Binance co-CEO Yi He’s old WeChat account was hacked on Dec. 9, allowing scammers to push a memecoin called MUBARA in a coordinated pump-and-dump.
Summary
- Yi He’s old WeChat account was hacked and used to promote the memecoin MUBARA.
- On-chain data shows coordinated buying before the scam posts and profit-taking during the surge.
- CZ and Yi He warned users to ignore the messages and avoid the token.
Binance co-CEO Yi He, newly appointed to serve alongside Richard Teng, became the target of a hack involving an unused WeChat account tied to an old phone number.
The account was taken over late on Dec. 9 and used to share posts that painted MUBARA, also called Mubarakah, as a token with strong upside. Since many of her contacts operate in crypto-active circles, the posts created quick interest and sent traders rushing into the market.
How the scheme unfolded
Lookonchain traced the activity to two new wallets that quietly bought about 21.16 million MUBARA for 19,479 USDT roughly seven hours before the scam posts appeared. As the messages circulated, the token rose from around $0.001 to $0.008 within minutes, pushing its market value to $8 million and driving heavy trading on BNB Chain decentralized exchanges.
Once liquidity arrived, the wallets began selling. By the morning of Dec. 10, the attackers had sold 11.95 million tokens for 43,520 USDT, leaving 9.21 million tokens still worth about $31,000. Estimated profits sit near $55,000, though unsold holdings could increase that number.
After the exits began, the token fell over 60%. Several KOLs on X noted wallet activity that suggests front-running by traders who seemed aware of the coming posts.
Responses from CZ and Yi He
Binance founder Chang Peng Zhao urged users to ignore messages circulating from He’s account and used the incident to warn about the weak security standards of web2 platforms. Yi He confirmed the breach and said the account had been abandoned and could not be recovered.
She asked followers to avoid any token promotions linked to it. The incident shows how social-platform weaknesses can ripple into crypto markets, especially on networks like WeChat that remain active in China’s trading communities.
