Back
Robinhood Chain memecoin collapses after posts from affiliated SpaceX-marked X account

Robinhood Chain memecoin collapses after posts from affiliated SpaceX-marked X account

Separate scams tied to hijacked X accounts and leaked wallet seed phrases sent Robinhood Chain meme tokens surging before sharp collapses, underscoring security risks around fast-moving speculative launches.

ETH

Fact Check
The original SolanaFloor monitoring post confirms the compromised SpaceXAI and Starlink accounts promoted a Robinhood Chain memecoin that collapsed after briefly reaching a $2M market cap. Lookonchain's on-chain analysis independently confirms the token is $SCATMAN and details the ~$125,000 in proceeds (59 ETH + 14.7 ETH), matching the claim precisely. PANews and Odaily corroborate. The 'Robinhood Chain' label and 'SCATMAN' ticker describe the same token. All claim elements—hacked accounts, minting and selling, ~$125K, social-promotion surge and collapse—are supported. The only minor caveat is that the hack is described as 'likely'/'allegedly' rather than definitively proven, consistent with the claim's 'allegedly' framing.
Summary

SCATMAN, a token promoted through hijacked SpaceX and Starlink X accounts, briefly rose above a $2 million market capitalization before collapsing after the attacker sold into the rally. Lookonchain said the hacker created 10 trillion SCATMAN and sold the full supply for 59 ETH, worth about $108,000, while a separate linked wallet sold another 59.28 million tokens for 14.7 ETH, or roughly $27,000, bringing total proceeds to about $135,000. Screenshots circulating on social media showed both accounts reposting content from the token’s profile, which tagged SpaceX and tied the token to a Sam Altman-themed meme coin. GeckoTerminal data showed the token was quickly rug-pulled, and both companies later deleted the posts and regained control of their accounts. In a separate Robinhood Chain incident, Robinhood co-founder Vlad Tenev accidentally leaked wallet mnemonic phrases, which hackers then exploited to manipulate trading in the Robinhood Chain Meme token $1. Its market cap jumped from about $500,000 to $14 million before plunging. Together, the episodes highlight how attackers are using compromised or exposed credentials and high-profile social media accounts to create short-lived hype around low-cap tokens and extract profits before retail buyers can react.

Terms & Concepts
  • rug-pulled: A crypto scam in which liquidity is removed or insiders rapidly sell out, causing a token’s price to collapse.
  • minted: Created a new supply of tokens on a blockchain.
  • mnemonic phrases: A sequence of words that gives access to a crypto wallet and can be used to control its funds if exposed.