Binance Co-Founder Yi He WeChat Account Hacked in Memecoin Scam

Memecoin Scam Revealed After Hack of Binance Co-Founder Yi He WeChat

Binance Co-Founder Yi He WeChat account hacked through an abandoned phone number, allowing scammers to promote fraudulent meme coins and exposing serious Web2 security weaknesses affecting top crypto industry figures.

CZ Warns Users: “Do Not Buy Meme Coins from Hackers’ Posts”

Binance co-founder and recently appointed co-CEO Yi He became the latest high-profile victim of a Web2 social media hack. Her WeChat account, registered under the handle @heyibinance, was compromised after attackers exploited an abandoned phone number tied to the account—a loophole in China’s real-name verification system.

The hack was confirmed by Yi He herself, who reported that the phone number previously linked to her account had been seized and could no longer be recovered. Former Binance CEO Changpeng Zhao (CZ) quickly took to social media to alert users, urging them to avoid any meme coin promotions posted from her account.

Source: Official X

“This incident highlights that Web2 social media platforms are not fully secure,” CZ wrote, emphasizing the persistent risks that leaders face when using centralized platforms for communication.

Hackers Promote Scam Meme Coins

Following the takeover, hackers used Yi He’s WeChat account to promote multiple meme coin addresses, including a notable contract for the “Mubarakah” token: 0x14fF7FEf64076723625B1fF6fEfAC848C83A4444. 

The marketing led to the market capitalization of the token shooting up to $8 million in a few minutes before dropping sharply to $3.1 million, on-chain data shared on social media platforms such as X.

Security analysts observed front-running, indicating collusive insider trading. Several wallets bought tokens only a few minutes prior to the hacked post, taking advantage of retail FOMO in the unstable meme coin market.

Source: X

According to the report of the blockchain security firm, PeckShield, the scheme made a net profit of about $55,000, with attackers investing 19,479 USDT in 21.16 million tokens before the pump, selling 11.95 million tokens after the spike at $43,520, and retaining 9.21 million tokens worth about $31,000.

Repeated Web2 Vulnerabilities in Crypto Leadership.

This is not the first attack. On November 30, 2025, Chinese crypto influencer Sun Yuchen was the victim of a WeChat hack, and Yi He herself was impersonated in March 2025. These attacks illustrate the persistence of centralized social media systems, especially among prominent crypto personalities.

The recent example shows that hackers can easily use the abandoned phone numbers in areas that have stringent real-name checks. It also brings up the necessity of more rigorous account recovery procedures and multi-factor authentication of public figures in the crypto industry.

Source: X

Being a Good Person: Checking Over FOMO.

CZ, blockchain security companies are calling on crypto users to be cautious of unverified shilling and hype-driven social media promotions. Retail investors are advised to check token contracts on their own and avoid being influenced by FOMO before making purchases and rash decisions.

The case of Yi He is a warning to crypto influencers and ordinary users. As the boundary between Web2 and Web3 blurs, cybersecurity awareness is an important line of defense against opportunistic attacks in the fast-paced world of cryptocurrency.

Conclusion

The event serves as a reminder to leaders on centralized exchanges that they face increased risks, users should beware of FOMO, and do their own research since social media-based frauds are becoming increasingly complex.