Binance Founder CZ Warns Against Falling for “His” Fake Verified X Accounts

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As an analyst with years of experience in the cryptocurrency market, I find Changpeng Zhao’s latest warning to his 8.9 million followers on Twitter about fake accounts posing as him to be a prudent and necessary move. Given my own experiences navigating the complex world of social media, especially since Elon Musk took over Twitter in 2022, I can attest that such warnings are essential for the protection of users.

Changpeng Zhao, one of the founders of Binance, spoke out to his 8.9 million followers with an important message of caution.

Following his release from prison, CZ has issued a second caution about fraudsters exploiting his identity to swindle cryptocurrency users.

CZ spots “his” fake verified accounts on X

Zhao issued a cautionary note, advising the community to stay vigilant against false CZ profiles. Previously, the head of Binance clarified that he exclusively uses the @cz_binance username. Any other accounts beginning with “cz” and bearing a blue verification badge should be considered fake. He specifically highlighted two such accounts that users are advised to steer clear of.

Following Elon Musk’s acquisition of Twitter in 2022, users can now purchase and keep up a subscription for verification badges that come in different colors, signifying whether they represent an individual or an organization, on a recurring monthly payment basis.

Several well-known celebrities expressed their disapproval over that action, among them the renowned horror author Stephen King. As stated in a tweet by Musk himself, he personally covered the cost for King’s verified badge. Since then, King has consistently voiced his disagreement with Musk, asserting that Twitter was a superior platform before Elon Musk bought it for approximately $44 billion.

Be cautious of phony “cz” profiles on the platform. This (@cz_binance) is the only one I’m using. Any other profiles with “cz_…” are likely imposters, frauds, or scammers. If you come across any, please report them. I hope they improve in managing these fake accounts soon.

— CZ 🔶 BNB (@cz_binance) October 21, 2024

Last year, Musk chose to reduce his new purchase’s reliance on advertisers who had waged a boycott against him by withdrawing ads and criticizing him. In retaliation, Musk openly expressed his displeasure towards them, specifically targeting the CEO of Disney. This dispute between Musk and the advertising giants stemmed from Musk’s stance against these corporations imposing what he refers to as the “woke ideology” on Western culture, which he considers a virus.

In early March, CZ issued a cautionary note to the X crypto community, highlighting that unofficial social media sites, not X, have been circulating deepfake videos featuring him, promoting cryptocurrencies he was unfamiliar with.

CZ’s first statement after release from jail

Upon my release from prison in late September, I took to Twitter to express my newfound luxury – the ability to enjoy one piece of fruit each day.

The influencer stated that he wanted to “chill for a bit” before figuring out his next steps. “here are always more opportunities in the future than there were in the past,” he tweeted.

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2024-10-21 13:14