Binance co-CEO Yi He’s WeChat account was hacked shortly after her promotion during Blockchain Week. This allowed attackers to post endorsements for the memecoin MUBARA. Binance founder Changpeng Zhao confirmed the breach, cautioning users not to respond to messages from the compromised account. Yi He indicated she no longer has access to the account after the associated phone number was seized, highlighting persistent security risks in Web2 social platforms.
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!
— CZ 🔶 BNB (@cz_binance) December 10, 2025
On-chain analysis revealed that the attackers created two new wallets that purchased roughly 21.16 million MUBARA tokens using 19,479 USDT across PancakeSwap and related decentralized exchanges. As the fake endorsements circulated, the memecoin’s price and trading volume spiked sharply, demonstrating how social-engineering exploits can rapidly influence market behavior.
Pump-and-Dump Mechanics and Market Context
After inflating demand, the attackers offloaded 11.95 million MUBARA tokens for 43,520 USDT, retaining roughly 9.21 million tokens valued at $31,000. The sequence follows a recognized pattern in decentralized finance: exploiting high-profile accounts to trigger retail interest, then selling into the surge. Late traders, believing the posts reflected an official endorsement from a top Binance executive, incurred losses as the price reverted once selling commenced.
This incident underscores vulnerabilities at the intersection of social media and decentralized trading infrastructure. While the financial impact is modest relative to institutional crypto markets, it illustrates how compromised accounts can create localized volatility and erode confidence in tokenized assets among retail investors. Binance has not released additional commentary beyond Zhao’s public warnings.
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