Changpeng Zhao Flags Rising Meme Coin Scams via Verified Accounts
TLDR
- Changpeng Zhao warned that hackers are targeting official social media accounts to promote fake meme coins.
- He stated that contract addresses shared by hacked accounts are being used to deceive traders.
- The BNB Chain X account was recently hacked to promote a fake meme coin called “4.”
- The hacker profited $4,000 before the community inflated the coin’s price in mockery.
- The PancakeSwap X account was also compromised to push a meme coin named “Sir Pancake.”
Changpeng Zhao has alerted the crypto community about rising hacks of official accounts promoting meme coins via contract addresses. These incidents involve compromised social media accounts, including those of major projects and celebrities, misleading traders into risky purchases. Zhao emphasized the growing frequency and urged users to remain alert as meme coins surge in popularity.
Changpeng Zhao Warns on Meme Coin Hacks
Hackers recently compromised the official BNB Chain X account to promote a fraudulent meme coin disguised as a legitimate airdrop. They published a contract address directly on the page, misleading followers into pooling funds into the fake “4” token. After executing a rug pull, the hacker gained $4,000 by dumping the remaining tokens on the market.
Soon after, the BNB community recognized the scheme and mockingly inflated the token’s value by 500% before letting it crash. Changpeng Zhao responded, calling it the “funniest comeback,” noting how users turned the scam into satire. “After the hacker dumped ALL his tokens for a $4k gain, the community took over,” Zhao explained.
Despite the humorous outcome, Zhao reiterated that hackers target low-security social media accounts to post contract addresses. He stated that official accounts do not promote specific meme tokens. This highlights a serious vulnerability as meme coin interest continues to grow within the BNB ecosystem.
PancakeSwap and Other Accounts Hijacked Amid Meme Coin Craze
On October 8, hackers took control of the Chinese PancakeSwap X account and promoted a meme coin called “Sir Pancake.” The coin reportedly reached a trading volume of $20 million within hours of its launch. This incident further confirmed the rising trend of hackers leveraging high-profile platforms to launch meme tokens.
Changpeng Zhao warned traders not to trust contract addresses shared suddenly by verified accounts, especially without background verification. He emphasized the need for higher security standards on such platforms. Zhao’s repeated alerts underscore the scale of the problem as hackers exploit hype around trending tokens.
In response, several blockchain communities began manually verifying coin launches and community-driven warnings. While some users find humor in flipping scam coins for fun, the risk remains substantial. Zhao has stressed his disapproval of blindly trusting social media posts, regardless of source.
Celebrity and Brand Accounts Also Used in Meme Coin Scams
The scope of these hacks has expanded beyond crypto, with celebrity and brand accounts targeted to push fake meme tokens. At the end of 2024, hackers hijacked rapper Drake’s X account to promote the ANITA coin. The token briefly soared to $4.9 million in trading volume after users believed it was tied to Drake’s tour.
Similarly, in February 2025, hackers used Dior’s X account to promote a fake DIOR coin launched on Pump.fun. The token saw a 138% spike in value and over $1 million in trading volume within minutes. Changpeng Zhao noted these incidents, pointing out how social trust is easily exploited by quick scams.
He reiterated that meme coins promoted through these hijacked channels are not officially endorsed. Zhao continues to share such examples, pushing for broader awareness and scrutiny within the crypto community. He stated, “Beware that official accounts do not endorse any specific memes.”
Despite not condemning meme coins entirely, Changpeng Zhao has never endorsed them and favors projects with real utility. He continues to warn users, particularly during meme coin booms on platforms like BNB Chain and Solana. Zhao concluded,
The post Changpeng Zhao Flags Rising Meme Coin Scams via Verified Accounts appeared first on CoinCentral.
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