Binance founder Changpeng Zhao (CZ) has once again sounded the alarm over a surge in scams spreading alongside the growing memecoin hype. In a post on X (formerly Twitter), CZ warned the crypto community that hackers are now targeting social media accounts to spread fake smart contract addresses and trick users into sending funds.

Hackers Exploit the Memecoin Craze

According to CZ, attackers are focusing on popular crypto accounts with large followings and strong community trust. Once a profile is hacked, they post fake “official” links claiming to promote new memecoins or exclusive airdrops — luring users to connect wallets and lose their funds.

“Many social media accounts have very weak security settings,” CZ noted. “Hackers take advantage of this, steal access, and use those accounts to deceive the community.”

Binance and CZ Do Not Endorse Any Memecoin

CZ made it clear that neither Binance nor his personal account endorse any particular memecoin, urging users to remain extremely cautious about posts claiming affiliation with Binance or “tokens approved by CZ.”

Experts say these social engineering scams have multiplied as memecoins like DOGE, SHIB, PEPE, and BONK regain popularity. With new tokens appearing daily, scammers exploit the FOMO effect (fear of missing out) to push users into hasty, uninformed purchases.

How to Protect Yourself From Fake Memecoins

Security specialists recommend several key steps to stay safe:

🔹 Follow only verified accounts – Make sure you’re following official profiles (look for the blue verification badge).

🔹 Never click links in comments – Hackers often post fake links under viral tweets or videos.

🔹 Verify smart contract addresses – Always double-check token contracts on trusted sites like CoinMarketCap or CoinGecko.

🔹 Enable two-factor authentication (2FA) – Protect your accounts from unauthorized access.

🔹 Avoid “guaranteed” investment tips – No legitimate project promises quick profits or guaranteed returns.

Memecoin Mania Brings Both Gains and Chaos

Interest in memecoins has skyrocketed in recent weeks, leading to extreme price swings and record social media activity. While some projects have delivered huge gains, others have turned out to be classic rug pulls, where developers vanish after collecting investor funds.

CZ urged the community to approach the trend with caution:

“Always do your own research. Never believe everything you see on social media,” he warned.

Bottom Line:

Memecoins may offer short-term excitement and profit opportunities, but they also come with significant risks. CZ’s warning is a timely reminder that cybercriminals never sleep — they simply evolve. As the community chases the next “big PEPE,” it’s wise to stay alert and skeptical.

#CZ , #memecoin , #ChangpengZhao , #Binance , #security

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