Robinhood, the popular online brokerage, confirmed that its social media accounts were hacked on Jan. 25, with the hacker promoting a fraudulent cryptocurrency token called $RBH.
The company stated that it believes the source of the incident was via a third-party vendor, but did not specify which vendor may have been responsible.
Furthermore, the unauthorized breach saw Robinhood’s official account promoting the token, which is based on the Binance Smart Chain, but has no official relationship with Robinhood.
The address associated with the scam appears to have earned $7,750 from the scam, and the token contract shows that only 61 addresses hold the fraudulent token.
Binance CEO Changpeng Zhao 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.