Vlad Tenev's VLAD Token Promotion Sparks Security Concerns

Robinhood CEO Vlad Tenev's X account was compromised on July 23 after he promoted a memecoin called VLAD, tied to Robinhood Chain. The post claimed VLAD represented the network's official mascot token and would soon be available in the app.

Tenev's post directed users towards a contract address starting with 0x92d, but neither Robinhood nor Robinhood Crypto announced the token. The post was later deleted, and VLAD was flagged as a potential scam by Robinhood Chain's explorer.

On-chain monitoring estimates that the exploiter generated around 650 ETH (~$1.2-1.3M) from the scheme, highlighting security risks associated with rapid memecoin token launches and DeFi/DEX scams.