A False Endorsement Sparks Rapid Hype

Yi He, the co CEO of Binance, became the center of a coordinated memecoin pump after her WeChat account was compromised. The attackers used her account to post messages promoting MUBARA, which immediately created buying pressure as users believed the endorsement was real.

Within a short window, early buyers chased the token sharply upward. The attackers then sold their holdings into that momentum.

How The Scam Worked

The scam followed a familiar pattern seen across crypto markets:

1. A high profile influencer or executive account is hijacked
2. A token is promoted as a guaranteed opportunity
3. Followers rush in, thinking the endorsement is credible
4. Attackers sell into liquidity and disappear

Because Yi He is one of the highest profile figures in the digital asset sector, the fake endorsement carried more weight than typical influencer scams.

Binance Responds Quickly

After the breach was identified, Binance issued internal alerts, and messaging was flagged as fraudulent. Those who rushed into the token saw the market reverse as liquidity dried up. The postings were removed, and Yi He confirmed that she was not connected to MUBARA in any way.

Internal teams also began investigating whether any additional accounts or channels were affected.

Why This Incident Matters

The episode highlights how deeply investor sentiment can move based on perceived endorsements. In markets driven heavily by community attention, even a single mention from a recognizable figure can shift millions of dollars in minutes.

For newcomers, it also underscores that:

• Screenshots are not proof

• Private channel messages can be compromised

• Memecoins can be manipulated rapidly

• Social credibility does not equal due diligence

The problem is amplified in China based messaging apps where identity verification is weaker.

Damage Done and What Comes Next

While the token pumped briefly, the selling phase pushed prices back down, leaving many buyers trapped. Activity around MUBARA has already faded, and trading volumes have fallen as the fraudulent activity was exposed.

This will likely accelerate discussions around improving executive account security and introducing stronger verification for official communications.

For investors, it is a reminder that even credible names can be used as bait when security lapses occur.