Token Pocket Chief Business Officer: Robinhood Founder's Seed Phrase Leaked During Livestream, Address Has Been Frozen

Odaily Planet Daily News Token Pocket Chief Business Officer Michael posted on platform X that the seed phrase of the Robinhood founder was leaked during his livestream. After gaining control of the address, hackers used it and associated addresses to buy large amounts of the meme token $1, prompting thousands of investors to follow suit. The token's market cap was quickly driven from approximately $500,000 to $14 million in a short period.

Subsequently, the price of the $1 token dropped sharply, with two-hour trading volume reaching approximately $20 million. After the address was frozen, the hacker quickly moved to BNB Chain, used this address and associated addresses to issue new tokens, generated trading activity through methods like wash trading, and ultimately dumped tokens for cash.

Currently, Robinhood's RPC has frozen the address. The node does not allow transactions initiated from this address to be packaged, making transfers as well as buying and selling impossible.