According to ChainCatcher, Token Pocket Chief Business Officer Michael said the Robinhood founder’s seed phrase was exposed during a livestream, allowing a hacker to gain control of the wallet address. Michael said the attacker then used that address and related wallets to buy large amounts of meme coin $1, drawing in thousands of follow-on buyers and pushing the token’s market value from about $500,000 to $14 million in a short period. The token later fell sharply, while trading volume reached about $20 million in just two hours. After the relevant address was frozen, the hacker allegedly moved to BNB Chain, issued a new token using that address and linked wallets, and created trading activity through self-dealing before cashing out. Michael also said Robinhood’s RPC froze the address, with nodes refusing to package transactions sent from it, leaving the wallet unable to transfer funds or trade.
Seed phrase exposure allegedly gave hacker control of a wallet
ChainCatcher reported that Token Pocket Chief Business Officer Michael said the Robinhood founder’s seed phrase was exposed during a livestream. After gaining control of the address, the hacker allegedly used that wallet and related addresses to buy large amounts of meme coin $1, pulling in thousands of investors and lifting the token’s market capitalization from about $500,000 to $14 million in a short period.
$1 later dropped sharply. Its trading volume reached about $20 million within two hours, according to the report.
Activity then shifted to BNB Chain after the address was frozen
Michael said that after the relevant address was frozen, the hacker quickly moved to BNB Chain, or BSC, where the same address and linked wallets were used to issue a new token. He said the attacker then created trading activity through self-buying and self-selling before selling into the market.
He also said Robinhood’s RPC had frozen the address. Nodes would not package transactions sent from it, which meant the wallet could neither transfer funds nor buy and sell assets.
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