Meme coin $1 briefly surged after a wallet tied to Robinhood co-founder Vlad Tenev was compromised when its mnemonic phrase was exposed during a livestream, according to Token Pocket Chief Business Officer Michael. He described the episode as an error rather than a hack, saying the attacker used the seized address and related wallets to buy the token, prompting thousands of traders tracking large wallets to pile in. The market value jumped from about $500,000 to $14 million before dropping sharply, while trading volume topped $20 million in roughly two hours. Michael said Robinhood’s RPC service later blocked the hacked address, limiting further wallet activity, but traders who bought near the peak were still exposed to losses. He added that the attackers then shifted to BNB Chain, launched another token and used wash trading to inflate activity before cashing out. Bitget, citing the same account, described the incident as a coordinated pump-and-dump scheme.