a fake token called Vladhood did a $10m market cap last week because the post came from the Robinhood CEO's account.
175,000 people saw it in under 20 minutes. wallets that got in early pulled more than $1m out of the pump, and as of the reporting nobody had identified who they belong to.
Robinhood's answer: the account was compromised, the post has been removed.
that's the whole consequence. no fine, no refund, nobody asking how the fuck a public company CEO loses his X account in the middle of a memecoin frenzy running on his own chain.
and that's just the one that made headlines. smaller accounts get taken every day, push a contract address or a drainer link to their followers, and close it out with the same three lines. heads up, we were compromised, access restored, stay safe.
so when the whole thing costs the owner of the account nothing, is it really believable that nobody has ever staged one of these on purpose? I'm not putting a name on anybody. I'm asking why anyone would leave that much free money sitting there.
BNB Chain is the one exception I can remember. users lost $8k to phishing links in October and the team paid every one of them back.
locking an X account down is five minutes. password manager, hardware key, kill the connected apps you approved in 2021 and forgot about.
make the reach carry the liability and watch how fast the hardware keys show up.