PancakeSwap Chinese Account Hack Promotes Scam Crypto

PancakeSwap’s Chinese X account was hacked on October 8, 2025, leading to the promotion of the scam token “Sir Pancake.” Phishing tactics were used, but no core funds were lost from the main platform or user wallets.

The breach involved phishing that targeted only the Chinese X account managed by the PancakeSwap core team. Urgent warnings were issued by PancakeSwap and Binance leadership to avoid potential impacts on other users and systems. As Changpeng Zhao, Founder of Binance, advised, “Always check the domains very carefully, even from official X handles. Stay SAFU!”

As a result, the scam token amassed $20 million in trading volume. Although individuals suffered financial losses, the incident spurred increased vigilance within the community against phishing attacks, boosting security awareness.

Economically, the CAKE token surged by 15%, trading above $4.50, with a market cap of $1.47 billion. Users affected by the scam reported losses between $8,000 and $13,000, underscoring the growing need for careful validation.

Historically, similar phishing attacks have targeted the BNB ecosystem, causing financial damage. PancakeSwap’s rapid response helped mitigate broader impacts. Increased scrutiny on social media security remains critical for the integrity of such platforms.

PancakeSwap Team stated, “We have identified unauthorized posts from our Chinese X account. The main platform and user funds are unaffected. Please only follow official updates from our primary global channels.”