Meme Coin Chaos: Yi He’s WeChat Account Hijacked in Crypto Pump-and-Dump Scheme

Another day, another crypto scam—this time with a high-profile twist.

Social Media Breach Sparks Frenzy

A hijacked WeChat account belonging to Binance co-founder Yi He sent shockwaves through crypto circles. The compromised profile pushed a suspicious meme coin, triggering the classic pump-and-dump playbook before anyone could say 'rug pull.'

The Anatomy of a Modern Scam

Attackers bypassed security measures to seize control of the account. They blasted promotional messages to thousands of followers, artificially inflating the token's value before executing their exit strategy—leaving retail investors holding worthless digital bags.

Security Wake-Up Call

The incident exposes critical vulnerabilities where personal and professional platforms intersect. It's a stark reminder that in crypto's wild west, even industry titans aren't immune to digital bandits looking for a quick score.

Regulatory Gray Zone

While traditional finance regulators scramble to keep pace, these schemes operate in jurisdictional limbo—proving once again that where there's speculative frenzy, there's someone ready to exploit it with Silicon Valley efficiency.

The episode cuts through crypto's decentralization rhetoric, revealing how centralized points of failure—like a single social media account—can still manipulate markets. Just another reminder that in the meme coin casino, the house always wins... until its WeChat gets hacked.

TLDR

• Hackers hijack Binance’s Yi He’s account to pump MUBARA coin, causing chaos.
• Yi He’s WeChat hack leads to $55K profit from MUBARA coin pump-and-dump.
• Binance warns users after Yi He’s account is exploited for MUBARA promotion.
• Hackers exploit Yi He’s social media to inflate MUBARA coin prices in a scheme.
• Yi He’s WeChat breach highlights Web2 social media security risks in crypto.

The WeChat account of Binance’s newly appointed co-CEO, Yi He, was recently compromised. Hackers used the account to promote a little-known meme coin, Mubarakah (MUBARA), triggering a sudden price surge. The attackers used Yi He’s name to create a fake endorsement, which led to a pump-and-dump scheme on decentralized exchanges.

Attackers Exploit Yi He’s Account to Fuel the Meme Coin Surge

The breach occurred late on a Tuesday, with the hackers using Yi He’s account to circulate endorsements for MUBARA. As news of the promotion spread, it created a fear of missing out (FOMO) among traders. The price of the token skyrocketed, driven by the flood of retail buyers reacting to the apparent endorsement from Yi He.

Binance founder Changpeng Zhao alerted users to the hack, warning them not to engage with the posts. Zhao emphasized the vulnerability of Web2 social media security, stating that it is not as strong as it should be. He also advised followers to stay cautious and refrain from promoting meme coins, including MUBARA.

Mubarakah (MUBARA) Token’s Price and Volume Surge Amid the Hack

As the WeChat promotion spread, attackers quickly set up new wallets to buy MUBARA using decentralized exchanges like PancakeSwap. They spent a total of 19,479 USDT to purchase approximately 21.16 million tokens. Within hours, the price of MUBARA surged, with trading volumes spiking sharply as more traders joined the hype.

Once the price reached a certain level, the attackers began selling their holdings into the market rally. They sold around 11.95 million MUBARA for 43,520 USDT, leaving them with 9.21 million tokens. The total profit from this pump-and-dump scheme is estimated at around $55,000, with more tokens left to sell.

Yi He Responds to the WeChat Hack: Personal Account Taken Over

Yi He confirmed that she had not used her WeChat account in years and was unaware of the breach. The attackers had seized control of the phone number linked to her account, making it impossible for her to regain access. The hack occurred shortly after her promotion to co-CEO of Binance, which marked a significant leadership change at the company.

Binance co-founder Richard Teng praised Yi He’s leadership and her contributions to shaping the exchange’s vision and culture. He emphasized that her promotion was a natural progression for the company as it strives to reach one billion users. Despite the hack, Yi He’s track record at Binance remains solid, with her work central to the exchange’s growth and direction.