Token Pocket Chief Business Officer Michael said on X that a Robinhood founder’s seed phrase was exposed during a livestream, allowing a hacker to take control of the wallet. Using that address and related wallets, the attacker heavily bought Meme token $1, drawing in thousands of followers and pushing its market cap from about $500,000 to $14 million in a short period. Michael said the token later fell sharply, while trading volume reached about $20 million in two hours.
He added that after the address was frozen, the attacker moved to BNB Chain, launched a new token with the same wallet and related addresses, and used self-trading to create activity before selling into the market. According to Michael, Robinhood’s RPC has frozen the address, and nodes are no longer allowing transactions sent from it to be packaged, which means the wallet cannot transfer funds or trade.
Token Pocket Chief Business Officer Michael said on X that a Robinhood founder’s seed phrase was exposed during a livestream, giving a hacker control of the wallet.
According to Michael, the attacker used that address and related wallets to buy large amounts of Meme token $1. The activity drew in thousands of investors and lifted the token’s market cap from about $500,000 to $14 million in a short span. Michael said $1 later dropped sharply, and its two-hour trading volume reached about $20 million.
Attacker later moved to BNB Chain
Michael said that after the address was frozen, the hacker quickly shifted to BNB Chain, issued a new token with the same address and related wallets, and created trading activity through self-trading before cashing out.
He added that Robinhood’s RPC has frozen the address. Nodes are not allowing transactions sent from the wallet to be packaged, so it can no longer transfer funds or trade.
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