On July 13, PANews reported that Michael, Chief Business Officer of Token Pocket, stated on X that Vlad Tenev, founder of Robinhood, had his mnemonic phrase leaked during a live stream. After hackers gained control of the address, they used it and associated addresses to purchase the $1 token, prompting thousands of users to follow suit. The token’s market cap rapidly surged from approximately $5 million to $14 million, before crashing sharply, with trading volume reaching around $20 million within two hours. After the relevant addresses were frozen, the hackers moved to BNB Chain, issued new tokens using those addresses and associated addresses, conducted trading operations, and ultimately dumped the tokens to cash out.
Robinhood founder's mnemonic phrase leaked during live stream; hacker manipulates meme coin and sells for profit
PANewsShare
Summary
Robinhood founder Vlad Tenev’s mnemonic phrase was accidentally leaked during a live stream, allowing a hacker to take control of his wallet. The attacker purchased a $1 meme coin, triggering widespread FOMO and driving its market cap from $500,000 to $14 million within hours. The token later collapsed, recording $20 million in trading volume over two hours. After addresses were frozen, the hacker migrated to BNB Chain, created a new altcoin, and sold it for profit. The incident has significantly increased the Fear & Greed Index among retail traders.
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