Token Pocket Chief Business Officer Michael said on July 13 that a Robinhood founder’s seed phrase was exposed during a livestream, allowing a hacker to take control of the wallet address. Using that wallet and linked addresses, the attacker heavily bought Meme token $1 and drew in thousands of followers, pushing its market capitalization from about $500,000 to $14 million in a short span. The token then fell sharply, while trading volume reached about $20 million in just two hours.
Michael said that after the related address was frozen, the hacker moved to BNB Chain and used the same address and connected wallets to issue a new token. He said the attacker created trading activity through self-dealing and then sold into the market for profit. According to his post, Robinhood’s RPC has frozen the address, and nodes are no longer allowing transactions sent from it to be packaged, leaving the wallet unable to transfer funds or trade.
Wallet tied to leaked seed phrase was used to drive up $1
According to BlockBeats, Token Pocket Chief Business Officer Michael said on July 13 that a Robinhood founder’s seed phrase was exposed during a livestream. After gaining control of the address, a hacker used that wallet and related addresses to buy large amounts of Meme token $1, drawing in thousands of investors and pushing 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.
Hacker shifted to BNB Chain after the address was frozen
Michael said the attacker then moved to BNB Chain after the related address was frozen. Using that address and linked wallets, the hacker issued a new token, created trading activity through wash-style self-buying and self-selling, and eventually sold for cash.
He added that Robinhood’s RPC has frozen the address. Nodes are not allowing transactions sent from it to be packaged, which means the wallet cannot transfer funds or carry out trades.
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