CZ Urges Caution Against Hacks and Meme Token Risks
Binance founder reiterates warnings after confirming co-founder He Yi’s WeChat account was hacked, stressing he will not promote meme token contract addresses and advising users to remain alert to scams.
Summary
On Dec. 10, Binance founder Changpeng Zhao (CZ) posted on X that co-founder He Yi’s WeChat account had been hacked. He warned users to avoid any posts from the compromised account, particularly those promoting meme token contract addresses. CZ noted he has not used WeChat for years and reaffirmed his stance against promoting such token addresses. He urged heightened caution to prevent falling victim to scams.
Terms & Concepts
- Meme token: A cryptocurrency often created as a joke or based on internet culture, prone to volatility and potential scams.
- Contract address: A unique identifier on a blockchain for a smart contract (self-executing blockchain code), used to interact with decentralized applications.
- Web2: The second generation of the internet focused on user-generated content, centralization, and social networking, often reliant on large corporate-owned platforms.