Binance co-CEO Yi He hit by WeChat hack amid growing Web2 risks for crypto execs

cointelegraphPublished on 2025-12-10Last updated on 2025-12-10

Abstract

Yi He, the newly appointed co-CEO of Binance, reported that her WeChat account was hijacked after an old mobile number associated with it was reassigned. The attackers used the compromised account to promote a token called Mubarakah, netting approximately $55,000. This incident follows a similar WeChat hack of Tron founder Justin Sun in November. SlowMist founder Yu Xuan explained that attackers can seize accounts by contacting frequent contacts, including those with minimal interaction, and warned that recycled mobile numbers in China create vulnerabilities. He advised high-profile users to avoid adding unknown contacts, rotate passwords, and monitor login alerts. Binance co-founder Changpeng Zhao also confirmed his long-unused WeChat account would not promote any memecoins, urging users to stay vigilant.

Newly appointed Binance co-CEO and co-founder Yi He said on X that her WeChat account was hijacked after an old mobile number was taken, highlighting how Web2 messaging platforms can be used to impersonate crypto executives.

“WeChat was abandoned long ago, and the phone number was seized for use. It cannot be recovered at present,” she said in a translated X post.

Blockchain analytics firm Lookonchain flagged that after the hack, the attackers promoted a token called Mubarakah, pumping the price. The platform claimed that the attackers netted $55,000 with the scheme.

The attack comes days after the Binance co-founder was appointed as the co-CEO of the crypto exchange platform. Binance CEO Richard Teng announced the news at Binance Blockchain Week in Dubai, calling it a “natural progression.”

SlowMist founder outlines how to avoid the attack vector

This follows a previous WeChat compromise in November, which involved Tron founder Justin Sun. On Nov. 30, Sun posted on X that his account was hacked and that he had contacted the platform to try to get the account back.

After the most recent attack, SlowMist founder Yu Xuan re-published a breakdown on how WeChat account takeovers may occur, warning that the barrier to attacks can be surprisingly low.

According to his test, an attacker who already has access to leaked login credentials could seize control of an account by contacting two “frequent contacts.”

He said that this might include people who were never directly messaged and merely added as friends or interacted with briefly in a shared group.

In China, carriers typically reissue mobile numbers to the market three months after users cancel their accounts.

This system, where inactive SIM-linked accounts can be reclaimed or reassigned, creates openings for credential stuffing, SIM-linked recovery abuse and targeted social engineering.

The SlowMist founder urged users, especially high-profile figures who handle over-the-counter (OTC) traders or wallet-related discussions, to avoid adding unknown contacts casually. He also recommended rotating passwords and responding quickly to login alerts.

Related: South Korea to impose bank-level liability on crypto exchanges after Upbit hack: Report

CZ warned that he would not promote memecoin contracts

Binance co-founder Changpeng Zhao said on X that he has also not used his WeChat account for a long time.

However, Zhao warned that he would not promote any memecoin contract addresses on this account, giving users a quick reminder to stay safe amid growing threats.

The incident comes only months after BNB Chain’s official X account was compromised. On Oct. 1, hackers took over and started posting phishing links on the official social media of the blockchain network.

BNB Chain previously told Cointelegraph that 10 links were posted and that $8,000 in user funds were lost. The company said that all affected users have been fully reimbursed.

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The Impossible Trilemma Is Basically a Pseudo-Problem

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The "Impossible Triad" Is Fundamentally a Pseudo-Problem

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3.6k Total ViewsPublished 2024.04.01Updated 2024.12.03

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3.4k Total ViewsPublished 2024.04.01Updated 2024.12.03

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Decentralized Framework: Developed on the BSC, BNB Card emphasizes key attributes such as security, transparency, and user sovereignty. The decentralized nature of the framework allows for transactions that are both efficient and secure. Community-Centric Model: The emphasis on grassroots participation rather than laboratory-driven financial models creates an engaging environment for its users. By leveraging the inherent virality of meme culture, BNB Card fosters a robust community movement. The primary goal of BNB Card is to democratize digital identity tools in Web3, offering accessible solutions that benefit the users without the encumbrances typically associated with traditional identity management systems. Creator and Investors When exploring the identity behind BNB Card, it is important to note that no singular creator is explicitly credited. Instead, the project appears to be community-driven, suggesting a collective effort inspired by the notion of Binance's “Early Builder Card.” This organic development approach is common among projects within the meme token spectrum, where development is often influenced by the community's passion rather than a central authority. In terms of investment, the absence of publicly disclosed institutional backers further highlights the project's grassroots foundation. It thrives on organic community support, reflecting a usual characteristic of meme-driven projects that often engage their audience through social channels rather than formal investment routes. How It Works BNB Card employs several mechanisms that delineate its functioning and innovative spirit: Token Utility: The BNBCARD token allows users access to a suite of ID creation tools while also providing a platform for community governance. The token serves as the linchpin that enables these functionalities. Blockchain Integration: By utilizing the BSC, BNB Card ensures compatibility with Ethereum Virtual Machine (EVM)-based applications. This integration provides users with the benefits of low transaction fees while enhancing accessibility. DIY Ecosystem: Central to BNB Card’s appeal is its do-it-yourself (DIY) approach to digital identity card generation. This participatory element encourages users to engage in creative expression, fostering an inclusive culture that thrives on contribution and collaboration. Timeline Chronology is vital to understanding BNB Card's trajectory. Important milestones in the project’s history include: March 18, 2025: BNB Card was listed on LBank, marking a significant step in its exchange journey and opening doors for liquidity and user accessibility. March 19, 2025: A pivotal moment occurred as the token experienced an astronomical surge of 26,000% within 24 hours, garnering attention for its potential and the community’s enthusiasm. Ongoing Developments: The project is continuously expanding its partnerships with decentralized exchanges (DEXs) like PancakeSwap, further enhancing liquidity and user engagement. Innovation and Differentiation Understanding what sets BNB Card apart involves deeper exploration into its innovative framework: Meme-Utility Hybrid: BNB Card successfully merges the playful allure of meme culture with practical applications in digital identity management. This niche approach effectively caters to a broad demographic, appealing to both tech-savvy users and those new to crypto. Decentralized Governance: Operating devoid of centralized control allows the project to harness community input directly. The collective decision-making process buoyed by community involvement empowers users, ensuring their voices contribute to the development and direction of the project. Scalability: BNB Card stands to benefit immensely from the 2025 roadmap upgrades to the BNB Chain, which include enhancements such as increased transaction speeds and the integration of artificial intelligence tools. These improvements position the project advantageously within a highly competitive environment. Conclusion BNB Card is emblematic of a new wave of digital identity solutions within the Web3 ecosystem. By blending fun, community engagement, and practical utility, it invites users to participate actively in shaping their digital personas. As the project navigates the dynamic cryptocurrency landscape, its success will likely hinge on maintaining strong community support while adapting to technological advancements and user needs. The integration of decentralization with meme culture serves not only as a means for user-driven engagement but also as a foundation for the evolving narrative surrounding digital identity in the age of blockchain. In summation, BNB Card not only exemplifies the convergence of creativity and utility within the crypto space but also underscores the importance of community in steering the future of decentralized technologies.

3.9k Total ViewsPublished 2025.03.26Updated 2025.03.26

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