Robinhood CEO Vlad Tenev's X account was hacked Thursday, spreading a fake memecoin called Vladhood on the Robinhood Chain. The company confirmed the breach and quickly removed the fraudulent post, but blockchain data reveals a wider scam brewing behind the scenes.
The token Vladhood (VLAD) was deployed less than an hour before the hacked tweet surfaced. Its creator has been steadily collecting trading fees without ever withdrawing liquidity, exploiting the platform's mechanics. Robinhood’s communications team announced the compromise roughly 41 minutes after the phony promotion appeared, stating they were working with X to regain control.
How the Fraud Worked
The scammer’s wallet appeared specifically for this scheme. It received 0.2955 ETH early Thursday from a source obscured by a cross-chain bridge, masking the origin. Shortly after, the wallet launched Vladhood through Pons, a popular launchpad on Robinhood Chain which locks liquidity but allows fee claims.
the token’s launch details misleadingly referenced Tenev’s official X profile as the token’s website, hinting the hack and token deployment were a coordinated plan rather than a mere opportunistic attack. Despite being labeled a scam on blockchain explorers, Vladhood saw over $22 million in trading volume across 85,000 swaps within hours, soaring over 90,000% from its initial price before dipping slightly.
Starting minutes after the fake post, the creator’s wallet claimed fees six times, pulling approximately 31.6 ETH (about $59,000) plus 72 million VLAD tokens worth roughly $188,000 at the current rate. The proceeds were then distributed to three fresh wallets. The last fee withdrawal happened late afternoon, indicating the scam was still active.
The locked liquidity means the token can still be traded, keeping the scheme alive even after detection. This scam exemplifies new risks emerging on chains like Robinhood Network, which hosts memecoins that can influence stock prices through tokenized shares such as seen recently.
This information is provided for awareness and is not investment advice.
