HOOD Stock Slips Amid Robinhood CEO’s X Hack & Scam Token Promotion
Key Insights:
- HOOD stock fell 2.78% after Robinhood CEO’s X account was hacked.
- Fake VLAD logged 1,868 transactions before being flagged as a scam.
- Hack-linked wallets reportedly extracted about 650 ETH from the scam.
HOOD stock traded lower at the time of writing as Robinhood CEO Vlad Tenev’s X account was compromised and used to promote a fraudulent token on Robinhood Chain.
The trading session closed with Robinhood Markets Inc. shares at $101.58, down by 2.78% or $2.90. At the same time, the company worked to regain control of the executive’s social media account.
The incident unfolded alongside increased on-chain activity surrounding the fake VLAD token. It was later labeled a scam by Robinhood Chain’s blockchain explorer.
Robinhood confirmed that the post was unauthorized and removed it within a short period. The incident still drew attention to the interaction between social media security and token speculation as Robinhood stock finished the day under sustained selling pressure.
HOOD Stock Ends Lower as Unauthorized Post Spreads
As the Google Finance chart showed, Robinhood Markets shares closed at $101.58, below the previous session’s closing price of $104.48. The stock opened above $103 before selling pressure pushed it below $100. It later recovered and traded near $102 for much of the afternoon.
