Changpeng Zhao (CZ), founder and former CEO of Binance, has publicly addressed and debunked what he describes as an organized misinformation campaign targeting both himself and the Binance exchange. According to CZ, the campaign relied on long-running fake accounts, AI-generated images, and staged narratives designed to appear as constructive criticism before turning into direct accusations.
The Fake “Supporter” Account That Raised Red Flags
The situation came to light when CZ noticed a post from an account named “Wei 威 BNB”, which claimed it would close its Binance account due to alleged market manipulation by the exchange. At first glance, the account appeared highly credible, boasting over 863,000 followers and using images from a BNB Chain-related event, giving the impression of close ties to Binance.
However, several inconsistencies quickly raised suspicion. CZ revealed that the account had blocked him, an unusual move for someone claiming to be a long-time supporter. More importantly, the account shared multiple photos allegedly taken with CZ — images that showed clear signs of digital manipulation.
In one image, CZ was depicted wearing a shirt color he stated he does not own. Another image showed CZ and Binance co-founder Yi He in noticeably lower resolution, while the account owner appeared sharp and clear, suggesting image compositing. CZ clarified that the original photo was actually taken with Leonard, CEO of Aster, not the person behind the account.
Signs of Account Takeover or Ownership Transfer
Beyond manipulated images, CZ pointed to the account’s historical activity as further evidence of inauthentic behavior. Archived data shows that the account originally belonged to a woman and exclusively posted female personal photos until mid-2015. After that point, the content abruptly shifted to cryptocurrency-related posts, with earlier content left untouched.
“Either the account was hacked or it was bought,” CZ commented, emphasizing that such tactics are commonly used to build long-term credibility before launching coordinated FUD campaigns.
He described the operation as “sloppy”, suggesting that the individuals behind it spent more time monitoring Binance than improving their own products. CZ also implied that the campaign may have been orchestrated by a self-proclaimed competitor attempting to undermine Binance’s reputation.
Community Reactions and Broader Context
CZ’s disclosure received support from several community figures. Teki, CEO of World of Dypians, thanked CZ for clarifying the situation and admitted that the original post initially seemed convincing. Another commentator known as Vegas offered a broader perspective, stating that attacks on Binance typically originate from three groups:
Opportunists seeking attention and engagement
Traders who suffered losses and became emotionally frustrated
Coordinated FUD campaigns with financial backing
Vegas further claimed he had personally been offered payment to spread negative sentiment about Binance, hinting at possible involvement from market “whales” or direct competitors.
Binance Under Ongoing Scrutiny
These revelations come amid continued scrutiny of both CZ and Binance. On January 28, CZ faced criticism for allegedly promoting risky investment behavior after expressing support for a long-term holding strategy. He later clarified that the statement reflected personal opinion only and was not applicable to all tokens or investors.
Shortly afterward, on January 30, Binance announced it would convert $1 billion from its SAFU insurance fund from stablecoins back into Bitcoin. While many viewed this as a vote of confidence in BTC, the move also intensified public discussion around Binance’s financial strategy.
Despite the controversies, Binance’s market position remains strong. Data released by CryptoQuant shows that in 2025, Binance accounted for 41% of global spot trading volume and 42% of Bitcoin perpetual futures volume among leading exchanges.
Final Thoughts
CZ’s response highlights the growing sophistication of misinformation tactics in the crypto space, particularly as AI-generated content becomes harder to distinguish from reality. While criticism and accountability remain essential, CZ argues that transparency and fact-checking are equally important to protect both users and the broader ecosystem.
This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research before making any decisions.
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