CZ Warns Crypto Traders Against Meme Coin Scams on Official Social Media Accounts
Quick Breakdown
- CZ warns traders about hacked official accounts posting fake meme coin contract addresses.
- Recent hacks include BNB Chain, PancakeSwap, Drake, and Dior’s X accounts.
- BNB Chain’s meme coin market is booming, with launchpads like Four.Meme leading the charge.
CZ urges caution amid Memecoin craze
Former Binance CEO and founder, Changpeng “CZ” Zhao, has warned the crypto community to stay alert as meme coin scams resurface across major social media platforms. In an October 20 post on X, CZ highlighted how hackers have been hijacking verified accounts to share fake contract addresses of newly launched meme coins in a bid to defraud traders.
With the rise of meme coins, hackers are targeting social media accounts (as they usually have lower security measures) to post CAs.
Beware that official accounts do not endorse any specific memes.
— CZ 🔶 BNB (@cz_binance) October 20, 2025
His caution follows several high-profile hacks targeting both crypto and non-crypto accounts, which have been exploited to promote fraudulent meme tokens.
A string of high-profile hacks
One of the most recent cases involved the BNB Chain X account, which was compromised to promote a fake BNB-themed meme coin through a bogus airdrop . The attacker funneled users’ funds into the so-called “4” meme coin before performing a rug-pull worth $4,000. In a surprising twist, the BNB community retaliated by pumping the token’s price by over 500% as a mockery of the hacker.
Similarly, the Chinese PancakeSwap X account was hacked on October 8 to push another fraudulent meme coin called “Sir Pancake,” which still managed to reach $20 million in trading volume shortly after launch.
Outside crypto, celebrities and global brands have also been hit. Drake’s X account was hacked late last year to promote a fake token called ANITA, which spiked to $4.9 million in trading volume, while Dior’s official account was breached in February 2025 to advertise a fake DIOR coin on Pump.fun — gaining 138% in value and $1 million in volume within minutes.
BNB Memecoin boom surprises CZ
Despite the ongoing scams, the BNB Chain ecosystem is experiencing a notable meme coin resurgence, driven by launchpads like Four.Meme and PancakeSwap. Four.Meme even briefly overtook Pump.fun in daily revenue earlier this month.
Acknowledging the trend, CZ expressed surprise at the “BNB meme season”, noting that Solana had traditionally dominated the meme coin market.
Earlier this year, CZ had described the BNB meme coin ecosystem as “immature,” referencing how it struggled to manage the influx of dog-themed meme coins inspired by his pet, Broccoli.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The "debt black hole" behind the AI boom: $1.2 trillion external financing may be needed in the next five years
The rapid surge of AI is creating an unprecedented "debt black hole": according to Bank of America estimates, total capital expenditure for building AI data centers between 2025 and 2030 will reach as much as $5 trillion, with external financing needs of core cloud giants alone reaching $1.2 trillion to $1.5 trillion. Free cash flow is already running low for giants such as Amazon and Meta, while Nvidia and Broadcom have quietly taken on the role of "implicit guarantors"—marking the beginning of a capital gamble that is set to reshape global credit markets.
Analyst Makes Bold Prediction: Micron (MU.US) Expected to Surpass Microsoft (MSFT.US) in Fiscal Year 2027 Profit; Memory Prices Are the Key Factor
Is Micron (MU.US) expected to earn a net profit of $35 billion in a quarter, surpassing Microsoft's (MSFT.US) profits?
Warning Signs of US Stock Market Crash Reappear as in 2018 and 2022? Fed Tightening and US Treasury Supply Hit Amid Worsening Market Breadth, Liquidity Crisis May Be Approaching
Liquidity pressures may not yet be apparent on the surface of the market, but as market breadth in both stock and bond markets continues to deteriorate, these pressures are steadily accumulating internally.
X Finance Bull highlights $3,300 XRP price model filed with SEC
