Robinhood CEO Vlad Tenev Hacked to Push Scam Token

The X account of Robinhood CEO Vlad Tenev was compromised this Thursday. The attackers used the high profile account to promote a new token called VLAD. The posts falsely claimed the token was the official mascot of the Robinhood Chain and would be listed on the popular trading app.

While the posts were deleted quickly, the damage was already done. Data from on chain trackers shows the scam generated roughly 650 ETH, worth about $1.2 million. The token has been flagged as a scam, and the official Robinhood channels remained silent throughout the incident, which served as a major red flag for observant traders.

This incident highlights a growing issue on the Robinhood Chain, which launched in July. While the network is designed for tokenized assets, it has become a hotbed for risky meme coin activity. Recent reports indicate that speculative trading has pushed the network to record volumes, creating a target rich environment for scammers.

This attack follows a similar pattern seen earlier this month involving the CEO of Coinbase. Investors should remain cautious and remember that official announcements regarding new listings or chain mascots will always come through verified corporate channels rather than individual executive accounts.