Changpeng Zhao, known as “CZ,” the creator of Binance, has revealed and stopped a planned effort to spread false information about both himself and the Binance platform.
CZ revealed a deceptive account that pretended to be a dedicated fan, likely using AI-created images, before sharing negative comments.
The Unraveling of a Fake Supporter
The situation started when CZ saw a post from an account called “Wei 威 BNB” that claimed someone was closing their Binance account because of suspected manipulation. This account looked real – it had over 863,000 followers and used pictures from a Binance event.
Binance’s former CEO said they started to question the account’s authenticity after looking closely at it. One reason was that the account, which had blocked him, shared several pictures claiming to show him with the user, but these photos seemed to have been edited.
One picture appeared to show Zhao wearing a shirt color he stated he doesn’t have. Another image combined blurry pictures of him with Yi He, a Binance executive, and a clearer picture of the account’s actual owner. CZ asserted the original photo actually depicted Leonard, the CEO of Aster.
He also stated that the account’s past activity indicated it was either sold or hacked a long time ago. Records show the account initially belonged to a woman who only posted photos of herself until July 2015. After that, it suddenly began sharing content solely about cryptocurrency, without deleting her previous photos.
“Either a hacked takeover or bought,” CZ wrote.
He called the campaign uninspired and implied a rival, who he believes is overly preoccupied with Binance, was probably behind it, neglecting their own work.
As a crypto investor, I saw that this account was using a profile picture that was clearly a fake – it was a copied version of another influencer, ShirleyXBT’s, photo. It’s a really shady tactic and a big red flag.
Community Backing and a Pattern of Scrutiny
The publicity sparked some positive reactions from the crypto community. Teki, CEO of World of Dypians, thanked CZ for setting the record straight and acknowledged that the original post had initially appeared convincing.
Vegas, a commentator, broke down attackers into three groups: those looking for quick attention, traders who were truly upset, and coordinated groups spreading false information. They also stated someone offered them money to post negative things about Binance, hinting that big investors or rival companies might be involved in manipulating the market.
The recent news arrives as Changpeng Zhao (CZ) and Binance continue to face increased attention. On January 28th, CZ received criticism for suggesting a long-term investment approach that some felt could be damaging to the market. He later explained that his comments were simply his personal opinion and weren’t meant as advice for all cryptocurrencies.
On January 30th, Binance revealed it was changing its $1 billion emergency insurance fund – called SAFU – from stablecoins back into Bitcoin. Some experts saw this as a positive sign for the market, while others noted it highlighted how Binance manages its finances.
Even with recent criticism, Binance remains a dominant force in the crypto market. Early 2025 data from CryptoQuant shows the exchange accounted for 41% of all spot trading and 42% of Bitcoin futures trading volume among leading platforms.
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2026-02-05 00:39