The X account of Robinhood CEO Vlad Tenev was compromised on Thursday and used to promote a fraudulent memecoin called Vladhood ($VLAD). The post falsely claimed the token would be listed in the Robinhood app before it was deleted.
Robinhood confirmed the breach through its communications account on X. The company stated that Tenev's account had been compromised and posted a fake promotion for a meme coin. It added that the firm was working with X to restore access.
The deleted post described $VLAD as the official Robinhood chain mascot and included a blockchain wallet address. It read in part: "Does Robinhood love memes? The answer is yes." The post drew more than 175,000 views in under 20 minutes.
The incident occurred as Robinhood's newly launched blockchain network has attracted more than $700 million in assets. The network has also seen heavy speculative trading in memecoins since debuting earlier this month.
