Robinhood confirms hack on Twitter pushing fake crypto

Robinhood confirmed in a statement that its social media accounts were hacked on January 25.

The company said that the unauthorized posts were removed within minutes and that they believe the source of the incident was via a third party vendor, but did not specify which vendor may have been responsible.

The hack saw Robinhood’s official account promote a fraudulent Binance Smart Chain-based token called $RBH, which has no official relationship with Robinhood and appears to exist solely for use in the scam.

The address responsible for the scam holds approximately $7,750 and was created today. The Binance CEO commented on the incident and said that Binance has locked an account connected to the scam and is investigating the matter.

Robinhood allows users to trade and use cryptocurrency but has not issued any crypto token of its own.