Robinhood Confirms Twitter Hack That Promoted Fraudulent Crypto Token

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Robinhood confirmed that several of its social media accounts had been hacked earlier today in a statement emailed to CryptoSlate on January 25.

A company representative said:

Were aware of unauthorized posts from Robinhood’s Twitter, Instagram and Facebook profiles, all of which were removed within minutes. At this time, based on our ongoing investigation, we believe the source of the incident was a third party vendor.

The company did not say which supplier might have been responsible.

The unauthorized breach saw Robinhood’s official account promoting a Binance Smart Chain-based token called $RBH. Although this token exists on-chain, it has no official relationship with Robinhood and appears to only exist to be used in today’s scam.

Although $RBH has no value on its own, the address that appears to be responsible for the scam holds approximately 25.3 BNB ($7,750). Since the account was created earlier today, it is likely that this amount was entirely earned through the Robinhood scam.

The $RBH token contract indicates that only 61 addresses hold the fraudulent token.

Binance CEO Changpeng Zhao commented on the incident. He said Binance had locked an account linked to the scam and was investigating the matter.

Robinhood allows users to trade and use cryptocurrency, including through its recently launched self-custody wallet, but has not issued any crypto tokens.

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