Former Binance CEO and founder Changpeng "CZ" Zhao issued a stark warning on his X account on October 20, 2025, urging the crypto community to exercise extreme caution amid a resurgence in meme coin activity. He highlighted that hackers are increasingly targeting official social media accounts—which often have weaker security measures—to post fraudulent contract addresses and promote scam tokens. "With the rise of meme coins, hackers are targeting social media accounts to post CAs [contract addresses]," CZ stated, adding that "official accounts do not endorse any specific memes."
This warning follows several high-profile incidents, including the hacking of the BNB Chain X account on October 1, 2025, which was used to promote a fake BNB meme coin disguised as an airdrop event. The hacker pooled users' funds into a token called "4" before executing a rug-pull, profiting approximately $4,000. In a twist, the community mocked the hacker by pumping the token's price by 500% before it crashed exponentially. CZ commented, "Funniest come back by the community!"
Similar attacks have occurred recently: the PancakeSwap X account was hacked on October 8, 2025, promoting a meme coin dubbed "Sir Pancake" that reached a trading volume of $20 million shortly after launch. Elsewhere, non-crypto accounts like Canadian rapper Drake's X account were compromised in late 2024 to push a fake meme coin ANITA, which surged to $4.9 million in volume, while luxury brand Dior's account was hacked in February 2025 to promote a DIOR meme coin on Pump.fun, spiking 138% in value with over $1 million in volume before crashing.
CZ maintained a neutral stance on meme coins, acknowledging the boom on BNB Chain but emphasizing caution and a preference for utility over hype. He expressed surprise at the growth of BNB meme coins, given Solana's prior dominance, and noted that the BSC ecosystem has seen a surge in meme coin trading, with launchpads like Four.Meme briefly dethroning Pump.fun in 24-hour revenue earlier in October. Despite this, he reiterated that Binance and BNB Chain official accounts never endorse specific tokens, advising users to verify links through official channels and avoid connecting wallets to suspicious sites.
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