Binance Founder Warns After Yi He’s WeChat Account Used in Meme Coin Scam

Highlights:

• Binance founder warned the community after Yi He’s hacked WeChat promoted an unknown meme coin.
• Hackers used a compromised account for a pump-and-dump scheme, causing a sudden trading surge.
• Incident highlights social media risks and the need for stronger security in crypto markets.

Binance founder Changpeng Zhao warned the crypto community that Yi He’s WeChat account had been hacked. The attackers used her account to promote a small and little-known meme coin, creating both concern and curiosity among traders. Zhao explained that older social media platforms are not very secure and urged everyone to remain safe while using them.

Someone hacked @heyibinance’s WeChat account. Do not buy meme coins from the hackers posts.

Web 2 social media security is not that strong.

Stay safu!

— CZ 🔶 BNB (@cz_binance) December 10, 2025

Yi He’s WeChat Hack Highlights Risks of Social Media and Account Security

Zhao also noted that his own account could become a target. He mentioned that he hasn’t used WeChat for many years and will not personally promote any meme coins. The warning highlighted the risks associated with outdated platforms and the need for careful behavior online. Yi He confirmed that she had abandoned WeChat long ago. The attackers had taken over her linked phone number, leaving her unable to recover access to the account. She reassured the public that she had no involvement in promoting the coin in any way.

The incident happened soon after Yi He became co-CEO at Binance during the recent Binance Blockchain Week, about a week ago. Co-founder Richard Teng called her a “driving force since day one” and said she helped shape Binance’s vision, culture, and focus on users. Her promotion shows Binance wants to grow its user base toward one billion.

Pump-and-Dump Scheme Drives Meme Coin Spike Amid Binance Leadership Change

Blockchain analysts quickly studied the hack. Lookonchain said it was a simple pump-and-dump scheme using a token called Mubarakah (MUBARA), which trades on decentralized exchanges. The hackers used the hacked account to push trading and make quick profits. The WeChat post caused a sudden rush of activity.

New wallets, created just hours before the hack, started buying MUBARA on PancakeSwap and other decentralized exchanges. Analysts recorded that about 19,479 USDT was spent to buy around 21.16 million MUBARA tokens. This caused a big rise in both price and trading volume.

Once the liquidity entered the market, the hackers started selling during the rush. Lookonchain’s data shows that 11.95 million MUBARA tokens were sold for 43,520 USDT. The remaining 9.21 million tokens, worth about $31,000, could still be sold for more profit as market demand continues.

Someone hacked @heyibinance's WeChat account, and posted about $Mubarakah, sending the token's price soaring. @cz_binance

The hacker created 2 new wallets(0x6739 and 0xD0B8) ~7 hours ago and spent 19,479 $USDT to buy 21.16M $Mubarakah.

After the pump, the hacker has already… pic.twitter.com/39ncDQjgSe

— Lookonchain (@lookonchain) December 10, 2025

The manipulation worked by acting before other traders. The hackers bought early and used the hacked WeChat account to encourage retail traders to buy MUBARA at higher prices. Those who bought later faced immediate risk as the attackers sold large amounts. This scheme shows how social media weaknesses can quickly affect the market.

According to analysts, the remaining tokens could trigger further price fluctuations if the liquidity remains, posing a risk to investors. This trading event highlights the issue of account security and how social media affects crypto trading.