After the Binance team regained control of the BNB Chain X account, the “4” meme coin used by the hacker to gain profit from victims saw its price skyrocket by 500% shortly after his rugpull.
Summary
- BNB Chain’s official X account hacker stole around $8,000 from victims before using the funds to pump and rug-pull a meme coin called “4.”
- The BNB community reportedly mocked the hacker by collectively buying into the “4” token, causing it to surge over 500%.
In his latest post, former Binance CEO Changpeng “CZ” Zhao claimed that the community was seemingly mocking the BNB Chain X account hacker after they sold all the meme coins for a $4,000 profit. The meme coin had been in the market for about a year but briefly reached a peak of 500% following the hack on BNB Chain’s official X account.
“Interestingly, after the hacker dumped ALL his tokens for a $4k gain, the community took over and bought the meme coin higher, as a mock to the hacker. Funniest come back by the community!” said CZ in his latest post.
According to data from pump.fun, the meme coin simply dubbed “Four” briefly surged above 500% before dropping down in value after the hacker reportedly cashed out on $4,000. The hacker had funneled some of the stolen funds from victims into the token before rug-pulling it afterwards.
The meme coin’s image depicts a cartoonish picture of Changpeng “CZ” Zhao’s based on the social media picture of him flashing four fingers, indicating his four-month prison sentence after he was convicted by U.S authorities.
According to data from pump.fun, the “4” meme coin reached a golden candle before dropping back down from its high. It is currently valued for $19,400 in market cap due to the community’s collective pump. In the past 24 hours, the meme coin has seen a trading volume of $57,400. Within one hour, it has risen by 185% following the community’s rapid takeover of the meme coin that CZ claimed no longer has any tokens left in circulation.
Social media users celebrated the meme coin takeover after the hacker reportedly drained $8,000 in damages from victims who clicked on phishing links that stole funds from their crypto wallets. According to the post-mortem report, as many as 10 phishing links were shared on the compromised account.
The biggest loss came from a single user who lost approximately $6,500 from the hackers actions impersonating BNB (BNB) Chain. He then used the funds to pump his meme coin “4” and pulled the rug on 100% of his tokens for $22,000.
What happened to BNB Chain’s X account?
On Oct. 1 at around 05:30 UTC, the BNB Chain English account was compromised. The hacker used the X account with the golden check to trick users into clicking on a link that promoted a fake airdrop event for BNB token holders.
The hacker posted around 10 posts repeatedly containing the same message about an airdrop event, which actually contained malicious phishing links that would connect user wallet’s to the hacker’s.
At the time, Changpeng “CZ” Zhao took to his platform to warn users of the breach and remind them not to click on any links, as the security team for Binance tried to regain control of the social media account or get it suspended.
The Chinese language account for BNB Chain also informed users that the English X account has been hacked by an unidentified third party.
At around 8:30 UTC, the Binance team was able to regain access to the BNB Chain X account and explained that the root cause of the hack is still under investigation. However, the damages were estimated to reach $8,000. The team promised to fully compensate victims of the hack who lost their funds in the process.
