Robinhood CEO Vlad Tenev's X account was compromised on Thursday and used to promote a fake memecoin on Robinhood Chain, the company confirmed — the visible half of an operation that, onchain records show, was set in motion hours earlier and designed to profit from the frenzy without ever pulling liquidity.

Robinhood said Thursday that CEO Vlad Tenev's X account was briefly taken over by attackers to promote a fake meme coin.

Robinhood Chain has seen cumulative DEX volume of about $9 billion, primarily driven by higher-risk memecoins, per Entropy Advisors.