Key Insights: HOOD stock fell 2.78% after Robinhood CEO’s X account was hacked. Fake VLAD logged 1,868 transactions before being flagged as a scam. Hack-linked wallets reportedly extracted ab
HOOD stock traded lower at the time of writing as Robinhood CEO Vlad Tenev’s X account was compromised and used to promote a fraudulent token on Robinhood Chain.
The trading session closed with Robinhood Markets Inc. shares at $101.58, down by 2.78% or $2.90. At the same time, the company worked to regain control of the executive’s social media account.
The incident unfolded alongside increased on-chain activity surrounding the fake VLAD token. It was later labeled a scam by Robinhood Chain’s blockchain explorer.
Robinhood confirmed that the post was unauthorized and removed it within a short period. The incident still drew attention to the interaction between social media security and token speculation as Robinhood stock finished the day under sustained selling pressure.
As the Google Finance chart showed, Robinhood Markets shares closed at $101.58, below the previous session’s closing price of $104.48. The stock opened above $103 before selling pressure pushed it below $100. It later recovered and traded near $102 for much of the afternoon.
HOOD stock declines as Robinhood X account gets hacked | Source: Google Finance The stock weakened again during the final trading hours, closing near its daily low. After-hours trading remained largely unchanged at $101.58, while trading activity increased late in the session as the decline accelerated.
The market movement coincided with news that Robinhood CEO Vlad Tenev’s X account had been compromised and used to publish an unauthorized message promoting a token called VLAD, along with what appeared to be a malicious contract address.
The fraudulent post remained visible long enough to attract more than 175,000 views before users flagged it as suspicious. On-chain data platform Onchain Lens reported the compromise, while Robinhood later confirmed through its Robinhood Comms X account that it was working with X to restore access and had removed the post.
The token contract, deployed through PonsLaunchFactory, generated approximately 1,868 transactions shortly after launch. Robinhood Chain’s blockchain explorer then attached a scam warning to the contract.
On-chain monitor MLM later reported that wallets linked to the incident withdrew about 650 ETH, valued at between $1.2 million and $1.3 million. However, the data did not clarify how those reported Ether proceeds were linked to purchases prompted by the unauthorized post.
An online investigator known as Jeff identified a wallet that appeared to be linked to the attackers. Jeff’s on-chain analysis showed that the wallet used about $126.81 to purchase 47.2 million VLAD tokens.
Based on the token’s reported market price at the time, the position recorded estimated gains of roughly $159,000. However, this estimate was based on market value rather than confirmed sale proceeds.
Robinhood Chain launched on July 1 as an Ethereum Layer 2 network built on the Arbitrum Orbit stack. The network is processing around 6 million transactions per day, while cumulative decentralized exchange volume has reached approximately $9 billion.
The unauthorized post claimed the fake token would also be listed within Robinhood’s application, a statement the company did not announce or confirm. The incident occurred as the network continued to record high memecoin trading activity alongside its intended focus on tokenized real-world assets.
Note: The information provided in this article is for informational purposes only and should not be considered financial, investment, or legal advice. Readers should consult a licensed financial advisor or other qualified professional before making any investment decisions.
The post HOOD Stock Slips Amid Robinhood CEO’s X Hack & Scam Token Promotion appeared first on The Coin Republic.
