Robinhood CEO Vlad Tenev’s X account hijacked for $10M memecoin scam

The unauthorized post appeared at approximately 17:24 UTC, masquerading as an official endorsement of a token named VLAD, which the attackers falsely labeled the 'official Robinhood Chain mascot.' By leveraging the CEO’s platform, the perpetrators successfully enticed followers to a contract deployed minutes earlier. Onchain data indicates that insiders offloaded their holdings during the rapid price inflation, securing over $1 million in profits before Robinhood’s security team forced the removal of the promotional material.

This incident mirrors a rising trend of social-media account takeovers targeting high-profile crypto executives, a vulnerability previously highlighted by Binance co-founder Changpeng Zhao. Despite the swift deletion of the post and subsequent warnings from Robinhood, the token continued to circulate on the network. The scheme underscores the heightened speculative environment surrounding the newly launched Robinhood Chain, which has become a magnet for high-risk trading activity. While the layer-2 network was engineered for real-world asset tokenization, it has generated millions in revenue largely through the volatile memecoin ecosystem.