Both attacks underscore a rising trend of social media-targeted scams within the crypto universe, underscoring user awareness and strong account security for platforms as well as their communities.
