Hackers Target Social Media Accounts Amid Rising Memecoin Frenzy

Changpeng “CZ” Zhao, the founder of Binance, has cautioned against a new general onslaught of social media account infiltrations as memecoins and other recent Internet obsessions keep gaining traction. He described how hackers have taken advantage of the hacked authenticated profiles to publish pseudonymous contract addresses (CA) to swindle investors into attaching their wallets. CZ emphasized that the official accounts of Binance and BNB Chain will never promote or even suggest certain memecoins. He said this following the official BNB Chain X (Twitter) account being hacked on October 1, 2025, and was used to advertise a bogus airdrop.

吴说获悉，币安创始人 CZ 发推提醒称，随着 memecoin 热潮兴起，黑客开始针对社交媒体账号（通常安全措施较弱）进行攻击，利用这些账号发布合约地址（CA）。他强调，官方账号不会为任何特定 meme 币背书。https://t.co/aJRxTUFKOM

— 吴说区块链 (@wublockchain12) October 20, 2025

BNB Chain Hack Incident

The hacking of the BNB Chain X account was a topic of concern to the crypto community. Hackers exploited the authenticated handle to place links to phishing websites and a counterfeit promotion of memecoin. Do NOT connect your wallet.” Reports indicate that the fraudulent campaign resulted in direct losses amounting to approximately US 8,000. The hackers attracted victims with a promise of an airdrop with no time limits, displaying a wallet-connect prompt and a contract address. The users instantly emptied their wallets by connecting their wallets.

Phishing and Wallet Risks

CZ pointed out that the hack was an illustration of how even validated and trusted accounts are perilous when hacked. They capitalized on the anticipation of the community at the time when memecoin was in its boom, and that users usually tend to jump at the links which promise them to get rich quickly. The phishing sites enticed the victims to add wallets with WalletConnect and other apps. After the connections, hackers had complete control which they used to steal the tokens. According to experts, this is a tactic that is increasingly becoming common as the crypto scams keep up with new trends.

Memecoin Mania Feeds Insecurity

At the end of 2025, the memecoin market is growing at an alarming rate, with new tokens coming up every day. Majority of them lack much control or audit and are therefore easy to use in scams. The caution issued by CZ arrives at the time when there are a large number of retail investors seeking huge gains on viral coins. The hacker put links to phishing websites. Following the BNB Chain hack, a memecoin called the 4 on the BNB Chain shot up 500% on speculative purchases and thin liquidity.

CZ once again confirmed the harsh policy of Binance not to promote certain tokens. He encouraged fans to confirm any links through the site of Binance or its official Telegram and X channels. The cyber attack has sensitized the community better to appreciate the fact that blue-check accounts do not necessarily mean authenticity.

Cryptocurrency Community Impact

The breach had a system-wide impact on the crypto system. Most of the projects revisited their social media security policies, and it allowed two-factor authentication and rotating credentials. Analysts noted that any projects that depend on X to make announcements of any significant nature should have alternative methods of communication, including Discord or official websites. The incident has turned into a crypto cybersecurity case study, where big brands are still vulnerable to social engineering. The reaction by CZ contained the harm but the hack demonstrated the speed at which misinformation can get transmissible in a hype-driven market.

After the incident, BNB Chain and Binance enhanced their digital defense measures. Analysts suggest that cryptocurrency companies should educate consumers on the aspects of phishing and wallet security. They emphasize that social media links must never ask them to connect their wallets. Since that time, the BNB Chain team has regained control of its account and is still investigating the nature of how this breach took place.