Hackers compromised the X account of Robinhood CEO Vlad Tenev on July 23. They promoted a fraudulent memecoin called Vladhood ($VLAD). The unauthorized post falsely claimed the token was the "official Robinhood Chain mascot." It also stated the token would soon list on the Robinhood platform. The post encouraged Tenev's followers to buy the token.
Robinhood's communications team quickly confirmed the breach. The team removed the post. Robinhood stated it was working with X to restore account control. Before the scam was contained, the fake token's market capitalization briefly surged to $10 million. On-chain data suggests scammers extracted between $1.2 million and $1.3 million from the scheme.