The WeChat account of the newly appointed co-CEO of Binance, Yi He, was hacked on Tuesday. The news came directly from Binance founder Changpeng Zhao (CZ) as he explained that the account of the new co-CEO was hacked to promote the MUBARA meme coin. The hackers wanted to breach the account and use it for a pump-and-dump scheme that briefly sent the asset surging on some decentralized exchanges.
CZ revealed that the attacker used the compromised account to circulate meme coin endorsements and urged the users to ignore the messages. He said in a post on X.com, “Someone hacked Yi He’s WeChat account. Do not buy meme coins from the hackers posts. We 2 social media security is not that strong. Stay safu!”
Someone hacked @heyibinance’s WeChat account. Do not buy meme coins from the hackers posts. Web 2 social media security is not that strong.Stay safu!
WeChat Account of Yi He Hacked
Yi He revealed that she does not use WeChat anymore and that the phone number tied to that account was taken over. She was unable to regain access to the account. This hacking attack comes less than a week after Binance revealed that Yi He has been promoted to the co-CEO position during Binance’s Blockchain Week event.
The on-chain data revealed that the hack quickly turned from a social media breach to a trading exploit. Lookonchain, an analytics account, identified two newly created wallets that accumulated roughly 21.16 million MUBARA tokens. The wallets spent a total of 19,479 USDT across PancakeSwap and related routes.
The trading volume and Price for MUBARA spiked briefly on Dexcscreener charts after the fake endorsements spread through the WeChat channels. The wallets then offloaded the position as fresh liquidity reached the market.
According to Lookonchain, the attacker sold 11.95 million MUBARA for 43,520 USDT while still holding 9.21 million tokens, worth roughly $31,000, leaving profits near $55,000 and remaining inventory yet to be sold.
The sequence reflects a well-known pattern in crypto-related exploits. The hackers quietly purchase a low-liquid token, drive the demand through a compromised influencer or executive account, and then rapidly sell as unsuspecting traders join in the trend. Late traders were left exposed as the price reversed almost immediately once the selling began.
Binance has not issued further comments beyond the warning issued by CZ and Yi He. However, the incident underscores the ongoing challenges in securing legacy social platforms tied to major figures in the digital asset space.
