The leakage of mnemonic phrases by the founder of Robinhood causes a stir, and the official account of SpaceXAI is hacked to promote a scam.

Written by: Nicky, Foresight News

The popularity of Robinhood Chain has persisted for more than a week, but behind the constantly emerging meme heat, "dark hunters" on the chain have also set their sights on this wave of popularity.

In the early morning of July 13, the X platform accounts of SpaceX's two major products, SpaceXAI and the global satellite network Starlink, which had just been listed, were attacked and briefly forwarded content promoting the Robinhood Chain meme token SCATMAN. The original account promoting the meme, Sam Catman, even had the affiliated gold badge certification of SpaceXAI.

After the repost, the market value of the token was rapidly pushed up to about 2 million dollars, at which point the deploying party immediately withdrew the liquidity pool, causing the meme's price to nearly drop to zero. Currently, the relevant posts have been deleted, and the original account of Sam Catman that published the meme token has also been banned on the X platform. As of now, SpaceXAI, Starlink, and X have not publicly responded to this incident.

It is worth noting that SCATMAN was not created through any token launch platform on Robinhood Chain. The contract was self-deployed by developers and injected with initial liquidity, belonging to a typical self-deployed token scam. After attracting traders with the stolen account, the attacker immediately executed a liquidity withdrawal operation.

According to on-chain monitoring platform Lookonchain, after hacking the account, the hacker minted 100 trillion SCATMAN tokens and completed the sale through two associated wallets. One wallet exchanged the tokens for 59 ETH, valued at about 108,000 dollars; the other wallet sold part of the tokens to obtain 14.7 ETH, about 27,000 dollars.

Reportedly, the name SCATMAN is not without reason. The owner of the X platform, Musk, and OpenAI CEO Sam Altman recently had another public feud, providing a high-traffic background for the hacking of related accounts.

After Apple filed a trade secret theft lawsuit against OpenAI on July 10, Musk continuously criticized Altman on X, calling him a "fraud," while Altman retaliated by mocking Musk for promoting space data centers. A large number of controversial posts brought significant attention, making Musk-related accounts such as SpaceXAI and Starlink high-value attack targets.

The attacker took advantage of this public opinion heat to hack the account in order to promote the SCATMAN token.

The attack on the platform under SpaceX and the release of meme content is not an isolated incident; even the founder of Robinhood has fallen victim.

Robinhood co-founder and CEO Vlad Tenev accidentally leaked 8 wallet mnemonic phrases during a live broadcast, and another 4 mnemonic phrases were even randomly decoded by a hacker. On July 12, after the hacker gained control of the address, they used it to buy the Robinhood chain's meme token for $1, provoking many investors to follow suit.

Because the transaction record showed "founder's address" in the purchase, it caused thousands of investors to enter the market. The market value of the token surged from about 500,000 dollars to 14 million dollars in a short period, with a trading volume reaching approximately 20 million dollars within two hours, before significantly dropping back to around 1 million dollars market value.

The RPC nodes of Robinhood Chain subsequently froze the involved address, making it impossible for any transactions sent from that address to be packaged by the nodes, thus blocking fund transfers or further trading. This handling method has also sparked controversy. Some community members believe that, as Robinhood Chain is positioned as an Ethereum Layer 2 network based on Arbitrum, the behavior of freezing addresses at the node level contradicts the initial intention of decentralization in the blockchain network.

The two incidents occurring one after another point to a trend of using high-profile accounts or figures to create short-term hype for on-chain tokens and cash out after retail investors enter.

Since July 8, the meme token CASHCAT on Robinhood Chain has entered a bullish market, with an intraday increase exceeding 1000%, and reaching a peak market value of 220 million dollars on July 11. According to DefiLlama data, the current total locked value on that chain is about 151 million dollars, with a 24-hour trading volume on decentralized exchanges of 875 million dollars and fee income of about 100,000 dollars.

Robinhood co-founder and CEO Vlad Tenev stated on the X platform on July 8 that Robinhood is building the Robinhood Chain for real-world assets (RWA), but the network is also "very suitable for meme coins." This statement further ignited speculative enthusiasm.

Although Robinhood Chain is positioned for RWA in the long term, the main traffic for Robinhood Chain currently still comes from meme token trading. Against this background, the chain has quickly become an ideal breeding ground for fraudsters.

From the hacking of the SpaceXAI official account to the utilization of the founder's wallet leakage, these two major incidents within two days reflect that the heat of Robinhood Chain is drawing a large number of fraudsters into the market. They leverage the celebrity effect, the aura of official accounts, and investors' psychological pursuit of trends to rapidly create short-term hype and quickly cash out after retail investors enter. It also reflects the deficiencies in ecological infrastructure and user protection mechanisms during the early rapid development of Robinhood Chain.

Meanwhile, as an important medium for information dissemination, the X platform evidently lacks security protection capabilities for high-value accounts, allowing the official accounts of SpaceXAI and Starlink, which each have millions of followers, to become channels for the distribution of scam information, directly transforming the platform's immense traffic and user trust into amplifiers for scams. No official response has been issued following this incident.

For ordinary investors, verifying the token contract address, confirming the liquidity pool locking status, and remaining vigilant against the narrative of "official endorsement" before chasing trends are still the most basic defenses against becoming exit liquidity.