The WeChat account of Yi He, Co-CEO of Binance, was compromised by malicious actors who used it to promote a fraudulent memecoin called Mubara. The hackers exploited the false endorsement to create artificial demand for the token before selling their holdings for profit. This security breach highlights the ongoing risks associated with social media accounts of high-profile cryptocurrency executives, which can be targeted by scammers seeking to manipulate markets. Binance has not yet released an official statement regarding the incident or any potential measures to address the situation. The event serves as a reminder to cryptocurrency investors to exercise caution and conduct thorough research before acting on investment recommendations, even when they appear to come from reputable sources within the industry.

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