The Chinese X account for the PancakeSwap exchange platform, PancakeSwapzh, has been hacked. The account is being used to promote a fake meme coin called Mr Pancake. The exchange platform acknowledged the compromise and confirmed it’s actively working with the X team to resolve the matter. PancakeSwap team has also urged its users to ignore suspicious posts from the compromised account and avoid any engagement. CAKE jumps over 12% today despite the news of the breach Following the announcement of the breach, the CAKE token has jumped to over 12% despite the negative news from the exchange platform. The token was volatile, trading at $4.34, representing a 10.77% increase over the past 24 hours at the time of publication. The token also recorded an intraday high of $4.52 before stabilizing around $4.34. The token’s current market capitalisation is $1.49 billion, with an average 24-hour trading volume of $1.17 billion, representing a 79.8% increase. Update: We’re actively working with the X team to resolve the issue with @PancakeSwapzh . Please do not click on any links or interact with posts from that account until we confirm recovery. Stay vigilant and only trust updates from this official account, @PancakeSwap . — PancakeSwap (@PancakeSwap) October 8, 2025 The latest breach on the Chinese PancakeSwap X account follows a recent compromise of BNB Chain’s official X account, which was used to promote and distribute a fake rewards link. Changpeng Zhao urged users to avoid clicking on links posted on the compromised account last week, stating that the teams were investigating the matter. The account has since been restored , and investigations are ongoing to find the root cause of the breach. The total loss from the breach was estimated at $8,000, with a single user potentially losing up to $6,500 due to the malicious links posted. Shān Zhang, Chief Information Security Officer at blockchain security firm SlowMist, said the popularity of Binance-affiliated ecosystems makes them prime targets for cybercriminals. He noted that the BNB meme coin market is hot lately, making it more lucrative for scammers to exploit the user base. According to Zhang, weak security awareness among social media administrators is the leading cause of breaches. He noted that many account admins have poor security awareness and are highly susceptible to phishing. Zhang added that education and better credential management could prevent these incidents. AI tools fuel the new wave of cybercrimes The latest attack on PancakeSwap follows a similar trend, including the August attack on Instagram accounts for global artists. Adele, Future, and even FC Barcelona’s Instagram account were subject to attacks promoting unaffiliated Solana-based meme coins. The incidents highlight how quickly viral scams can trick users into purchasing fake tokens or connecting wallets to malicious sites. Slava Demchuk, CEO of blockchain analytics firm AMLBot, revealed that AI-driven fraud has surged sharply over the past year. He noted that attackers are adopting advanced tactics, including using artificial intelligence to automate scams and impersonate legitimate figures. According to research by Kaspersky, AI and social media are being used to reshape scam and phishing tactics, making it hard to detect. The study reveals that Cybercriminals use AI tools and LLMs to generate realistic emails, websites, and social media messages that closely resemble legitimate communication. The report highlights voice cloning, Deepfakes, and AI-generated videos as the most utilized forms of impersonation. It pushes them through media platforms such as Telegram, which uses bots to automate phishing schemes. The Kaspersky study revealed that attackers now target the theft of immutable identity data such as biometrics, signatures, and voice codes over passwords. The study warns that using AI-driven methods has lowered the entry barrier for scammers and urges users to assess all digital media critically, avoid sharing OTPs, and limit personal data online to minimize exposure to evolved scams. Alex Katz, CEO of cybersecurity company Kerberus, noted that the human element remains the weakest link, as it is easy to target. According to Katz, anyone can be compromised, from employees managing social media to blockchain developers. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
