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生蚝哥Oyster
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BullishMajor scam play exposed! Someone forged CZ to destroy tokens! Don’t be fooled by on-chain records
Major warning ⚠️ A carefully designed scheme has surfaced!
Around 16:15 today, rumors spread that CZ’s publicly donated address appeared with three consecutive token destruction records: 4,444 Niu Lai, 4,444 MarsCoin, and 4,444 Binance Life tokens were sent to a “black hole” address.
Many people initially mistook it as CZ personally taking action to destroy tokens, rushing in to trade and bet on the market. However, after tracing on-chain data, the truth is far more shocking!
The token burn of “Niu Lai” was not done by CZ at all.
The trader is actually the token issuer. The project team deployed a contract with reserved privileges, privately minted one billion tokens, and first transferred 800 million of them to the CZ address. Without obtaining any authorization from CZ, they then used the contract’s privileges to forcibly transfer out 4,444 tokens from that address to complete the destruction.
Just from the records shown by the blockchain explorer, the transaction initiator appears to be CZ—creating the illusion that a big-shot is backing and burning the token(s), in order to harvest market attention.
This kind of despicable marketing scheme is nothing new! Looking back at the market, the CAAB project team had previously moved 80% of its tokens to CZ’s donation address, promoting a false story about CZ holdings to inflate market value and lure retail investors into the game. After the SHORT token side batch-transferred tokens, the short-term surge caused by token burns also became a tool for the project to unload.
Here is a serious reminder to all participants!
Do not determine that CZ is involved in the project, that they actively destroy tokens, or that they endorse the project based on a single on-chain transaction hash alone. As long as the contract reserves administrator privileges, the project team can perform whatever “show” they want.
Meme tokens themselves lack real-world use cases, and the risk of extreme pump-and-dump price swings is very high, filled with all kinds of fabricated narratives. Blindly trading based on trending news can easily turn you into the chips on the market-maker’s cutting board—stay vigilant at all times!
⚠️ This content is for informational purposes only and does not constitute investment advice
#CZ
Major warning ⚠️ A carefully designed scheme has surfaced!
Around 16:15 today, rumors spread that CZ’s publicly donated address appeared with three consecutive token destruction records: 4,444 Niu Lai, 4,444 MarsCoin, and 4,444 Binance Life tokens were sent to a “black hole” address.
Many people initially mistook it as CZ personally taking action to destroy tokens, rushing in to trade and bet on the market. However, after tracing on-chain data, the truth is far more shocking!
The token burn of “Niu Lai” was not done by CZ at all.
The trader is actually the token issuer. The project team deployed a contract with reserved privileges, privately minted one billion tokens, and first transferred 800 million of them to the CZ address. Without obtaining any authorization from CZ, they then used the contract’s privileges to forcibly transfer out 4,444 tokens from that address to complete the destruction.
Just from the records shown by the blockchain explorer, the transaction initiator appears to be CZ—creating the illusion that a big-shot is backing and burning the token(s), in order to harvest market attention.
This kind of despicable marketing scheme is nothing new! Looking back at the market, the CAAB project team had previously moved 80% of its tokens to CZ’s donation address, promoting a false story about CZ holdings to inflate market value and lure retail investors into the game. After the SHORT token side batch-transferred tokens, the short-term surge caused by token burns also became a tool for the project to unload.
Here is a serious reminder to all participants!
Do not determine that CZ is involved in the project, that they actively destroy tokens, or that they endorse the project based on a single on-chain transaction hash alone. As long as the contract reserves administrator privileges, the project team can perform whatever “show” they want.
Meme tokens themselves lack real-world use cases, and the risk of extreme pump-and-dump price swings is very high, filled with all kinds of fabricated narratives. Blindly trading based on trending news can easily turn you into the chips on the market-maker’s cutting board—stay vigilant at all times!
⚠️ This content is for informational purposes only and does not constitute investment advice
#CZ
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.