Svmuu News: Michael, Chief Commercial Officer of Token Pocket, posted on X stating that the Robinhood founder’s mnemonic phrase was leaked during his live stream, After gaining control of the address, the hacker used it and associated addresses to buy large quantities of the meme token $1, prompting thousands of investors to follow suit and drive the token’s market cap from approximately $500,000 to $14 million in a short period.
Subsequently, the price of the $1 token plummeted, with trading volume reaching approximately $20 million over two hours. After the address was frozen, the hacker quickly moved to the BNB Chain, used that address and its associated addresses to issue new tokens, and generated trading activity through methods such as wash trading, ultimately selling off the tokens to cash out.
Currently, Robinhood’s RPC has frozen the address, and nodes are not allowed to include transactions sent from it in blocks; therefore, no transfers or trades can be made.