Crypto: CZ Abandons His Wallet After a Flood of Memecoins

Changpeng Zhao ended up abandoning the public crypto wallet he was using. Too many memecoins, dust, and unwanted tokens were arriving directly at the address without him being able to stop them. The episode also moved Trust Wallet. CZ now requests that its feature allowing to ignore certain tokens becomes much easier to use.

CZ abandons his public crypto wallet

The problem is not a hack. A public blockchain address can receive compatible assets sent by anyone. It is impossible for its owner to reject the transaction before it arrives. CZ experienced this on a large scale. The issue is not new to him either. In April 2025, his address had already received 90 million fake Grok tokens.

This time, the accumulation of promotional memecoins, small amounts of dust, and spam tokens eventually made the address difficult to manage. CZ therefore set it aside. This does not clean the blockchain. The received tokens remain visible and so do the old transactions. A public address retains its history.

The problem mainly affects the display of the crypto wallet. A user who receives ten, fifty, or a hundred tokens without having requested them does not necessarily want to see them appear each time the app opens. CZ initially thought hiding these assets would not be useful to many people. He changed his mind.

Trust Wallet already had the feature

After several user reactions, CZ admitted he had underestimated the usefulness of this option. Trust Wallet already has a feature called “Ignore coins.” It allows hiding cryptos whose balance the user no longer wants to see in the interface.

Small problem: according to CZ, it currently takes five clicks to find it. He now expects an app update to make this feature more accessible. It would mainly be an interface change.

Trust Wallet cannot delete a token received on the blockchain nor prevent its transfer to a public address. The application can simply decide not to display it anymore. The nuance matters. Hiding a memecoin does not destroy it. The contract, the transaction, and the balance remain accessible on-chain.

Trust Wallet is already working on several protections for crypto users. In March, the app had for instance deployed a protection against address poisoning on Ethereum and BNB Chain.

The system covers 32 EVM blockchains and compares certain suspicious addresses before sending a transaction. Trust Wallet then reported detecting over 225 million attempted address poisonings. The feature requested by CZ addresses a much more mundane problem. Tokens arrive. The user just wants to stop seeing them.

Memecoins mainly seek visibility

Sending a token to a crypto figure’s public address costs little and sometimes guarantees free advertising. CZ represents an ideal target. Once the token is visible in his wallet, its name can spread on X, Telegram, or in trader communities. Some projects then try to make people believe in a link with the Binance founder when no partnership exists.

This has already happened around him several times. A single CZ tweet can even trigger very violent movements. In October 2025, a trader had turned about 3,000 dollars into 2 million thanks to a memecoin associated with a CZ tweet. It’s no surprise his address attracts senders. CZ therefore chose the simplest solution: changing his crypto wallet for everyday use. Trust Wallet, for its part, should make the button allowing tokens to be ignored much more visible. The wallet will remain public. Memecoins will probably continue to arrive.