Robinhood Founder's Seed Phrase Leaked; Hackers Pump Meme Coin $1 from $500K to $14M on July 13

According to BlockBeats, Robinhood founder's seed phrase was leaked during a livestream on July 13, allowing hackers to gain control of the address. The attackers used the compromised account and affiliated addresses to purchase meme token $1 in bulk, triggering thousands of investors to follow suit and pushing the token's market cap from approximately $500,000 to $14 million within hours.

Trading volume for $1 reached approximately $20 million within two hours before the token price collapsed sharply. After Robinhood's RPC froze the addresses involved, preventing transaction packing, the hackers transferred operations to BNB Chain and issued new tokens through self-dealing tactics.