Key Highlights
- A hacker exploited Binance Co-CEO Yi He’s WeChat to pump $Mubarakah, profiting $55K and showing the risks of social media in crypto.
- WeChat and social accounts of top crypto leaders remain prime targets, as off-chain hacks can trigger rapid price swings and trader losses.
- Binance leadership changes coincide with security breaches, highlighting the need for stronger protections beyond blockchain platforms.
A hacker took control of Binance Co-CEO Yi He’s WeChat account to manipulate the meme token $Mubarakah, turning a quick profit of around $55,000. The attacker’s posts triggered a sharp price spike, as retail traders rushed in, mistaking the messages for an official endorsement.
Blockchain tracker Lookonchain says the hacker set up two wallets and used 19,479 USDT to buy 21.16 million $Mubarakah tokens. They sold nearly 12 million tokens for 43,520 USDT and kept about 9.2 million tokens, worth roughly 31,000 USDT. Altogether, the hacker made around $55,000.
Binance Co-Founder Changpeng Zhao confirmed the breach on X, advising, “Do not buy meme coins from the hackers posts. Web 2 social media security is not that strong. Stay safu!” The attack follows a familiar pattern: hackers trigger retail demand via compromised high-profile accounts, then sell during the surge. Late traders often suffer losses as prices quickly reverse.
Social media security exploits continue
This incident mirrors a previous case in late November when TRON Founder Justin Sun’s WeChat was hacked. As Snowball, a crypto commentator, explained: “Following the incident on November 30 where Brother Sun Justin Sun’s WeChat was hacked, Big Sis HeyiBinance’s WeChat was also hacked today. Both are using the method of posting Meme shitcoins in Moments to scam people.” He added that hackers seem to target top Web3 leaders’ accounts, often accessing passwords or SIM card data to execute theft.
Earlier, BNB Chain suffered a similar breach in October. Their official account was restored after multiple phishing attempts and a malicious contract deployment. The attack stole $8,000 across all chains, with one user losing $6,500.
CZ described the breach as carefully orchestrated, noting, “Hacker got $13k. Security team(s) still tracking, with a possible linked KYC. Hacker went through all these trouble, plus criminal liability. He could have made more by building.” These incidents highlight the gap between social media security and crypto platform protection.
Moreover, last year, Canadian rapper Drake’s X account was compromised to promote a fraudulent Solana-based meme coin, “$ANITA,” leveraging his brand to attract unsuspecting traders. Such cases show that social media remains a critical vulnerability for high-profile crypto figures, often leading to off-chain financial exploitation.
Leadership changes amid security concerns
The hack comes days after Binance revealed changes in its leadership during Binance Blockchain Week. Yi He has been promoted to Co-CEO alongside Richard Teng. Teng praised her role, saying, “Yi has been an integral part of the executive leadership team since the launch of Binance. Her innovative and user-focused approach has been instrumental in shaping the company’s vision, culture, and bottom-up business strategy.”
Yi He highlighted the teamwork between herself and Richard Teng, saying, “I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate crypto in its early days.” Together, they are focused on growing Binance worldwide while keeping users safe and supporting a more open financial system.
