Robinhood Founder's Mnemonic Phrase Live Leak, Hacker Pumps Meme Coin to $1 Before Address Gets Frozen

BlockBeats News, July 13th, Chief Business Officer of Token Pocket, Michael, stated in a post that during a live broadcast, the mnemonic phrase of Robinhood's founder was leaked. A hacker gained control of the address and used it, along with associated addresses, to heavily buy the Meme coin $1, causing a frenzy among thousands of investors who quickly jumped in. In a short period, the token's market cap surged from about $500,000 to $14 million.

Subsequently, the price of the $1 token experienced a sharp drop, with trading volume reaching approximately $20 million in just two hours. After the relevant address was frozen, the hacker promptly transferred to the BNB Chain (BSC), used the address and its associated addresses to create new tokens, and artificially generated trading activity through wash trading, ultimately engaging in a sell-off for cash-out.

The RPC of the Robinhood Chain has frozen this address. Nodes do not allow transactions from this address to be included in blocks, thus preventing transfers and trading.