Binance co-founder Yi He’s old WeChat messenger account got entangled in a quick meme coin pump & dump scheme. The freshly-appointed Binance co-CEO had her account stolen late on Wednesday night. Notably, the culprits took advantage of the compromised phone number attached to the inactive profile.
Hacker’s Bi-Folded Memecoin Stunt Nets $55K In Minutes
Minutes after taking over, the cyber bandits took the opportunity to promote a meme coin with the ticker Mubarakah. To carry out the fraudulent deed, the black-hat hackers created two new crypto currency wallets & bought 21.16M of the said tokens for $19,479 in USDT. Then, the meme coin whipped up over 500% gains, despite still being over 80% down from all-time high.
Despite Binance’s co-founder Changpeng ‘CZ’ Zhao notifying his X audience about the incident on Yi He’s WeChat account, the hackers still managed to land a $55K profit. After the audience on WeChat aped into the Mubarakah token, the meme coin mafia went on to sell 11.95 million.
Both of these crypto wallets have been identified by the on-chain sleuths at LookOnChain, finding out that the hacker still keeps 9.21 million of the low-cap meme coin. This portrays a case of FOMO, a psychological phenomenon where traders invest solely on hype, without second-guessing the legitimacy of the digital asset.
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Binance co-CEO Yi He’s dormant WeChat account was hacked on December 9, 2025, and exploited to post fake endorsements promoting the memecoin Mubarakah (MUBARA), triggering a classic pump-and-dump scheme.
The attackers created two new wallets, spent about $19,479 in USDT to buy 21.16 million MUBARA tokens, pumped the price over 900% via the posts, then sold portions for a net profit of around $55,000, holding the rest valued at $31,000.
Binance founder CZ warned users on X not to buy memecoins from the hacked posts, emphasizing weak Web2 security and urging caution; Yi He confirmed she no longer uses WeChat and recovered the account via external verification.
Yi He had stopped using WeChat long ago, but the linked phone number was compromised, blocking her access and allowing hackers to take full control for the promotional posts.
The hack targeted a personal, unused account and had no impact on Binance’s systems or Yi He’s role; it highlights broader risks of social media in crypto but prompted internal reviews on executive account security.
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