On Wednesday, Binance founder Changpeng “CZ” Zhao warned the crypto community about a rise in hacked accounts promoting scam meme coins.

Zhao took to social media to warn about a rise in fraudulent activity and urge users to stay vigilant against accounts falsely claiming to be affiliated with Binance or other Web3 firms.

His warning comes amid another security incident involving the popular Solana-based meme coin platform, Pump.fun.

On February 26, Pump.fun's X account was compromised and used to promote a fraudulent governance token called “PUMP,” alongside other scam coins.

CZ Sounds Alarm on Hacked Accounts Pushing Fake Meme Coins

According to CZ's X post, one account, “Artists Voyage,” posed as a social media manager and content writer for Web3 companies while falsely claiming ties with Binance and Binance Labs.

CZ explained that the account was likely hacked—it suddenly began promoting new meme coins, and its profile was altered.

He clarified that the individual behind the account did not work for Binance or YZi Labs but had been a longtime supporter of BNB.

Zhao emphasized that YZi Labs staff would never privately promote tokens and warned that any such behavior would result in immediate termination.

"This account probably just got hacked. It suddenly started to reach out to people to promote new meme coins. And the profile changed." Zhao said.

Blockchain investigator ZackXBT also flagged the Pump.fun hack, urging users to avoid interacting with any links posted by the compromised account.

ZackXBT linked the attack to a broader pattern of social media exploits targeting crypto-related accounts.

The scammer behind the Pump.fun breach used the compromised account to falsely advertise "PUMP" as an official governance token, misleading users with exaggerated claims and promised rewards for early adopters

In a further escalation, the hackers also promoted another token named “GPT-4.5," claiming they would delete the Pump.fun X account if the token reached a $100 million market cap.

Pump.fun acknowledged the breach in a Telegram post, warning users against engaging with its compromised X account.

"Our X account is compromised. Do not interact with it. We are investigating," a staff member posted.

X Hacks Continue as Scammers Exploit High-Profile Accounts for Meme Coin Scams

Hackers have increasingly turned X into a battleground for meme coin scams, hijacking high-profile accounts to push fraudulent tokens.

On February 5, 2025, Jupiter's official X account was compromised and used it to push a fake token, $MEOW, referencing the project's co-founder.

Despite the team's swift response, the scam posts spread before they were deleted.

This incident mirrors previous breaches, such as the January attack on Breaking Bad star Dean Norris’ account, where a fake meme coin named DEAN was falsely endorsed using manipulated media.

Litecoin's X account was also hacked in January, with scammers falsely claiming that LTC had launched on Solana.

A December 2024 report by blockchain investigator ZachXBT linked at least 15 hacked accounts to meme coin scams, resulting in over $500,000 in losses.

The scammers employed phishing tactics to steal login credentials and transferred stolen funds between Solana and Ethereum.

Crypto Security Risks Continue to Rise

As crypto-focused and other high profile X accounts become prime targets for hackers, the Pump.fun breach and similar incidents expose critical vulnerabilities in platform security.

Despite declining meme coin trading volumes and Solana's recent price struggles, scammers are intensifying their tactics, exploiting compromised accounts to deceive users and promote fraudulent tokens.

These incidents highlight the ongoing threat of social media hacks in the crypto space, reinforcing the need for strong security measures such as two-factor authentication (2FA), unique email setups, and heightened vigilance against phishing attempts.

Frequently Asked Questions (FAQs)

The post CZ Warns of Hacked Accounts Promoting Scam Tokens Amid Pump.fun Breach appeared first on Cryptonews.