Token Pocket Chief Business Officer: Robinhood Founder's Seed Phrase Leaked During Live Stream, Address Now Frozen

Odaily reported that Michael, Chief Business Officer of Token Pocket, stated on platform X that Robinhood founder's seed phrase was leaked during a live stream. After gaining control of the address, the hacker used it and associated addresses to heavily purchase the Meme token $1, prompting thousands of investors to follow suit. In a short time, the token's market cap quickly surged from approximately $500,000 to $14 million.

Subsequently, the price of the $1 token dropped sharply, with two-hour trading volume reaching around $20 million. After the address was frozen, the hacker quickly moved to the BNB Chain, using the address and its associated addresses to issue a new token. They created trading activity through tactics like wash trading, ultimately dumping the tokens for profit.

Currently, Robinhood's RPC has frozen the address, and the node does not allow transactions originating from this address to be packaged, making transfers, purchases, or sales impossible.