The official Twitter account of the commission-free trading app Robinhood has been hacked to promote a scam token called $RBH on BNB Chain.
The cryptocurrency was available for $0.0005 a pop, according to the announcement made by the hacker.
Of course, the BNB Chain-based token is just a honeypot scam, which means that the owners of RBH tokens cannot actually sell or transfer them after making a purchase.
Fortunately, it seems like very few people bought into the scam before the fake link posted by Robinhood’s Twitter account was taken down.According to on-chain sleuth ZachXBT, the attacker managed to make only 23.5 BNB (roughly $7,000).
Binance CEO Changpeng Zhao took note of the incident, urging users to always use critical thinking “even if the account looks or is real.”
It is not rare for Twitter accounts to get compromised by hackers who want to promote cryptocurrency scams. This has happened multiple times in the past, with scammers exploiting hacked accounts to send out tweets containing malicious links which could lead to phishing attacks or malware downloads. As is often the case with online fraud, many of these scams involve convincing users to part with their money through enticing offers such as free crypto.
To protect themselves from such schemes, users should remain vigilant when it comes to online activities and regularly verify that any link given on Twitter is legitimate before clicking on it.