CZ (Binance) warns of a massive wave of memecoin scams

Evils keep striking in the crypto sphere: official accounts hacked, fake memecoin airdrops, and emptied wallets. CZ, an unavoidable figure in the crypto world, has sounded the alarm after a new wave of scams targeting gullible users. As memecoins explode, the threat spreads and now affects platforms considered safe. The crypto market must remain vigilant: the trap awaits with every click.

When CZ highlights the abuses of the crypto market

Changpeng Zhao (CZ) stated that hackers now target “verified” accounts to launch scam campaigns in the crypto world. The most striking case concerns the account of , followed by nearly four million subscribers: it was hijacked to spread phishing links inviting to connect a wallet. The group is cited in several security reports for orchestrating these attacks on the BNB network.

CZ published a clear message: “Warning: official accounts do not endorse any particular memecoin“.

This type of fraud often uses domain names almost identical to the official versions and targets memecoin users on BNB Chain, Solana, or Ethereum. Platforms like have suffered heavy blows: a fake token “Sir Pancake” generated a volume of 20 million dollars in a few hours before the rug pull. For crypto investors, the lesson is harsh: trust is no longer a shield.

BNB Chain, eldorado or minefield of memecoins?

On BNB Chain, the memecoin frenzy reaches historic levels. CZ talks about a kind of “memecoin season,” where enthusiasm combines hype and danger. Here are some striking data:

• 4 million subscribers: size of the hijacked BNB Chain account;
• 20 million dollars: volume of the fake token “Sir Pancake”;
• 2022: start year of intensive activity for Inferno Drainer;
• 2.5%: visible part of memecoins launched on BNB Chain involving scams;
• A few hours: average duration before the rug pull of a fake memecoin. 

This list shows how illusions can end abruptly. The crypto market, which saw memecoins as a chance for quick gains, must also accept that it is exposed to mini wallet theft schemes.

CZ emphasizes that memecoins are not the problem per se, but the scam mechanism benefits from collective eagerness. Other chains like Solana or Avalanche are not spared. Facing this explosion, crypto investors are called to verify domains, contract addresses, and consider that “official” no longer means “risk-free.” The future of the crypto community may now hinge on the quality of its vigilance.

In early September, Google searches for memecoins experienced a sharp increase, a sign that average crypto investors are again interested in this segment.