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BNB Chain X account hack: brief overview
On Oct. 1, BNB Chain’s official English X account was compromised and used to promote a fake airdrop containing phishing links. The attacker reportedly siphoned roughly $8,000 from victims' crypto wallets before funneling some proceeds into a meme token called “4,” then executing a rapid rug pull. Reports vary on exact takeaways — some sources cite a $4,000 cash-out while others note token movement totaling as much as $22,000 — but the community response and market action that followed were unmistakable.
How the community turned the tables
Following the takeover and subsequent rug pull, BNB Chain supporters and crypto traders reacted by buying the meme coin labeled “Four” en masse, apparently as a form of mockery and retaliation against the hacker. That coordinated buying pressure drove the token to spike by more than 500% for a short window. Changpeng “CZ” Zhao, the former Binance CEO, highlighted the spectacle on social media, noting that the hacker had dumped tokens for a modest profit while the community pushed the price higher.
BNB Chain hacker’s meme coin “4” briefly rose by 500% after he rug-pulled the tokens | Source: pump.fun
Price action and on-chain metrics
On-chain trackers such as pump.fun recorded a sharp golden candle for the token before it retraced. Market data at the immediate peak showed the meme coin with a market capitalization near $19,400 and 24-hour trading volume of roughly $57,400. Within one hour of the community takeover, the token rose about 185% from its prior level. These sudden moves are characteristic of pump-and-dump dynamics commonly seen with low-liquidity meme coins.
What the attack looked like: timeline and tactics
At approximately 05:30 UTC on Oct. 1, the BNB Chain English X account began posting repeated messages about a fraudulent airdrop. Each post contained phishing links designed to trick users into connecting their wallets. The compromised account published around 10 identical posts, giving the scam broad exposure to followers. CZ and the Binance security team warned users not to click the links while BNB Chain’s Chinese-language account also confirmed the breach.
Victim impact and reported losses
Investigations indicate the biggest single loss was about $6,500 from one user who fell for a phishing link. In total, the damages attributed to the incident are estimated near $8,000. After stealing funds, the attacker used some proceeds to pump the meme token “4” and later performed a rug pull — selling their token holdings. Sources report that the attacker dumped tokens for a profit reported at different figures across trackers, so exact final takings vary by report.
Response from BNB Chain and next steps
By roughly 08:30 UTC the Binance team regained control of the compromised X account and began coordinating incident response. The platform has said the root cause is still under investigation and has pledged to reimburse victims who lost funds through the phishing links. As with many social-engineering attacks on social media, the incident will likely prompt additional security checks on verified accounts and renewed attention to multi-factor authentication and staff account protections.
Lessons for crypto users: how to avoid phishing and rug pulls
This event underscores two persistent crypto risks: phishing via social channels and low-liquidity meme coins vulnerable to pump-and-dump schemes. To reduce exposure, users should:
- Never click unexpected airdrop links—even from verified accounts—without independent verification.
- Confirm official announcements via multiple channels (official website, verified Twitter/X and blog posts).
- Use hardware wallets or secure wallet providers and never input private keys or seed phrases into web forms.
- Be wary of small-cap meme tokens showing extreme volatility; low market caps and thin liquidity make them easy targets for rug pulls.
Final thoughts
The BNB Chain X account incident is a reminder that social-media account compromises can have immediate, measurable consequences in crypto markets. While community-led responses — such as buying a token to mock a scammer — capture attention, they also highlight the volatility and risk of participating in meme-coin markets. For investors and everyday users, the safest approach remains cautious verification of links, robust wallet security, and skepticism toward unsolicited airdrops and token promotions.
Source: crypto
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