TLDR
- Hackers used Yi He’s WeChat to promote MUBARA meme coin, causing a price spike.
- Attackers profited $55K in a pump-and-dump scheme on decentralized exchanges.
- Binance warned users to ignore MUBARA-related posts after Yi He’s account breach.
- MUBARA’s price fell over 60% after the attackers sold their holdings.
Binance co-CEO Yi He became the target of a hacking attack on December 9, 2025, when cybercriminals took control of her old WeChat account. The hackers used the account to promote MUBARA, a little-known meme coin, sparking a rapid price surge and a classic pump-and-dump scheme. As the price spiked, the attackers profited over $55,000 before the market corrected, leaving many traders in the wake of the scam.
Meme Coin Chaos: Yi He’s WeChat Account Hijacked for Crypto Pump-and-Dump
In a recent event that has shaken the cryptocurrency world, hackers took control of Binance co-CEO Yi He’s old WeChat account and used it to promote a little-known meme coin called MUBARA. This led to a dramatic surge in the price of the token, followed by a classic pump-and-dump scheme. The attackers exploited Yi He’s reputation in the crypto space to create a sense of urgency and push traders into buying the coin, leading to a market frenzy.
Yi He’s WeChat account was hijacked late on December 9, 2025, with the attackers using it to endorse the MUBARA token. The sudden spike in interest saw the price of the coin jump from $0.001 to $0.008, giving it a market value of around $8 million. Traders rushed to purchase the token based on the perceived endorsement from Yi He. However, the excitement quickly faded as the hackers sold their MUBARA holdings, profiting approximately $55,000.
The Hack and Coordinated Pump
Lookonchain, a blockchain analytics firm, tracked the suspicious activity leading up to the price surge. The firm identified two wallets that quietly bought around 21.16 million MUBARA tokens for 19,479 USDT just hours before the promotional messages started circulating. These tokens were purchased at a relatively low price, with the attackers timing their purchase for maximum impact. Once the price of MUBARA spiked, the attackers began selling their tokens into the market.
The price surge of MUBARA created a classic “fear of missing out” (FOMO) scenario, where traders rushed to buy the token, hoping to make quick profits. As the price shot up, the attackers began selling their tokens at a profit. By the morning of December 10, 2025, they had sold approximately 11.95 million tokens for 43,520 USDT, leaving them with around 9.21 million tokens still in their possession. The attackers’ total profits are estimated at $55,000, but this figure could increase if they manage to sell the remaining tokens.
Binance Responds to the Breach
Binance, through both Yi He and founder Changpeng Zhao (CZ), quickly alerted users about the breach and warned them to avoid engaging with any posts promoting MUBARA. Yi He confirmed that the account used in the attack was old and that she had not used it in years. The attackers managed to gain control of the account by exploiting a phone number associated with it, making it impossible for Yi He to regain access.
In response to the breach, CZ stressed the importance of security and urged the crypto community to be cautious when interacting with social media promotions. He highlighted the vulnerability of Web2 platforms, such as WeChat, in the context of cryptocurrency scams. “WeChat is an active platform in China’s crypto circles, and this incident shows how easily such breaches can occur,” CZ remarked. He also advised users to avoid investing in meme coins, particularly when promoted via social media accounts.
The Aftermath and Market Reactions
As the price of MUBARA rapidly declined, the impact of the pump-and-dump scheme became clear. The token lost over 60% of its value after the attackers sold their holdings. The incident also triggered discussions about the risks of meme coins, particularly when promoted by influential figures. Many traders questioned the legitimacy of tokens that experience such extreme volatility due to coordinated schemes.
Yi He’s response to the breach emphasized the importance of personal account security, especially in the context of social media platforms linked to cryptocurrency activities. While Binance reassured users that the hack did not affect the exchange itself, the incident raised concerns about how easily scammers can manipulate markets using social media accounts, even those of high-profile individuals.
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