An anonymous group or individual has infiltrated the Twitter account associated with the cryptocurrency and stock trading platform, Robinhood, to advertise a bogus ‘token’.
On Jan. 25, many crypto Twitter users reported that Robinhood had issued a tweet asking its 1.1 million followers to contribute $0.0005 each to purchase a token called “RBH” for Binance Smart Chain. Conor Grogan, head of stock trading at Coinbase, noted that only 10 people had bought the fake token for approximately $1,000 prior to the tweet being removed.
In response, Binance CEO Changpeng Zhao stated that the account had been blocked by the company’s security team “pending further investigation.” At the time of publication, the tweet was no longer visible on the Robinhood account.
“Always exercise caution even [if] the account looks or is real,” said CZ.
Robinhood’s Twitter profile was hacked and the hacker posted a tweet urging people to invest in a “fake token”. We are currently looking into the incident and have blocked the account pending further investigation.
— Robinhood (@RobinhoodApp) January 25, 2021
Robinhood’s Twitter page was hacked and the hacker sent out a tweet asking people to purchase a “fake token”. The company is investigating the incident and have temporarily blocked the account until further investigation.
It appears that hackers have taken control of the Robinhood app’s Twitter account, using it to advertise a fraudulent token. The incident occurred on January 25, 2023, when the platform falsely claimed that a token was not immediately linked to the account.
The app does allow users to sell and purchase a variety of cryptocurrencies, but shares of the company’s HOOD token can be used to buy publicity for the organization. At the time of writing, the token was trading at $9.71 on the Nasdaq.
The incident is reminiscent of the July 2020 hack that saw numerous high-profile Twitter accounts used to scam Bitcoin (BTC) holders, promising to double any crypto they received. Tesla CEO Elon Musk’s account was also compromised, leading to the platform being acquired by the US government and the implementation of stricter security policies.
Cointelegraph reached out to Robinhood for comment but had not received a response at the time of writing.
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