The official Twitter account of the commission-free trading software Robinhood has been compromised to promote a fraudulent coin called $RBH on the BNB Chain.
Earlier on Wednesday, Robinhood‘s Twitter account was hacked and used to advertise the phony cryptocurrency project. The hackers announced the release of the new coin named $RBH, which they said could be purchased for $0.0005 on the Binance Smart Chain.
According to the hacker’s update, the cryptocurrency was offered for $0.0005 per unit. Of course, the BNB chain-based token is a honeypot fraud, which means that RBH token owners cannot sell or transfer them after purchasing them.
Before the link was removed, about 25 people bought the hoax token, according to Blockchain Explorer data. All in all, less than $8,000 was spent on the purchases.
Some Twitter users discovered that transactions had been routed to the fake account via Binance Hot Wallets after the attack was discovered.“our security team also noticed that and have locked the account pending further investigations,” said Changpeng Zhao, or CZ, the CEO of Binance, in reaction to the attack.
According to a chainanalysis assessment, crypto attacks increased quickly in 2022, totaling $3 billion in total assets loss for the year.
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