Binance CEO Changpeng Zhao (CZ) has cautioned the public against trusting persons claiming to manage cryptocurrency project listings on Binance.
These scammers offer to list crypto projects on Binance, claiming to work for the company or to be acquintances/ friends of CZ.
The executive distanced himself from such persons, saying he intends on blacklisting them in an effort to promote the security of user funds.
CZ impostor warning comes amid rise in crypto scams
Crypto-related fraud and theft rose from $12 billion in 2024 to an all-time high of $14-$17 billion in 2025. The methods of attack encompassed:
- Social engineeringm which accounted for 65% of all crypto scams and was more prevalent than technical exploits.
- AI-powered scams (deepfakes and automated phishing) which achieved 4.5 times higher profitability than traditional methods. Deepfakes impersonating exchange executives and celebrities rose by 700% in 2025.
- Impersonation scams which grew by a staggering 1,400% year over year.
Source: DeepStrike
Retailers accounted for 74% of all losses, while persons over 60 years of age suffered the highest losses at $3.2 billion.
In January 2026, financial losses related to crypto fraud reached $370 million, the highest monthly total in nearly a year.
Recently, crypto and blockchain investigator ZachXBT flagged more than 10 coordinated X accounts that manufactured panic in order to drive followers to crypto scams. Known as “doomposting,” the exploit netted at least six-figure profits before X suspended these accounts.
A case of the kettle calling the pot black?
Community reaction ranged from support to questioning CZ’s goodwill following allegations of Iran-linked flows and money laundering on Binance.
Just today, the Australian Federal Court fined the exchage A$10 million for client misclassification that led to A$8.66 million in trading losses.
Government action
Brazil has now announced its intentions to direct the proceeds of crypto-related crimes to its national treasury to fund public projects and establish strategic reserves. Nations implementing similar agendas include the US, the UK, China, and North Korea.
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