Hackers Exploit Old Account to Push Suspicious Token
Yi He, the recently appointed co-CEO of Binance, became the target of a WeChat account breach that promoted a questionable meme coin. The incident surfaced between December 9 and 10, 2025, after hackers took control of her long-unused account and used it to market a token called MUBARA. The promotion quickly attracted attention because it appeared to come from a well-known crypto executive.
On-Chain Data Reveals Pump and Dump Pattern
Blockchain analysts observed that the attackers created fresh wallets and spent about 19,479 USDT to buy roughly 21.16 million MUBARA tokens. Their purchases came right after the fraudulent promotion. This move pushed the token’s trading volume higher and convinced unsuspecting traders that demand was real. However, the pattern strongly resembled a classic pump and dump scheme that aimed to capitalize on Yi He’s reputation.
Former Binance CEO Changpeng Zhao issued a warning to the community and reminded users that traditional Web2 platforms still present serious security risks. He added that Yi He no longer used the compromised account and could not recover it because the phone number linked to it had been taken over.
Rising Concerns for Crypto Executives
The hack highlights the growing threat facing public figures in crypto. Even when executives stop using certain platforms, abandoned accounts can still become valuable targets. As more leaders in the industry maintain public profiles, attackers gain new opportunities to exploit weak points in Web2 services.
For Binance, the event arrives during a transition to a dual leadership structure. Yi He now oversees product and user operations, while Richard Teng handles regulatory strategy. The company aims to reinforce its position during a period of rapid growth and heightened regulatory pressure.
The incident serves as a reminder that strong cybersecurity must cover both Web3 systems and traditional online accounts. Many industry voices now expect renewed calls for tighter identity protections, multi-factor authentication, and better executive account management.
