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CZ warned users not to buy coins promoted from the hacked account and urged caution with Web2 security issues.
Binance co-CEO Yi He’s WeChat account was hijacked this week and used to promote a meme coin called Mubarak (MUBARA).
The incident has resulted in a pump-and-dump scheme that netted scammers approximately $55,000.
MUBARA Pump-and-Dump Scheme
Binance founder Changpeng Zhao (CZ) was the first to alert users via X that the executive’s WeChat account had been compromised. CZ urged the crypto community not to buy any meme coins promoted in the posts, warning that “Web 2 social media security is not that strong. Stay safu!”
On the other hand, Yi He confirmed that she hasn’t used the platform for a while and that the associated number had been taken over by the attackers. Blockchain analytics platform Lookonchain revealed that hours before posting the promotional content, the hacker created two new wallets and began accumulating MUBARA via PancakeSwap.
On-chain data suggests they used this activity to run a pump-and-dump scheme. The attacker spent $19,479 to purchase 21.16 million tokens, triggering a price rally. The token rose from around $0.001 to $0.008 within minutes, pushing its market cap to around $8 million, which resulted in it being heavily traded on BNB.
Lookonchain estimates that they have already sold 11.95 million MUBARA for $43,520 and still hold 9.21 million tokens worth $31,000, bringing total profits to roughly $55,000.
MUBARA is a meme-based cryptocurrency that gained popularity in early 2025 due to its price movements and community-driven hype, and was officially listed on Binance Alpha in March through the BNB Chain Launchpad platform Four Meme.
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Pattern of Similar Hacks
This occurrence is the most recent in a series of hacks targeting WeChat accounts of prominent crypto figures, a trend that stands out for its repeated use of meme tokens to defraud users. In a similar case, Tron founder Justin Sun’s account was compromised on November 30, showing a clear pattern in the attackers’ methods.
The crypto X community has described these events as intense on-chain “hacker competitions” that are now spilling into off-chain platforms. CZ commented on the development, noting that he hoped the next compromised profile wouldn’t be his because he hasn’t used the social platform for many years. He also clarified that he would not directly endorse any meme coins on the platform.
Following the latest development, Yi He has shared that her profile has been successfully recovered after external verification that led to the password being changed.
However, she pointed out that the bad actors are reportedly still lurking, exploiting feedback issues, and attempting to add her as a friend.
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