Twitter Users Spot Crypto Scam Tweet About Verified Robinhood Account, Company Removes BlockBlog Post

According to multiple sources, Robinhood’s Twitter account was hacked on Wednesday, January 25, 2023. The account posted a tweet promoting a Binance Smart Chain token listed on the decentralized exchange Pancakeswap. An analysis of the situation on the blockchain shows that the token received less than $1,000 in purchases before Robinhood deleted the tweet.

Onchain analysis reveals limited impact of scam tweet shared by Robinhood’s Twitter account

On Wednesday afternoon around 12:30 p.m. EST, Twitter users were discuss how robinhood verified twitter account, @Robinhoodapp, which bears a gold checkmark, posted a fraudulent tweet. Robinhood has since deleted the tweet, but it can be viewed via a snapshot and the various screenshots shared on Twitter.

The tweet read: “Reminder, we are launching our NEW TOKEN ($RBH) on the Binance Smart Chain. Will be live at 12:00 a.m. EST. You can be among the first to buy at a starting price of $0.0005. The tweet, which came from the @Robinhoodapp account, also included a link to the Pancakeswap platform, where the Binance Smart Chain (BSC) token is listed.

The now-deleted tweet shared by Robinhood’s official Twitter account on Wednesday.

“Oh my God”, a Twitter user wrote Wednesday. “Robinhood’s Twitter account has been hacked. They post links for a crypto sh** giveaway. No one is safe in this world,” the individual added. “The official Robinhood Twitter account appears to have been hacked”, another account noticed on Twitter.

Conor Grogan, a Coinbase employee who tweets about onchain moves as a hobby, also tweeted about the scam. “Looks like Robinhood’s social media has been hacked,” the channel researcher noted on Twitter. “They only got about 10 people bitten on the scam token before the link was removed.” Grogan added:

So far the token has only seen [less than] $1,000 in purchases. I imagine people thronging now have seen the volume spike and are looking for a thrill.

The @Robinhoodapp Twitter account has yet to tweet about the issue or confirm whether or not the account has been hacked. The account has a total of 1.1 million followers on the social media platform. This story is under development and may be updated in the future.

Keywords in this story

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What do you think needs to be done to prevent such incidents of hacking and scams on social media platforms? Share your opinion in the comments below.

Jamie Redman

Jamie Redman is the news manager for News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about disruptive protocols emerging today.

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