CZ Sounds Alarm: Binance Founder Exposes Phishing Scams and Meme Coin Spread Through Hacked X Accounts
Another day, another crypto security nightmare—this time with Binance's founder ringing the alarm bells.
The Phishing Epidemic
CZ's warning cuts through the noise: compromised X accounts are spreading malicious links and pumping questionable meme coins. The timing couldn't be worse for an industry already battling trust issues.
Security in the Spotlight
Hacked social media accounts bypass traditional security measures, creating the perfect storm for phishing attacks. Users clicking these links face immediate wallet drainage—no second chances in this digital wild west.
The Meme Coin Connection
These compromised accounts don't just steal—they manipulate. Pump-and-dump schemes using meme coins add financial insult to security injury. Because what's better than one scam? Two layered together.
Wake-up Call
The industry's response will determine whether this becomes another 'we told you so' moment for crypto skeptics. Proper security protocols aren't just recommendations—they're survival tools in an ecosystem where your favorite influencer's account might actually be a hacker in disguise.
Another reminder that in crypto, if something seems too good to be true—it's probably a hacked account pushing a token that'll vanish faster than your funds.
Binance security team responds swiftly
Following the breach, CZ confirmed that the internal security team of Binance collaborated directly with X (previously Twitter) to suspend the hacked account and delete the phishing domains.
“The BNBCHAIN account is compromised. The hacker posted links to phishing websites. Do NOT connect your wallet,” Zhao posted on his personal X account. He reitaretad his SAFU (Secure Asset Fund for Users) post, reminding readers that they should be cautious even when the so-called verified or official accounts post the information.
CZ’s caution highlights the complexity of the current phishing attacks that have begun to take advantage of brand credibility. Meme coins and fake airdrops are used as bait by attackers who attack crypto users via verified accounts and influencers.
Growing pattern of crypto account breaches
The BNB Chain incident is just one more addition to the increasing list of social media breaches that have rattled the crypto industry throughout 2025. Earlier this year, a fake governance token was promoted to the X account of Pump.fun, which had been hijacked. Similarly, another WIRED journalist’s account was used to promote a meme coin scam, which duped thousands of followers.
Last week, PancakeSwap’s X account in Chinese was hacked to promote “Sir Pancake”, a fake token that, for a short time, generated almost $20 million in trading volume. The day before, another fake meme coin called “4” was promoted via the BNB Chain hijacked account before the community regained control.
Most recently, scammers took over the official DOTA 2 YouTube channel to promote “dota2coin,” a Solana-based token. The livestream titled “Dota 2 Launch Official Meme Coin Hurry Up” had a Pump.fun token LINK in it that redirected people back to the hacked channel.
The breaches have not been limited to crypto-native accounts. In March, Ghana’s former president, John Mahama’s X profile was hacked to advertise a counterfeit solana token named Solanafrica. A month later, UK government minister Lucy Powell’s account was used to promote a fraudulent “community” token.
Even high-profile institutions have gotten their share. In June, hackers gained access to Andreessen Horowitz’s (a16z) official X account to promote a fake $a16z token. Around the same time, the account of Paraguay’s President, Santiago Peña, was compromised to falsely declare that Bitcoin had been declared legal tender in the country.
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