Binance Co-CEO Yi He Recovers Compromised WeChat Account
In a dramatic turn of events, Binance’s co-CEO Yi He successfully regained control of her WeChat account on December 9, 2025, after hackers used it to orchestrate a pump-and-dump scheme involving the MUBARA meme coin. This breach unfolded mere days after her recent promotion alongside Richard Teng during the Binance Blockchain Week.
Changpeng Zhao (CZ), the founder of Binance, swiftly issued a public warning on X (formerly Twitter), urging users to avoid purchasing meme coins promoted through Yi He’s compromised account. He pointed out the vulnerabilities in Web 2.0 social platforms, highlighting the need for stronger cybersecurity practices.
The Hack: A Closer Look
The attackers exploited Yi He’s dormant WeChat account, which was linked to an old phone number no longer under her control. Through social engineering, the hackers posed as trusted friends seeking feedback, gaining her contacts’ trust before taking over the account entirely. This timing was significant, as Yi He’s elevated position at Binance provided wider credibility to the fraudulent posts.
Blockchain analysis firm Lookonchain revealed that the attackers meticulously prepared for the scheme, creating two new wallets seven hours before leveraging the compromised account to promote MUBARA. They spent nearly 19,479 USDT to purchase 21.16 million MUBARA tokens via platforms like PancakeSwap.
The Fallout: Pump-and-Dump Scheme
Once fraudulent messages were posted, MUBARA’s value skyrocketed by 700%, climbing from $0.001 to $0.008 in mere minutes. This temporarily pushed its market capitalization to $8 million. As the market pumped, the attackers cashed out approximately 11.95 million tokens, securing profits of 43,520 USDT while retaining 9.21 million tokens valued at $31,000. Their total profits from the scheme reached $55,000.
Unfortunately, the sudden surge exposed late investors to significant losses, as blockchain analysis indicated potential front-running by certain traders who anticipated the price jump.
Account Recovery and Binance’s Response
Initially, Yi He faced difficulties regaining control of her account due to the compromised phone number. However, through external verification and strengthened security procedures, she successfully recovered access. This action prevented the continuation of fraudulent posts.
Changpeng Zhao praised the quick recovery effort while emphasizing the cybersecurity weaknesses of centralized social media platforms. He reaffirmed Binance’s commitment to protecting its executives and their networks from similar attacks in the future.
Social Engineering and Crypto Scams on the Rise
The incident highlights the growing trend of social engineering attacks targeting prominent figures in the cryptocurrency space. With 2025 already seeing over $2.3 billion lost across major platforms such as Bybit, Coinbase, and Cetus, the Binance WeChat hack adds urgency to addressing security gaps in both centralized platforms and the broader blockchain ecosystem.
For instance, luxury skincare enthusiasts interested in enhancing their cybersecurity along with their physical wellness can explore innovative tools such as the NordVPN for safer online practices.
While Binance remains at the forefront of crypto innovation, the evolving threat landscape underscores the importance of safeguarding both personal and institutional accounts in this rapidly changing digital economy.
