A new online scam has hit the crypto community after hackers took over Binance co-CEO Yi He’s WeChat account. The hackers used the hijacked account to promote a fake memecoin, making about $55,000 from the pump-and-dump scheme.
This incident has raised worries about weak security on social platforms and the growing trend of scams targeting crypto leaders.
WeChat Hack Leads to $55K Pump-and-Dump Scam
The incident came to light when Binance founder and ex-CEO Changpeng (CZ) Zhao warned users on X that Yi He’s WeChat account had been compromised. He urged the community not to buy any memecoin promoted through the account.
The founder reminded everyone that security on older social platforms is not that strong. Soon after, Yi He affirmed she had not used the account for a long time. She also stated that the phone number linked to it had been taken over by attackers. This allowed the scammers to post as her and mislead the public.
Blockchain analytics platform Lookonchain traced the attackers’ steps. Hours before the fake posts appeared, the hacker created two new wallets. The bad actor then began buying large amounts of MUBARA, a memecoin, on PancakeSwap.
Reportedly, the unknown exploiter spent $19,479 to buy 21.16 million MUBARA, which pushed the price from $0.001 to $0.008 in minutes. As the price jumped and trading activity increased, the token’s market cap briefly hit $8 million.
The attacker sold 11.95 million tokens for $43,520 and still held 9.21 million worth $31,000, making total profits around $55,000.
Rising MemeCoin Hype Fuels a Wave of WeChat Hacks
MUBARA is a meme-based crypto asset that became popular in early 2025 due to its fast price movements and strong community buzz. However, its rise has also made it an easy tool for scammers.
The hijacking of Yi He’s account is the latest in a growing number of WeChat hacks involving top crypto names. On November 30, Tron founder Justin Sun faced a similar attack, showing a clear and worrying pattern.
Members of the crypto community on X have described these repeated attacks as hacker competitions. Observers note that the attackers are not only targeting on-chain networks but are increasingly focusing on off-chain platforms like WeChat.
CZ also commented on the trend, stressing that he would never endorse a memecoin through such channels.
Yi He Regains WeChat Account, But Threats Remain
Yi He has now regained control of her WeChat profile after going through external verification and resetting her password. However, she warned that the attackers are still trying to exploit the platform’s feedback issues.
They even attempted to add her as a friend again. The event highlights the growing risks faced by public figures in crypto. It also shows how scammers continue to use meme tokens and weak social-media security to deceive users.