CZ Warns Crypto Users Against Fake Meme Coin Promotions After BNB Chain Account Hack

Highlights:

• CZ warns crypto users to avoid connecting wallets to links shared on hacked accounts promoting meme coins.
• Hackers target verified social media accounts to promote fake meme coins and trick users into wallet scams.
• Binance and BNB Chain have strengthened account security as phishing threats rise across the crypto market.

Former Binance CEO Changpeng Zhao has cautioned the crypto community about a new wave of meme coin scams. He warned users to stay alert when official social media accounts suddenly post contract addresses for meme coins. CZ noted that hackers now target verified accounts, which often have weaker security settings, to post fake promotions.

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

 

“With the rise of meme coins, hackers are targeting social media accounts to post contract addresses,” he said on X. He also reminded traders that official Binance and BNB Chain accounts never endorse any meme coins or share contract details.

The warning followed several high-profile hacks involving crypto-related accounts. The BNB Chain X account was recently compromised and used to promote a fake meme coin through a fraudulent airdrop. Hackers pooled user funds into a token called “4” before executing a rug pull worth $4,000. In response, the BNB community mocked the hacker by buying the same token, temporarily pushing its price up by 500%.

A similar case involved PancakeSwap’s X account, which was hacked on October 8. The attacker marketed a cryptocurrency known as Sir Pancake, which achieved a trading volume of $20 million in a few hours. CZ brought this to light to demonstrate that even official pages may mislead users when hacked. His reminder came as meme coins keep dominating numerous blockchains, particularly on BNB Chain and Solana.

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

CZ Warns Crypto Users as Phishing Schemes and Wallet Risks Escalate

Scammers are becoming more aggressive, employing counterfeit airdrops and phishing websites in order to rob unsuspecting users. In the case of BNB Chain, victims were enticed to link their wallets using links on the hacked account. Once they were connected, their tokens drained immediately. In particular, reports estimated losses of around $8,000. Experts said hackers often strike when hype around meme coins peaks. Many users rush to claim free tokens without checking links.

Phishing attacks have not been limited to crypto brands. Late last year, Canadian rapper Drake’s X account was hacked to promote a fake meme coin called ANITA. The token quickly hit $4.9 million in trading volume before collapsing.

The official X account of Dior also experienced a similar breach in February. Hackers released a fake DIOR meme coin on Pump.fun, which rose by 138% in minutes and plummeted. CZ has taken a moderate position toward meme coins quite frequently. He neither endorses nor disapproves of them but encourages traders to put safety first.

Community Response and Strengthened Security Measures

In the wake of the hacks, Binance and BNB Chain strengthened their digital security. They have implemented stricter checks and multi-factor authentication reinforcement on official accounts. Meanwhile, most projects have reconsidered their policies on logins and changed credentials more regularly.

Analysts have recommended that crypto companies should diversify their communication platforms. They recommend relying on Discord, official websites, and newsletters to make major announcements rather than X alone. This model minimizes the risk of one platform being compromised.

CZ recognized the increased meme coin activity on the BNB Chain but still advised people to be cautious. He praised the community for learning from past attacks and becoming more cautious with wallet connections. “I didn’t expect this at all. Keep building,” he said while commenting on the ongoing “BNB meme season.”