Binance CEO CZ, in his latest statements, warns crypto investors of high risk and emphasizes that they should prefer reliable exchanges. CZ also said that some altcoins should never be bought.
Binance CEO accidentally gave opportunity to scammers
CZ’s warning actually pointed to a very important issue. Some scammers market various coins and tokens using the name of famous people or institutions to attract investors. CZ says that crypto investors using Twitter may be targeted by these individuals.
CZ’s comments came amid criticism directed at him. Binance CEO has been following back some of his followers on Twitter recently who supported the ‘4’ call. Twitter’s @HeyHoCrypto suggested that CZ was needlessly inflating these accounts…
😂then some of them will sell their twitter handle
— HeyHo (@HeyHoCrypto) April 21, 2023
Binance CEO, on Twitter yesterday, “I followed a few people “randomly” because they replied “4”. I won’t be able to follow everyone who does this, especially after I say this. “I will continue to “randomly” follow positive people who contribute to our communities,” he said.
The community’s concern suggests that these accounts that CZ randomly follows may be scams. CZ later vindicated the concerns. In a follow-up tweet, he wrote, “I unfollow later There are a few people who keep me informed.”
CZ highlights altcoins that should never be bought
With CZ’s warning, it turned out that some Twitter accounts were targeting users using CZ’s name to launch cryptocurrencies. CZ is warning the crypto community not to engage in these high-risk meme projects by unfollowing these accounts. However, he did not include any specific coin or project name in this regard.
There apparently are groups of people trying to buy accounts I follow, then issue meme coins. I unfollow and block them.
Don’t get into those meme coins either. Understand the risks. https://t.co/tNyfJskLV0
— CZ 🔶 BNB (@cz_binance) April 22, 2023
Could it be Pepe Coin?
Pepe Coin (PEPE) is a new meme project gaining popularity recently. Launched on April 16, PEPE has risen in the past three days, similar to the Shiba Inu and Floki Inu rallies. These rallies also caused a short burst of cryptocurrencies with small market caps, such as other meme cryptocurrencies Dogelon Mars and Baby Doge Coin.
Currently trading around $0.000000330, PEPE has rallied almost 900% in the last three days. The sudden popularity of PEPE also had an impact on another cryptocurrency, Memetic/PepeCoin (MEME). But there are serious concerns about the team behind the project…
As you follow on Kriptokoin.com, the reports that emerged after Pepe Coin became a trend showed the absolute dominance of the project team over the coins. According to the findings, the underlying contract behind Pepe includes some questionable functions. This contract functionality raises concerns about the decentralization of the token.
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